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Brendan Connolly

Vancouver Real Estate: Westside, Eastside & Downtown

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604-833-8793
Residential Real Estate Consultant

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New taxes unlikely to stabilize housing market

February 20, 2018 By Brendan Connolly

Victoria, BC – February 20, 2018. The British Columbia Real Estate Association calls on government to introduce transitional rules for all transactions impacted by the new tax measures introduced in Budget 2018. The new tax measures come into effect on February 21, 2018. The Property Transfer Tax (PTT) increase to 5% for properties over $3 million, as well as the increase to 20% and expansion of the Foreign Buyer’s Tax to other parts of the province will have an immediate impact on transactions … [Read more...] about New taxes unlikely to stabilize housing market

Filed Under: Vancouver trends Tagged With: budget 2018, foreign buyers tax, property transfer tax, ptt, speculation tax

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Foreign buyer tax impact

August 16, 2017 By Brendan Connolly

On August 1, 2016, the provincial government implemented an additional 15 per cent Property Transfer Tax on all residential sales transactions by foreign entities in Metro Vancouver. Home sales had already been cooling since spring 2016, and simply comparing a lower level of sales in August to the heights of the market in the early part of the year would dramatically overstate the impact. To analyze the impact in a more meaningful way, BCREA simulated how home sales in the Real Estate … [Read more...] about Foreign buyer tax impact

Filed Under: Resources & strategies Tagged With: foreign buyers tax, property transfer tax, ptt

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Gets the job done smoothly

Brendan is a straight shooter and knows his market very well. He was able to determine my needs and find some options very fast. He’s very professional and gets the job done smoothly! I look… Read more “Gets the job done smoothly”

Mike
Automotive Consultant
Burnaby

Recent articles

Spring ushers in calmer housing market trends in Metro Vancouver

VANCOUVER, BC – June 2, 2022 – After reaching record-setting levels in 2021, home sale activity has returned to more typical seasonal levels in Metro … [Read More...] about Spring ushers in calmer housing market trends in Metro Vancouver

Metro Vancouver homes sales return to more traditional levels in April

VANCOUVER, BC – May 3, 2022 – Home buyer demand in Metro Vancouver* returned to more historically typical levels in April. The Real Estate Board of … [Read More...] about Metro Vancouver homes sales return to more traditional levels in April

Calmer than last spring’s record pace, Metro Vancouver home buyer demand remains elevated

VANCOUVER, BC – April 4, 2022 – While down from last year’s record numbers, home sale activity in Metro Vancouver’s* housing market remained elevated … [Read More...] about Calmer than last spring’s record pace, Metro Vancouver home buyer demand remains elevated

Listings inch up, demand remains steady and price gains continue in Metro Vancouver’s housing market in February

VANCOUVER, BC – March 2, 2022 – The Metro Vancouver* housing market saw steady home sales activity, modest increases in home listings and continued … [Read More...] about Listings inch up, demand remains steady and price gains continue in Metro Vancouver’s housing market in February

Low supply keeps upward pressure on home prices across Metro Vancouver’s housing market

VANCOUVER, BC – February 2, 2022 – The first month of 2022 saw home sales come down from last year’s record-setting pace, while low supply continued … [Read More...] about Low supply keeps upward pressure on home prices across Metro Vancouver’s housing market

Metro Vancouver home sales set a record in 2021

VANCOUVER, BC – January 5, 2022 – Metro Vancouver* home sales reached an all-time high in 2021 as housing needs remained a top priority for residents … [Read More...] about Metro Vancouver home sales set a record in 2021

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