Additional property transfer tax increased from 15% to 20% and extended to other regional districts (Capital, Fraser Valley, Central Okanagan, Nanaimo).
A new tax called "speculation tax" was introduced for the vacant homes. Home owners, who don't pay income tax in BC, will pay a speculation tax for their vacant homes in certain districts of BC (Metro Vancouver, Fraser Valley, Capital and Nanaimo Regional Districts, and in the municipalities of Kelowna and West Kelowna). The tax will be 0,5% of assessed value of the property in 2018 and will rise to 2% in 2019.
Property transfer tax increased from 3% to 5% for the part above $3 million of residential properties' value.
Average Home Prices continued to grow (by 1,4%)
Condos continued to be the main contributor (with 2,6% monthly increase in average price)
Average Townhouse price increased by 1,9%
Average House price stopped decreasing.
Sales to active listings ratio for houses is still at a critical level of 13% (Analysts believe that it is buyers' market when this ratio becomes below 12%).