On March 28, 2023, federal Minister of Finance Chrystia Freeland announced the 2023 Federal Budget which focused on inflation relief for low-income families and incentives for the green economy. The Budget outlined several housing-related measures but fell short of what is needed to improve housing attainability for Canadians. Below are the highlights from the federal …
The BC Financial Services Authority (BCFSA) has introduced new Real Estate Services Rules (“Rules”) with respect to teams effective April 1, 2023. But, what’s new in them? The regulator’s historical decisions on teams suggest that timely registration and notice to the regulator is important as, where real estate professionals have failed to register a new …
On March 27, 2023, the federal government announced amendments to the Prohibition on the Purchase of Residential Property by Non-Canadians Act’s (the Act) accompanying Regulations, effective March 27, 2023. The Act was passed in June 2022 and the regulations came into force January 1, 2023. Here’s what you need to know about the amendments to …
Vancouver, BC – March 28, 2023. To fully offset a deterioration in housing affordability, new home completions in BC need to increase 25 per cent above their historical average level for the next five years to a record level of about 43,000 completions per year, a new report has revealed. According to the latest Market …
At BCREA, we prioritize connecting with our REALTOR® community each year by speaking at and attending events with professionals from the sector. If you have an upcoming event you would like us to attend, please complete the form below with as much information as possible. All questions are mandatory. We might not be able to accommodate …
To view the Mortgage Rate Forecast PDF, click here. Highlights Economic uncertainty driving substantial volatility in Canadian bond markets. Is the Canadian economy just slowing or something worse? AInflation trending the right direction, will that be enough to keep the Bank of Canada on hold? Mortgage Rate Outlook Mixed signals from Canadian economic data are …
For Immediate Release Vancouver, BC – March 22, 2023. The British Columbia Real Estate Association (BCREA) is pleased to announce that Victoria REALTOR® Darren Close has been elected as its 2023-2024 Chair at the BCREA Annual General Meeting on March 21, 2023. “I am humbled and excited to have been selected by our peers to …
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For the complete news release, including detailed statistics, click here. Vancouver, BC – March 13, 2023. The British Columbia Real Estate Association (BCREA) reports that a total of 4,775 residential unit sales were recorded in Multiple Listing Service® (MLS®) systems in February 2023, a decrease of 46.5 per cent from February 2022. The average MLS® residential …
Second-hand smoke can be the source of much conflict and aggravation in shared living spaces such as strata buildings. While smoking can lead to residential fires and can increase building maintenance costs, more importantly, inhaling smoke is hazardous and there are no safe levels of exposure, for example see Brookes v. The Owners, Strata Plan …
From time to time, BCREA will retire a standard form or clause if a new or updated regulation deems it no longer necessary or if there is limited use of the form by REALTORS®. As such, BCREA will remove Form B and retire the BCREA Buying from an Estate Clause from CREA WEBForms®, effective March …
On February 28, 2023, Minister of Finance Katrine Conroy delivered the BC 2023 Budget Speech, adding financial promises to bolster Premier Eby’s stated governmental priorities. With a new premier and cabinet, which includes a separate Ministry of Housing, BCREA was hopeful that the new government’s first budget would make strong commitments to increasing housing supply. …
The British Columbia Real Estate Association acknowledges that our head office is located on the unceded traditional territories of the Coast Salish Nations of Sḵwx̱wú7mesh (Squamish), səl̓ilwətaɁɬ (Tsleil-Waututh), and xwməθkwəy̓əm (Musqueam). We also acknowledge the other 195 First Nations in British Columbia, as these are the lands we each call home.
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