Federal Budget Lacks Meaningful Housing Supply Initiatives

Woman looking at laptop screen

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

All for One, One for All — New Team Rules in Effect #559

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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

Federal Government Amends the Foreign Buyers Ban Regulations 

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

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Provincial Housing Market Showing Signs of Recovery Heading into Spring

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

BCREA Welcomes Budget 2023’s Housing Measures with Cautious Optimism

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.  

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