B.C. The measures designed to refresh the market in Vancouver's housing market will be implemented in 2019, making the sales stage slow.
Several provincial policies, along with federal stress tests, have already had the most important psychological field in Vancouver, said Bryan Yu, chief economist at 1 Central Credit Union. Canadian bank regulators launched an stress test on January 1, 2018 to make purchasers more difficult to access mortgages.
The sales of the Vancouver region fell by 23% in 2016 compared to 2017. Trends in the expectations of buyers and sellers are expected to extend in 2019, says Yu, sales of commercials by 2019 compared to 2018.
"We will see a constant gap between vendors' sales and purchasers who are willing to offer their capabilities and offers," he said in a conversation. "It lowers sales in a low environment."
The government of the NDP will start collecting the 2019 speculative tax. The annual tax is mainly targeted at British Columbia's own property markets. These assets are not rented homes or holiday properties.
B.C. The government will make an annual sale of owners of property evaluated over $ 3 million. The new fiscal and surtax speculation is a large set of housing policies that were presented in the BC NDP budget in February 2018.
While the crisis of availability is maintained, the average price for independent houses in the Vancouver region, counties and townhomes could fall by 2019 in 2019, according to Yu's predicted. Sales slow and prices may be slightly smaller or smaller in 2020 and 2021.
In August 2016, BC Liberal Government launched 15 cents of Canadian external purchasers, and was forced to face the second half of 2016 and the first housing segment of 2017. The 2017 market, the BC NDP government raised the taxpayers' purchases of foreigners by 20% in February 2018 and extended the tax on other urban markets.
The Vancouver real estate market has faced "intense pressure" in 2018, boosting the rise in mortgage rates, said Sal Guatieri senior economist bank.
"Demand has weakened so many purchasers are able to get sellers price consciousness," wrote Craig Wright and Robert Hogue of the Canadian real economists bank in a study note.
However, Mr. Yu expects the British Columbia economy to be strong in the next three years, the unemployment rate must be relatively low and there is no sign for global financial exchange.
"Domestic prices are falling, but they will not crash," he said. "We have achieved a mild place in the home of the homes, which is a truly political event. The labor market is strong. We are not in a crisis of economic or confrontational recession."
The median price of homes sold on the outer west reached $ 3,218,333 in November 2017. Distributed sales have fallen by 11% since then, but most prospective buyers are still $ 2,860,000.
The La Concha and the town markets had resistance signals at the beginning of 2018, but in recent years it was significantly improved. The sales of the Vancouver Community prices fell 690,905 dollars in November to 7.7% from April.
However, entry-level purchases continue to be expensive for the first time for many buyers, said Paul Kershaw, the founder of Generation Squeeze, to lobby groups to represent younger women in the 40s and 40s in Canada. "The future probability of a home with a younger demographic future is damaging more than one of the British provinces," he said.
From the middle of 2013 to mid-2016, the rapid rise in real estate prices Vancouver City Council invited many residents to move to another province, such as the price of markets like Victoria and Sunshine Coast. Mr. Kershaw has said.
According to the study by Generation Squeez, the property rate of the population aged 35 to 44 was 67% of the British population in 2016, 78% in 1977.
"We had an earthquake in the B.C. real estate sector," said Mr Kershaw. "Vancouver's lawsuit has not been only in the last decade, it has spread to neighborhoods in urban areas such as Victoria. Although hard-working, hard work is not used.