{"id":15129,"date":"2020-03-07T10:10:00","date_gmt":"2020-03-07T18:10:00","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=15129"},"modified":"2020-03-05T12:56:41","modified_gmt":"2020-03-05T20:56:41","slug":"bcrea-the-impacts-of-speculation-vacancy-tax-intelligence-report","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2020\/03\/bcrea-the-impacts-of-speculation-vacancy-tax-intelligence-report\/","title":{"rendered":"BCREA The Impacts of Speculation & Vacancy Tax Intelligence Report"},"content":{"rendered":"

The latest BCREA Market Intelligence Report : Estimating the Impacts of the Speculation and Vacancy Tax estimates the Speculation and Vacancy tax reduced home sales in taxable regions in BC by an additional 12.5% compared to non-taxable regions. Click here<\/a> to read the full report.<\/p>\n

Summary Findings :<\/p>\n

\u2022 While all BC markets experienced sharp declines since 2018, the Speculation and Vacancy tax (SVT) is estimated to have reduced home sales in taxable regions in BC by an additional 12.5% compared to non-taxable regions. Growth in home prices since 2018 is estimated to be 5% lower in taxable regions in BC compared with non-taxable regions due to the SVT.<\/p>\n

\u2022 However, these impacts effectively disappear if Metro Vancouver markets are excluded from the analysis, suggesting the impact of the SVT has been limited to Metro Vancouver.<\/p>\n

\u2022 A recovery of home sales is underway around the province, and without addressing significant supply issues, any progress made toward improved affordability looks to be short-lived.<\/p>\n

\u2022 The SVT\u2019s impact on the rental market also appears to be more material in Metro Vancouver, where there was a record increase in rental supply, yet it is not possible to disentangle this from impacts of the Empty Homes Tax and short-term rental regulations that were implemented around the same time.<\/p>\n

\u00a0\u00a0\u00a0 \"\"<\/a><\/p>\n

BCREA Market Intelligence Report : Estimating the Impacts of the Speculation and Vacancy Tax<\/a> by Brendon Ogmundson | BCREA<\/p>\n","protected":false},"excerpt":{"rendered":"

The latest BCREA Market Intelligence Report : Estimating the Impacts of the Speculation and Vacancy Tax estimates the Speculation and Vacancy tax reduced home sales in taxable regions in BC … [read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-15129","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"\nBCREA The Impacts of Speculation & Vacancy Tax Intelligence Report • Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2020\/03\/bcrea-the-impacts-of-speculation-vacancy-tax-intelligence-report\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta 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