Monday, April 25, 2011

Two Speed Market Continues for BC Home Sales

The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential sales in the province continued to climb higher in March. Compared to March of 2010, MLS® residential unit sales increased 11.5 per cent to 8,600 units. The average MLS® residential price rose 15 per cent to $594,157 in March compared to the same month last year.


"We continue to observe a two-speed market in BC, with surging consumer demand in Metro Vancouver overshadowing more moderate demand in other regions," said Cameron Muir, BCREA Chief Economist. "Vigorous consumer demand drove Greater Vancouver to its most active March since 2004, while the Fraser Valley had its strongest March in four years. Conversely, sales activity in other BC markets is expanding at a pace more inline with overall economic growth."

Year-to-date, BC residential sales dollar volume increased 21 per cent to $11.14 billion, compared to the same period last year. Residential unit sales increased 4.7 per cent to 19,147 units. The average MLS® residential price rose 15.4 per cent to $582,021 over the same period.

March 2011 Housing Market Update REBGV

Tuesday, April 12, 2011

HST referendum vote details confirmed

The B.C. government announced on April 8, 2011 the process by which British Columbians will cast their ballot in the HST referendum vote this summer.

Key Dates:

  • Monday, June 13 – Elections BC starts mailing out referendum ballots for the HST to all registered voters.
  • Friday, June 24 – Majority of British Columbians have received the ballot.
  • Friday, July 8 – Last day for unregistered voters to request a ballot from Elections BC.
  • Friday, July 22, 4:30 p.m. (local time) – Completed ballots must be received by mail by Elections BC or in person by a Service BC centre.

Elections BC, a non-partisan office of the legislature, will conduct the referendum.

British Columbians who are not registered voters for a provincial election, or who have moved since the last election and have not updated their voter record, will need to request a ballot from Elections BC.

It will take several weeks for Elections BC to count the ballots. Results of the vote are expected in August.

The referendum question will be:

“Are you in favour of extinguishing the HST (Harmonized Sales Tax) and reinstating the PST (Provincial Sales Tax) in conjunction with the GST (Goods and Services Tax)? Yes/No.”

Quote:

Attorney General Barry Penner –

“Most British Columbians will have their ballot by June 24 and can begin weighing this very important decision. Voters will need to remember that, to be counted, they must make sure their ballots are mailed in time to be received by Elections BC before the close of voting at 4:30 p.m. local time on Friday, July 22 or deliver their completed ballot to a Service BC centre by the same deadline.”

Learn More:

For more information on the HST, visit: www.hstinbc.ca

For more information on Elections BC, visit: www.elections.bc.ca