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Instead, by the end of 2021, the Canadian Real Estate Association's House Price Index had risen by 26.6%, the fastest annual pace on record. [50] Condominiums accounted for the bulk of new housing in BC (54%) and Ontario (59%), [ 51 ] and investors constituted an increasing share of the buyers of these units (41% in Ontario).
Bill 28, the Miscellaneous Statutes (Housing Priority Initiatives) Amendment Act, 2016, is a British Columbian law that came into force on August 2, 2016. The law was introduced after calls urging the British Columbia provincial government to intervene in the housing market and curb foreign investment that was seen as a major contributor to the rapid rise in home prices.
During the pandemic, in February 2022, it was reported that the Canadian housing market was experiencing an unexpected boom with record-breaking high prices, combined with historically low interest rates and a decreasing supply of real estate. In both 2020 and 2021 real estate sales records were broken.
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Better Dwelling was founded in 2017 as a real estate news service that used artificial intelligence to assist with its data journalism. It was co-founded by Stephen Punwasi. In 2017, the company began a daily news syndication service carried by mainstream news publishers such as Business Insider, HuffPost, [2] and Maclean's. [3]
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related to: vancouver real estate news prices risinghouseful.ca has been visited by 10K+ users in the past month