Since BC raised taxes with a 15% foreign buyers tax, prices shot up 28% in Toronto. Now Toronto is going to bring in a similar foreign buyers tax. Ozzie on where is the foreign money is going to drive up prices now.
A forecast by Ozzie comes true with a 19% decline in Vancouver housing prices. The number of sales of single family dwellings is down tremendously and buyers are moving to different classes of dwellings
The BC market is still strong and is still attracting foreign buyers...including US buyers and multiple offers and bidding wars. Other hot markets in Canada are in the sights of government for more regulation and taxes.