Kerrisa Wilson

As a result of the stricter mortgage regulations that rolled out nationwide six months ago, housing demand in British Columbia continued to soften in June, pushing most markets into balanced territory.

On a global scale, home prices are rising at their slowest rate since 2015. But, in the first quarter of 2018, the City of Vancouver continued to outperform all Canadian markets, and many international markets, with the fourth largest annual price growth out of 150 cities worldwide.

Just like Vancouver’s conventional housing market, activity in the city’s luxury segment took a nosedive in the first half of 2018. And this downward trend is likely to continue through the rest of the year.

Greater Vancouver home price growth has eased this year with the introduction of a new mortgage stress test, higher interest rates and new BC housing policies. That didn’t stop condo prices from soaring to new heights last quarter, and market experts expect further growth in the coming months.

According to new research, rental prices in the City of Vancouver declined for the first time this year. If the trend continues, this could bring relief to the city’s renters who have endured years of significant rent increases in the red-hot market.

It’s been six months since stricter mortgage regulations came into effect and the measures are linked to persistent sales declines in the City of Vancouver’s detached housing market.

After six months of stricter mortgage regulations and higher interest rates, housing demand in Metro Vancouver continued to decline in June, while supply levels soared.

Six months after the roll out of new Canada-wide mortgage regulations, Calgary’s housing market continued to cope with weak demand and declining prices in June.

It’s been six months since new mortgage regulations came into effect, which have been blamed for the slowdown in Greater Vancouver’s once red-hot housing market.

Vancouver is the most expensive city for residential real estate in the country and it’s forcing the city’s homebuyers to stretch their budgets to purchase homes in the hot market.