Home sales rise for first time since March

Times Colonist- Existing home sales climbed in August for the first time in four months, the Canadian Real Estate Association said.

However statistics from the Ottawa-based group, which represents about 100 boards across the country, show prices continue to fall.

The average price of a home sold last month was $324,928, up only slightly from $324,843 a year ago. However, compared with last month, when the average price of a home sold was $330,351, prices are down 1.6%…

Home sales rise for first time since March

Home prices to jump as total sales fall, forecast predicts

Times Colonist-  Greater Victoria house prices will climb this year even though total sales are projected to dip from 2009, according to a new forecast from the B.C. Real Estate Association.

"B.C. housing markets are returning to typical post-recession demand patterns," the association said in its third quarter update yesterday.

This year, total Greater Victoria sales are expected to drop to 6,800, from 7,660 last year, the update said. Next year, sales will climb slightly to a total of 7,150…

Home prices to jump as total sales fall, forecast predicts

How to reduce the HST hit

Times Colonist- On July 1, Ontario and British Columbia implemented a harmonized sales taxes (HST), combining the federal goods and services tax (GST) of 5% with their provincial sales taxes (PST). The HST rates in those provinces become 13% and 12%, respectively.

Previously, only GST applied to the management fees and operating expenses associated with investment funds. Professionally managed investment portfolios are now subject to HST, including mutual funds, hedge funds, segregated funds, wrap products, charitable trusts and exchange-traded funds…

How to reduce the HST hit

New-home prices fall in Victoria, up in Canada

Times Colonist- National new housing prices rose for the 11th straight month in May, advancing 0.3 per cent compared to the month before and in line with analyst expectations, Statistics Canada reported yesterday.

Prices slid, however, for new homes in Greater Victoria, which dropped 0.4 per cent in May from April, and down 3.9 per cent in May compared to the same month the previous year.

In the capital region, the number of unsold properties has reached 4,700 and sales slowed last month to 625.

Prices also fell month-over-month in Kitchener, Ont., down 0.8 per cent, Windsor, down 0.2 per cent and London, off 0.1 per cent.

Monthly gains were led by Regina, where prices advanced 3.4 per cent, and Toronto and Oshawa, where prices rose 0.7 per cent…

New-home prices fall in Victoria, up in Canada

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