The BC Northern Real Estate Board isn’t expecting much movement either way from the 2018 BC Budget.
Bob Quinlan says one of the things that stood out was the increase in the Foreign-Home Buyers Tax in Vancouver from 15 to 20%.
However, he is not expecting much fallout from that decision in Prince George.
“We have already had a fair amount of spill off in our area because we are so affordable and right now, the market is very very active and I would say that the budget is going to have a minimal effect on us here in Prince George other than maybe some assistance because of the affordability of our real estate.”
“If there is any property that has some revenue to it is very, very attractive as the rent in this town continues to skyrocket and the vacancy rates continue to drop, if anything, it is going to assist us but we are rolling along quite fine right now.”
Quinlan is expecting the market to heat up once again as the weather improves into March and April.
“When the weather turns warm and the snow starts to melt, that’s when the sales start to up and that means the sales and the people putting up the for sale signs, we are seeing a spike the last couple of weeks in spite of the weather , we’re going to see a busy spring.”
This trend has taken place the last three or four years.