Vancouver Home Prices to Drop 10% Following Recent Changes: Forecast

(October 26, 2016 )

Effect of new foreign buyer tax and mortgage changes will have most impact on detached houses, which will fall 20 per cent over the next year, predicts National Bank.

Recent changes such as the foreign buyer tax and strict new mortgage qualification rules have yet to cause a drop in home prices – but with sales likely to continue their slide, that drop will come, according to a National Bank forecast issued October 21.

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