British Columbia remains well-positioned to continue supporting people and navigating emerging global economic headwinds with an improved second-quarter fiscal update.

On National Housing Day, the Province is releasing data that shows the speculation and vacancy tax (SVT) continues to turn empty units into homes and support the creation of additional affordable housing.

The first-of-its-kind Land Owner Transparency Registry is a step closer to supporting transparency in B.C.’s real estate market with a November deadline for pre-existing owners to file.

Grace Lore, Parliamentary Secretary for Gender Equity, has released the following statement in recognition of Equal Pay Day:  

British Columbia is well-positioned to support people through emerging global economic headwinds with preliminary numbers showing an improved fiscal forecast.

The Province’s year-end Public Accounts show B.C. had a strong fiscal result last year, bolstered by a faster-than-expected economic recovery as government made record investments to support British Columbians.

The expansion of the Speculation and Vacancy Tax will help eliminate speculative real estate practices and turn empty units into homes for people in additional communities in B.C. struggling with housing affordability.

B.C.’s speculation and vacancy tax (SVT) helped make homes more affordable in the SVT areas of the province, based on independent analysis by Tsur Somerville and Jake Wetzel.

Amendments to the Property Law Act introduced on Monday, March 28, 2022, will enable the creation of a new Homebuyer Protection Period to protect people buying a home in a challenging real estate market.