Legislation introduced creates new measures to help make home ownership more affordable, establishes a fund for market housing and rental initiatives, strengthens consumer protection, and gives the City of Vancouver the tools it requested to increase rental property supply.

The Province released the first set of data resulting from new measures to track the extent of foreign real estate transactions. 

Premier Christy Clark announced that government will end the industry self-regulation in the real estate industry and overhaul governance, oversight, transparency and accountability of the sector.

Finance Minister Michael de Jong made the following statement in response to the Real Estate Council of B.C. releasing the Independent Advisory Group’s final report on B.C.’s real estate sector.

With municipal and rural property tax deadlines just around the corner, home owners can look into several provincial programs that may help with some of the financial pressures of home ownership.

British Columbia’s continued fiscal discipline and steady economic growth are providing the means for new and increased funding for services, helping families with the cost of living, and taking new steps to help promote home ownership.

The B.C. economy is expected to continue seeing stable growth in the coming years despite ongoing global volatility according to the independent Economic Forecast Council.

British Columbia’s Second Quarterly Report continues to forecast a surplus in the current fiscal year, another sign that prudent fiscal planning has helped offset the effects of a volatile economic landscape.

British Columbians are invited to share their priorities for the next provincial budget with the release of the 2016 Budget Consultation Paper.