The mortgage stress test implemented in December of 2017 to slow down the Real Estate market has had a noticeable effect on property sales. The British Columbia Real Estate Association (BCREA) analysis puts the Vancouver market sales volume down by 33.8% from last year at the same time. In my opinion, this is a combination of the stress test implementation and the addition of the foreign buyers tax increase and the vacant home tax.
The full article from BCREA can be found here: CLICK HERE
