Benchmark Price and HPI in the Green for March ✅

Here is your weekly update on what is going on in the real estate market. From localized announcements to international trends, stay in the know about what is going on all things real estate. 

Federal budget hikes capital-gains tax on companies and wealthy individuals

The federal government is increasing capital gains taxes on wealthy individuals and companies, leaning on an affluent segment of the population to finance billions in new spending on housing and other government priorities. The federal budget, released Tuesday, increases the inclusion rate on some capital gains. Businesses will now pay income tax on two-thirds of their capital gains earnings, up from one half. The increase will also apply to individuals, but only on capital gains earnings over $250,000.

Canada's budget 2024: Housing strategy could inflict short-term pain, say industry watchers

A long-run focus on boosting housing supply in Tuesday’s federal budget is earning praise from the housing and real estate industries, but some are questioning whether the efforts might make the country’s affordability issues worse in the short term. “Allowing first-time buyers to make larger RRSP withdrawals for down payments, or secure 30-year amortizations when they buy new construction, will increase buying power and bring more people to the market at a time when there’s already a shortage of properties to bid on,” said Clay Jarvis, personal finance author at the website NerdWallet, in reference to two measures the Liberals had telegraphed ahead of the budget announcement.

Is Canada on the Cusp of a Hot Spring Housing Market?

The first few weeks of March were not much to write home about, and then something interesting happened with the Canadian real estate market. The tides turned around the second week of March when there was a bounce in new supply, which lead to a “burst of sales” to close out the month, according to the latest data from the Canadian Real Estate Association (CREA).

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Bay of Quinte Home Show

The Bay of Quinte Home Show is proud to announce the upcoming 2024 Home Show, a showcase of the latest trends, innovations, and inspirations for your home. They can’t wait to welcome you to the 2024 Home Show and inspire your home journey!