From today’s Province newspaper.

Hotter housing prices in Vancouver and other desirable West Coast cities close nearby may be driving young people out of the region or even the province in greater numbers.

There is no shortage of anecdotes about families, couples and even singles deciding to up stakes and settle where the grass may or may not be greener but at least there is a lawn.

Vancouver’s $1-million-plus houses are already the most expensive in the country and they continue...

Article courtesy of REBGV:

When REALTORS® ask potential home buyers what one expense can mean the difference between signing a contract to buy a home and sitting on the fence, they’ll likely say the same thing: it’s the taxes. The tax that makes homes more unaffordable in an already expensive market is the Property Transfer Tax (PTT).

For 25 years, the PTT has been adding to the cost of homes. Hardest hit are low equity buyers who may not qualify for the PTT First Time Buyer’ Program...

The 2011 Greater Vancouver housing market began with heightened demand in regional hot spots and concluded with greater balance between seller supply and buyer demand.

The Real Estate Board of Greater Vancouver (REBGV) reports that total sales of detached, attached and apartment properties in 2011 reached 32,390, a 5.9 per cent increase from the 30,595 sales recorded in 2010, and a 9.2 per cent decrease from the 35,669 residential sales in 2009. Last year’s home sale total was 6.3 per cent...