Area Real Estate News & Market Trends

You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

July 11, 2024

Nova Scotia Housing Market Snapshot for June 2024

Nova Scotia Housing Market Snapshot for June 2024

The real estate market is always evolving, and keeping up with the latest trends is crucial for both buyers and sellers. The Nova Scotia Association of REALTORS® has released its housing market snapshot for June 2024, providing valuable insights into the current state of the market. Let's explore the key statistics and trends from the report, offering a comprehensive analysis to help you make informed decisions.

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Posted in Buying, Market Updates
July 9, 2024

Transforming Halifax: New Zoning Regulations and the Accelerator Fund

•	Halifax zoning changes

Halifax is undergoing significant changes in its zoning regulations to meet the growing demand for housing. These changes are part of a larger plan to speed up housing development and enhance the urban landscape. This article delves into the new zoning regulations, the introduction of the Accelerator Fund, and the anticipated impacts on Halifax's housing market.

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Posted in Buying, Market Updates
Feb. 6, 2023

Halifax (HRM) Property Taxes - How much and how they are calculated.

How Property Taxes are Calculated in the Halifax (HRM), Nova Scotia Area

Property taxes in Halifax Regional Municipality (HRM) are calculated by multiplying the tax rate by the assessed value divided by 100. The Province of Nova Scotia assigns this value to the property each year for tax purposes only, and it cannot be used to establish the market worth of real estate. However, it is critical to understand how property taxes are calculated in the HRM, especially if you are acquiring a new home here. There are two types of evaluations in the HRM: capped rate assessments and current market value assessments.

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Posted in Buying
Jan. 13, 2023

The Prohibition on the Purchase of Residential Property by Non-Canadians Act

The Canadian government has introduced new legislation known as the Prohibition on the Purchase of Residential Property by Non-Canadians Act, to address housing affordability and accessibility issues in Canada. The Act which went into effect on January 1, 2023 and forbids non-Canadians from purchasing Canadian residential property for two years. This legislation is a response to the high housing costs which have been a major source of anxiety for many Canadians trying to buy a home in recent years. The legislations’ purpose is to ensure that Canadian residential properties are largely sold to Canadian buyers.

What’s included in Residential Properties?

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Posted in Market Updates
Jan. 10, 2023

NEW NON-RESIDENTIAL DEED TRANSFER TAX IN NOVA SCOTIA

On April 1, 2022, the Province of Nova Scotia implemented a new non-residential deed transfer tax called the Non-Resident Provincial Deed Transfer Tax. This tax will affect property transactions in Nova Scotia.

Non-Resident Provincial Deed Transfer Tax

The Non-resident Deed Transfer and Property Taxes Act applies to the transfer of ownership of non-residential properties, such as commercial and industrial properties, within the province of Nova Scotia. This new tax will be applied at a rate of 2% of the purchase price of the property, with certain exceptions. The purpose of this tax is to make non-residential property ownership more accessible to Nova Scotians, as it is believed that non-resident ownership has contributed to the increase in property prices in the province. This new tax will be administered by the Department of Municipal Affairs, and will be collected at the time of the transfer of ownership. It is important for anyone considering the purchase of a non-residential property in Nova Scotia to be aware of this new tax, and to factor it into their financial planning.

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Posted in Buying
Jan. 3, 2023

The Benefits of Hiring a REALTOR When Searching for an Investment Property

If you're looking to invest in Halifax real estate, the first step is to find a REALTOR. Investing in property is different from buying or selling a home, so it's important to find an agent with the right qualities, experience, and services for your needs. This is what we deem to be essential:

 1.        Real estate agents who assist investors are not intimidated by numbers. It is essential that your agent can view properties from a financial point of view, whether it be helping you calculate potential ROI, cash flow or cap rates. REALTORS usually help their residential clients evaluate properties based on lifestyle and affordability, but if you want to build a real estate portfolio, even if it's just a second property, you need someone who can help you understand the financials.

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Posted in Buying, Market Updates
Aug. 31, 2022

Rising Interest Rates, Inflation & What it means for the Halifax Real Estate Market

Of late, there is an enormous amount of news coverage regarding rising interest rates and inflation. And for good cause. The rising cost of food, gas, and housing are affecting us all. These necessities and their impact on our wallets bring home the message loud and clear. Interest rates are rising.  Inflation is out of control. And how they are intertwined is a delicate relationship.

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Posted in Buying
July 31, 2017

Curious About Local Real Estate?

Receive the Latest Local Market Stats

Curious about local real estate? So are we! Every month we review trends in our real estate market and consider the number of homes on the market in each price tier, the amount of time particular homes have been listed for sale, specific neighborhood trends, the median price and square footage of each home sold and so much more. We’d love to invite you to do the same!

Get Local Market Reports Sent Directly to You

You can sign up here to receive your own market report, delivered as often as you like! It contains current information on pending, active and just sold properties so you can see actual homes in your neighborhood. You can review your area on a larger scale, as well, by refining your search to include properties across the city or county. As you notice price and size trends, please contact us for clarification or to have any questions answered.

We can definitely fill you in on details that are not listed on the report and help you determine the best home for you. If you are wondering if now is the time to sell, please try out our INSTANT home value tool. You’ll get an estimate on the value of your property in today’s market. Either way, we hope to hear from you soon as you get to know our neighborhoods and local real estate market better.

Posted in Market Updates