Kamloops Real Estate Blog

The BC Government recently released the BC First Time New Home Buyers’ Bonus program which would grant first time home buyers up to $10,000 back with the purchase of a new home. The requirements to qualify are below and to view the full PDF click the following link: 2012 First Time Home Buyers Fact Sheet.

You will qualify as a first-time new home buyer if:

– You purchase or build an eligible new home located in B.C.;
– You, or for couples, you and your spouse or common law partner, have never previously owned a primary residence;
– You file a 2011 B.C. resident personal income tax return, or if you move to B.C. after December 31, 2011, you file a 2012 B.C. resident personal income tax return (you will not be eligible for the bonus if you move to B.C. after December 31, 2012);
– You are eligible for the B.C. HST New Housing Rebate; and
– You intend to live in the home as your primary residence.

Vancouver, BC – February 28, 2012.The BCREA Commercial Leading Indicator (CLI) rose for the second consecutive quarter, advancing 1.1 points to an index level of 111. On a fourth-quarter over fourth-quarter basis, the CLI moved 1.6 per cent higher in 2011. While this is a marked slowing from the 5.2 per cent surge in 2010, the index picked up considerable momentum in the third and fourth quarter of the year, more than making up for a weak first half of 2011.

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The trend in the CLI turned up slightly as early softness in economic activity was smoothed out by a stronger second half of the year.  This change in trend indicates a positive economic environment for the BC commercial real estate sector in 2012.

“Improving economic data provided a strong tailwind for the CLI in the second half of 2011,” said Brendon Ogmundson, BCREA Economist. “However, growing anxiety surrounding the global economy could constrain the economic environment for commercial real estate this year.”

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