Bank of Canada Holds Rate Steady at 2.75% 

What This Means for Okanagan Buyers and Sellers

The Bank of Canada held its overnight rate steady at 2.75% this morning, signaling a wait-and-see approach as trade uncertainty clouds the outlook. While some were hoping for a rate cut, Governor Tiff Macklem confirmed the Bank is not ready to move until it has clearer signals on how tariffs and global policy shifts are impacting inflation and growth.

Why the Hold?
Despite stronger-than-expected GDP growth in Q1 (2.2%), much of it was driven by businesses front-loading exports to avoid tariffs. Inflation dropped to 1.7%, largely due to the removal of the federal carbon tax, but underlying inflation (excluding taxes) ticked up to 2.3%. Core inflation is…

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How U.S. Tariffs Could Impact BC Housing

The potential for new U.S. tariffs on Canadian imports has sent ripples through the economy—and BC’s housing market won’t be immune. With rising tensions and uncertain economic forecasts, buyers and sellers in the Okanagan need to be prepared for how these changes could affect home prices, mortgage rates, and market activity in the months ahead.

The Economic Outlook: What’s Changing?

Canada’s economy was on track for stronger growth in 2025, but the threat of U.S. tariffs has changed the conversation. The U.S. is Canada’s largest trading partner, and any disruption to that relationship could slow economic growth, impact jobs, and trigger policy changes—all of which could affect real estate in BC.

What…

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Buying a Condo with Two Dogs 

What You Need to Know About Strata Living in Kelowna

Finding the perfect condo in Kelowna when you have two dogs can feel like navigating a maze. Strata rules vary widely, and many pet-friendly buildings have limitations that make it challenging for dog owners—especially those with multiple pets. But don’t worry! We’ve got the inside scoop on how to navigate these hurdles and successfully purchase a condo that suits you and your furry companions.

Why Newer Developments Are More Pet-Friendly

As demand for pet-friendly housing rises, many newer condo developments in Kelowna are becoming more accommodating. Developers recognize the importance of pets in people’s lives and are keen to attract buyers with four-legged…

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Kelowna Market Update

As 2024 wrapped up, the Kelowna real estate market showed clear signs of stability, setting the stage for a potentially balanced and opportunity-filled 2025. Here’s a closer look at what the latest data means for buyers and sellers—and how you can take advantage of these trends.

What December's Numbers Say

  • Sales Activity: December saw 716 residential sales across the region—a typical seasonal dip from November but a remarkable 30.7% increase compared to December 2023.
  • Inventory Growth: New listings rose by 7.9% year-over-year, with 928 properties added in December. Active inventory jumped 14.1%, offering buyers more options than we’ve seen in years.
  • Price Shifts:
    • Single-family homes showed steady price growth…

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What You Need to Know

About BC’s New Home Flipping Tax

As the Okanagan real estate market continues to evolve, it’s important to stay informed about new regulations that could affect your decisions. One such change is BC’s Home Flipping Tax, introduced to discourage rapid property resales and promote housing stability.

For homeowners in Kelowna and throughout the Okanagan, understanding this tax and how it could impact your property’s value is essential.

BC Home Flipping Tax: The Basics

This tax applies to properties resold within two years of purchase. While it’s designed to target speculative investors, it can also affect regular homeowners selling sooner than planned.

How Does It Work?
  • Eligibility: The tax applies to most…

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2025 Housing Market Trends for the Okanagan

As we step into 2025, there’s plenty of optimism for homeowners and buyers alike. According to RE/MAX Canada’s latest Housing Market Outlook, residential prices are expected to grow nationwide this year. Here in the Okanagan, this signals an exciting year ahead in our local real estate market.

Key National Trends for 2025

  • National Average Price to Rise by 5%
    With interest rate cuts in late 2024, prices are rebounding across Canada.

  • A Surge in Seller’s Markets
    Nearly half of all regions are forecasted to favor sellers.

  • Increased Buyer Optimism
    Changes to mortgage stress tests and other affordability measures have made 50% of Canadians feel more confident about homeownership compared…

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Navigating the New Tenancy Laws of 2024

Implications for the Okanagan Real Estate Market

Hi, Okanagan friends! It’s Gillian from Goldilocks Estates, here with some crucial updates about our local real estate market. The new tenancy laws of 2024 have introduced significant changes that both buyers and sellers need to be aware of. These updates aim to create a fairer balance between landlords and tenants, and I'm here to help you understand what this means for you.

Key Changes in the Tenancy Laws

Protection for Seniors in Retirement Homes One of the most notable changes is the protection of residents in retirement homes from illegal rent increases and evictions. This is fantastic news for our senior community, offering them peace of mind and…

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Welcome to Goldilocks Estates - Your Premier Guide in Central Okanagan's Market!

I'm Gillian Krol, owner of Goldilocks Estates, and I'm eager to delve into what the recent interest rate cut by the Bank of Canada means for both buyers and sellers in Central Okanagan.

Understanding the Bank of Canada's Decision

The recent decision by the Bank of Canada to reduce its overnight interest rate to 4.75% marks a significant shift in the economic landscape, especially for the real estate market in our region. This move comes amidst ongoing efforts to manage inflation and stimulate economic growth.

Implications for Buyers

Lower interest rates present exciting opportunities for prospective homebuyers. With reduced borrowing costs, owning a home…

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A Guide to Property Transfer Tax Exemptions for First-Time Home Buyers in British Columbia

Unlocking the Potential of the First Time Home Buyers' Program in Kelowna

Hello, future homeowners! Are you ready to take the leap into homeownership in the picturesque city of Kelowna, British Columbia? The First Time Home Buyers' Program is here to pave the way for you by offering substantial benefits in the form of property transfer tax exemptions. Let's delve into how first-time home buyers in British Columbia can leverage these exemptions to turn their homeownership dreams into reality.

Understanding the First Time Home Buyers' Program

The First Time Home Buyers' Program is designed to provide a full or partial exemption from the property transfer…

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Spring 2024: A Snapshot of Central Okanagan's Real Estate Market

Hi, Okanagan friends! It’s Gillian from Goldilocks Estates, back with a quick update on our local real estate market as we step into spring 2024. The Central Okanagan region is abuzz with some intriguing developments, and I'm excited to share the insights with you.

BC's Market at a Glance

Across British Columbia, there has been a 15.3% jump in residential unit sales and a 4.7% rise in average prices this February compared to last year. With total sales reaching $5.4 billion, marking a hefty 20.7% increase, it's clear that the province is witnessing a significant shift. This sets a lively backdrop for our local market dynamics in the Central Okanagan.

The Central Okanagan Story

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