In a release March 13, 2019 BCREA states that the B20 stress test (for buyers with 20% or more down payment) continues the be a drag on the housing market in BC.
The release reports that for residential units (all types) sales were down 27% for February 2019 compared to February 2018. Further, the average price was down 9.3% compared to last year.
For our Board area (Vancouver Island Real Estate Board - VIREB), which covers the Island from the Malahat northward, unit sales were down 27.9%. Pricing behaved differently showing a 3.5% increased compared to February 2018.
The release did not comment on the effects of the foreign buyer tax for the markets where this applies.