How the speculation tax on second homes will affect B.C.’s real estate market

B.C.’s 2018 budget includes the introduction of a speculation tax on some secondary homes. Royal LePage surveyed 535 real estate professionals in B.C. and Alberta, finding that 85 percent of advisors operating in B.C. believe the new tax policies have hurt consumer confidence in residential real estate across the province. Many also expect home sales and prices to decrease.