Is the BC cottage price drop prediction accurate?

by Steve Randall11 Jun 2018

The recent report suggesting that recreational property prices in British Columbia are set to decline this year has been questioned.

The Royal Le Page national report forecasts a 2.8% decline for the province’s cottage homes due to the impact of the province’s tax on secondary homes.

However, the tax is not province-wide and in some areas that are not subject to the additional tax burden, things may be different.

“I don’t agree with those [price] forecasts,” Bruce Lasuta, a veteran Royal LePage agent in Sechelt on the Sunshine Coast told Business Vancouver (

He says the market is booming and data from the Real Estate Board of Greater Vancouver cited in the article shows a 7.9% rise in Sunshine Coast detached home prices since the speculation tax was introduced elsewhere in February.

Lasuta told Business Vancouver that he thinks the RLP report’s numbers were “made up in Toronto” and don’t reflect local market conditions.

Demand and prices in those parts of BC which are not affected by the speculation tax could benefit from weaker demand in the markets that are.

In response, RLP CEO and president Phil Soper said the perception remains that the speculation tax will impact the recreation market.

Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate

Market update:

Get help choosing the best mortgage rate

Just fill in a few details, and we'll arrange for a Mortgage adviser to help you find the best mortgage for your needs

  • How soon do you want a mortgage?
  • Name
  • Where do you live?
  • Phone number
  • E-mail address

Industry news

Submit a press release


Do you invest in commercial properties?