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The average Dartmouth-Halifax house price was $471,746 last month, up almost 23 percent from $384,001 last September, the Canadian Realty Association reported. Even with that cost climb, Ms. Rostek said buyers from Ontario and Western Canada have been drawn to the market because they would have to pay far more for a home somewhere else.

1-million in September in both the Greater Toronto and Greater Vancouver areas. Extra taxes won't hinder out-of-province financiers due to the fact that they still save by purchasing in Nova Scotia, Ms. Rostek said. "It's still, specifically in their eyes, extremely great overall."However, the marketplace has all at once seen little increase in supply, pushing Canada Mortgage and Housing Corp.

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In July, CMHC found the average days a Halifax-Dartmouth home spent on the market was 13, down significantly from 45 in January.  You Can Try This Source  of readily available homes the typical time invested in the market in Nova Scotia was 2. 2 months at the end of July, a slide from 2.

3 months. The proposed taxes, Ms. Rostek stated, wouldn't increase real estate supply by much, if at all, and would not provide relief for home purchasers. "At the end of the day, we're still going to have an issue here up until there's more supply," she stated. Matthew Honsberger, a Nova Scotia real estate agent with Royal Le, Page, concurred and added that he discovers the proposed policy "disappointing.""I don't know that it's enough to discourage individuals, but it does feel punitive, and it does feel like it's singling out people who have an interest in pertaining to the region," he stated.