Those prices are between four and seven per cent lower than they were six months ago, according to the board. "But I also have a lot of uncertainty around that because a lot can happen in the market." 'Homebuyers have been taking a wait-and-see approach for most of 2018,' said Phil Moore, president of the Real Estate Board of Greater Vancouver. After its first year in place, an empty homes tax has created $38 million in total revenue for the City of Vancouver. Homeowners in the rest of the province can expect increases of five to 15 per cent for assessed values of single-family homes.

Source: CBC News December 30, 2018 16:52 UTC