Poll finds most back foreign buyer tax, doubt it will cut prices

Insights West survey: 76 per cent support new 15 per cent tax on foreign buyers, but many think it won't improve affordability

Create bar charts



While most B.C. residents support the province’s new 15 per cent foreign buyer tax, two thirds don’t think it will make it easier for locals to own a home.

That’s the finding of a new Insights West poll released Wednesday.

The online survey found 76 per cent support the foreign buyer tax that now applies on all residential real estate transactions in Metro Vancouver, while 17 per cent oppose it and seven per cent are undecided.

Strong support for the tax ran across party lines, according to Insights West.

But 68 per cent think the new tax will not succeed in “making it easier for British Columbians to afford a home.”

RELATED: Pundits split on whether foreign buyers tax will cool market

Most (73 per cent of all respondents and 67 per cent of previous BC Liberal voters) had little to no confidence in the government’s pledge to reinvest the revenue from the new tax into affordable housing projects.

“While British Columbians of all political stripes are in favour of the foreign buyer tax, they are also united in doubting its efficacy,” said Insights West vice-president Mario Canseco. “The promise of revenue going into a special housing fund to be spent on affordability projects is currently unconvincing, even for the government’s supporters.”

Asked if they expect their home’s value to be higher or lower a year from now as a result of the foreign buyer tax, 52 per cent in Metro Vancouver said they expect it to be about the same, 22 per cent think it will be somewhat higher, two per cent said much higher, 19 per cent thought it would be somewhat lower and three per cent think it will be much lower.

Just Posted

VIDEO: Langley firefighters spend hours battling blaze in vacant home

Cause of the late-night fire in Willoughby is still under investigation

LETTER: Faster and easier for Willoughby residents to shop in Pitt Meadows

Writer frustrated with traffic nightmares that have and continue to plague her growing neighbourhood

VIDEO: Fan support almost deafening as Giants take Game 2 in finals

Vancouver G-Men cap comeback with thrilling third period to beat Spokane 4-2 on home ice in Langley

Bobcats, bears, and otters, oh my!

Critter Care Wildlife Society’s 20th anniversary gala set for next Saturday in Langley

VIDEO: Giants draw first blood in Western Conference championships

In Game 1 of the best-of-seven series between Vancouver and Spokane, the G-Men emerged triumphant

‘No answers:’ Canadians react to Sri Lanka bombings that killed hundreds

The co-ordinated bomb attacks killed at least 207 people and injured 450 more on Easter Sunday

RCMP confirm witnesses say body found at Kelowna’s Gyro Beach

Police tape is blocking part of the beach and several RCMP officers are on scene.

Police say ‘no major incidents’ at 4/20, Vancouver Park Board assessing

The first smoke-out held since legalization saw 60,000 people at Vancouver’s Sunset Beach

B.C. fire department rescues kittens

Enderby homeowner not aware kittens in wood pile near garbage pile fire that got out of hand

RCMP looking for witnesses to four-vehicle crash in Burnaby

Police suspect impaired driving was a contributing factor

QUIZ: How much do you know about Easter?

Take this short quiz and put your knowledge to the test

B.C. VIEWS: NDP’s lawyer show is turning into a horror movie

Court actions pile up over pipelines, car insurance, care aides

Global Affairs warns Canadians in Sri Lanka there could be more attacks

A series of bomb blasts killed at least 207 people and injured hundreds more

Most Read