Surrey Real Estate After the 2025 Election: What Buyers and Sellers Should Expect
🗳️ What Canada’s 2025 Federal Election Means for Surrey’s Housing Market
🏠 House for Sale in Surrey, BC? Here’s How the New Government Could Impact You
Canada’s federal election on April 28, 2025, resulted in a continued mandate for the Liberal Party under Mark Carney, who secured a narrow victory. This outcome comes at a critical time for Surrey’s real estate market, which is currently defined by high inventory and slower-than-usual sales. For anyone planning to buy or sell a home in Surrey, BC, understanding how the new government's housing policies could influence the market is more important than ever.
🏗️ Liberal Housing Strategy: Build Canada Homes
A cornerstone of the Liberal platform is the ambitious Build Canada Homes (BCH) initiative. This program aims to double the pace of home construction to nearly 500,000 units annually, focusing on:
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Affordable Housing Development: Utilizing public land to build affordable homes at scale.
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Catalyzing a New Housing Industry: Encouraging innovation and investment in housing construction.
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Providing Financing: Offering financial support to facilitate homebuilding efforts.
For Surrey, this could mean increased availability of affordable housing options, potentially easing the current market imbalance.
💸 Financial Incentives for Homebuyers
The Liberals have proposed several measures to make homeownership more attainable:
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GST Elimination for First-Time Buyers: Removing the Goods and Services Tax on new homes priced under $1 million for first-time buyers.
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Affordable Housing and Groceries Act: Temporarily removing GST on new residential rental developments until the end of 2030.
These initiatives aim to reduce the financial burden on buyers and stimulate the housing market.
🌐 Economic Context: Tariffs and Trade Relations
The election was significantly influenced by U.S. President Donald Trump's aggressive trade policies, including the imposition of tariffs on Canadian goods. These actions have created economic uncertainty, affecting consumer confidence and investment decisions.
In Surrey, this uncertainty may contribute to cautious behavior among both buyers and sellers, impacting real estate transactions.
📊 Current Market Snapshot: Surrey and the Fraser Valley
As of April 2025:
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Sales Activity: The Fraser Valley Real Estate Board reported 1,043 sales, a 1% increase from March but a 29% decline compared to April 2024.
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Inventory Levels: Active listings surpassed 10,000, offering buyers a selection not seen in over a decade.
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Sales-to-Active Listings Ratio: Stands at 10%, signaling a buyer’s market.
These conditions suggest that buyers have increased negotiation power and more time to make purchasing decisions.
🏘️ Implications for Surrey’s Real Estate Market
For Buyers:
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Increased Options: High inventory levels provide a broader selection of properties.
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Negotiation Leverage: The buyer’s market conditions offer opportunities for favorable deals.
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Potential Price Stabilization: Government initiatives may lead to more stable or reduced housing prices.
For Sellers:
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Competitive Pricing Necessary: To attract buyers, pricing strategies must reflect current market conditions.
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Longer Time on Market: Properties may take longer to sell due to increased inventory and cautious buyers.
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Enhanced Property Presentation: Investing in staging and marketing can help listings stand out.
🔮 Looking Ahead: What to Expect
The new government's housing policies aim to address affordability and supply issues. However, the effectiveness of these measures will depend on their implementation and the broader economic context, including international trade relations.
For Surrey residents, staying informed about policy developments and market trends will be key to making strategic real estate decisions.
🧾 Additional Resources
📞 Contact Us
Have questions about buying or selling a home in Surrey, BC?
📧 Email: Sunny@Kaler.ca
📱 Call/Text: (778) 320-0002
🌐 Website: www.Kaler.ca
⚠️ Disclaimer
This blog is for informational purposes only and does not constitute professional financial, legal, or real estate advice. Always consult with a licensed REALTOR® or financial advisor for your specific situation.
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