Residential property assessments climb in Nova Scotia
Residential property assessments are climbing in Nova Scotia.
Dan Shaw from the Dalhousie Rowe School of Business believes the increase in property assessments is linked to the current real estate market, especially in Halifax.
“Housing prices are very high and looking at last year in ‘20-21 it was up about 19 per cent,” said Shaw.
Residential property assessments are up almost 11 (10.8) per cent in Nova Scotia and more than 13 (13.4) per cent in Halifax. Supply and demand within the real estate market is a driving factor.
“You also have you also have incredibly low amount of houses on the market." said Shaw. "I think it was a 20 year low.”
As property values and assessment rates continue climb in Nova Scotia, mortgage broker Clinton Wilkins said it could be worse.
“We still are very affordable compared to many areas across the country,” said Wilkins, who added population growth is also causing property values and assessments to climb.
“We have a lot of people moving here from across the country," said Wilkins. 'There is no place I would rather live than Nova Scotia and I think the word is getting out that we have a great lifestyle here.”
The rate of people moving to Nova Scotia from other Canadian provinces is historically high.
“We have we have in-migration from other provinces that has come up very sharply," said Shaw, who added the notion of Nova Scotia being a hotspot destination is also spreading globally.
“I was on the phone with a business being in Qatar and he said to me 'I hear Halifax is going to be the new Seattle,’ " said Shaw.
Shaw expects further sustained population growth which could possibly cause real estate values and assessments to climb even higher.
According to seniors advocate Bill VanGorder, this is not good news for seniors who own their homes and live on fixed incomes.
“What they are really concerned about, is politicians, especially municipal politicians realize this is not an excuse to raise the taxes,” said VanGorder.
VanGorder said taxes do not need to go up just because assessment values have increased.
CTV reached out to several HRM Councillors for comment, but we did not get a response.
CTVNews.ca Top Stories
Quebec confirms first two cases of monkeypox; 20 other suspected cases under investigation
Quebec's health ministry announced Thursday evening there are two confirmed cases of monkeypox in the province, while 20 other suspected cases are still under investigation.
Monkeypox: What is it and how does it spread?
A growing number of countries, including Canada, the U.S., Spain, Portugal, and the U.K, are reporting an unusual outbreak of monkeypox. Here is what we know about this rare virus.
Ed Fast says it became 'untenable' to do job as Conservative finance critic
Conservative MP Ed Fast said it was becoming 'untenable' to do his job as finance critic within the Conservative Party of Canada, which is why he asked to be relieved of his duties.
Canada banning Chinese telecom giant Huawei, ZTE from 5G networks
Canada is banning China's Huawei Technologies and ZTE, another Chinese company, from participating in the country's 5G wireless networks, citing national security and cybersecurity concerns. Industry Minister Francois-Philippe Champagne and Public Safety Minister Marco Mendicino made the announcement about prohibiting products and services from these 'high-risk vendors,' in Ottawa on Thursday.
Abortion accessibility in Canada: The Catholic hospital conflict
A leaked draft showing that the U.S Supreme Court justices are preparing to overturn the Roe v. Wade abortion-rights ruling has sparked debate in Canada, including whether Catholic hospitals can impede your access to abortion.
N.B. coroner jury says use-of-force policy needs review after officer kills woman
An independent group should review the use-of-force policy that guides New Brunswick police to ensure it is concise and understood by all officers in the province, a coroner's jury recommended Thursday.
Maud Lewis painting, once traded for grilled cheese sandwiches, sells for $350K
A painting by Nova Scotia artist Maud Lewis that was once traded for a few grilled cheese sandwiches, recently sold for an astounding $350,000 at auction.
Charity calls on government to help resettle 300 LGBTQ2S+ Afghans trying to escape to Canada
A charity that focuses on helping LGBTQ2S+ refugees facing violence and discrimination internationally is calling on the Canadian government to partner with them to facilitate a way out for hundreds of Afghans who have reached out to them in desperation.
Prince Charles acknowledges suffering of residential school survivors
Prince Charles says he and Camilla, the Duchess of Cornwall, were departing Canada with 'heavy hearts' and a deeper understanding of residential schools after their royal visit wrapped in the Northwest Territories.
Toronto
-
Health officials discover nearly 1,000 cases of new COVID-19 subvariant in Ontario
Nearly 1,000 cases of a new Omicron COVID-19 subvariant dubbed 'BA.2.20' have been detected in Ontario, health officials say.
-
INVESTIGATION
INVESTIGATION | Details vanish from Ontario MPP investment property disclosures as their value skyrockets
An unpublished decision by a provincial watchdog has removed many details from view of the real estate investments of dozens of candidates vying for re-election, even as those assets surge in value to more than $36 million, a CTV News investigation has found.
-
Toronto vigil held for victims of Buffalo mass shooting
A vigil was held in downtown Toronto Thursday evening to remember the victims of a mass shooting at a Buffalo supermarket and to denounce anti-Black racism.
Calgary
-
Alberta Advantage? Rachel Notley hopes to pick up support that Jason Kenney lost
Thousands of Albertans were stunned Wednesday night when Premier Jason Kenney announced his impending resignation from the job.
-
Flames to host Saddledome viewing party for Game 3
The Flames delivered some not so hot news and some good news Thursday regarding viewing parties for upcoming games.
-
Victim of 'random attack' on CTrain recovering in hospital
A 25-year-old Calgary man is facing several charges in connection with a random stabbing that took place on a CTrain on Wednesday.
Montreal
-
Quebec confirms first two cases of monkeypox; 20 other suspected cases under investigation
Quebec's health ministry announced Thursday evening there are two confirmed cases of monkeypox in the province, while 20 other suspected cases are still under investigation.
-
Legal community concerned about access to justice rights under Quebec's Bill 96
After protests in CEGEPs, health care and in the business world, the legal community is now expressing concerns about Bill 96.
-
Doctors on Quebec monkeypox frontline: 'I had never heard of this disease 24 hours ago'
Health-care professionals at the forefront of containing monkeypox’s possible arrival in Montreal say it’s too early to know just how far the virus has spread.
Edmonton
-
Jason Kenney has quit as UCP leader. What happens to the party and government now?
With Jason Kenney having stepped down as leader of Alberta's United Conservative Party, who is now leader of the province?
-
'Immediate crisis': EPS chief rushing more officers into downtown Edmonton
After outlining a violent 24 hours in downtown Edmonton, the city's police chief promised Thursday to scramble more officers into the core faster than previously planned.
-
2 men killed in separate Chinatown attacks, man in custody: EPS
Two men are dead after separate attacks in Chinatown on Wednesday, police said a day later.
Northern Ontario
-
Two of four Ontario party leaders sick with COVID-19
As Ontario's election date approaches, two of the province’s four main political party leaders have tested positive for COVID-19.
-
Ontario NDP leader sidelined with COVID-19, misses Sault event
Ontario NDP leader Andrea Horwath was set to kick off her northern tour in Sault Ste. Marie this week. However, after testing positive for COVID-19, Horwath is in isolation and unable to attend in-person campaign events for the time being.
-
Students spruce up the grounds of the Walford retirement home in Sudbury
Grades 7 and 8 students at École St-Denis are paying it forward as part of a class project.
London
-
Nearly 70 people displaced by fire at Hanover, Ont. rooming house
Nearly 70 people are getting emergency community support after fire ripped through a building in downtown Hanover, Ont.
-
Gas prices expected to fall another 10 cents in time for long weekend
If you think that long weekends always means a spike in gas prices, you’ll be pleased to know that this Victoria Day weekend is expected to be the exception to that rule.
-
‘Who are the offenders?’: Police board seeks data on hate crime perpetrators
Hate crimes aim to intimidate, terrorize, and sometimes kill Londoners— and they’re on the rise.
Winnipeg
-
Remains of women found in Winnipeg, victim of 'horrifically grisly' homicide: police
Police say a "horrifically, grisly scene" near an apartment building where the partial remains of a woman were discovered this week has also taken investigators to a landfill.
-
Teen arrested in death of 31-year-old man; also charged in February assault
Winnipeg police have arrested a 17-year-old male in connection to the death of a 31-year-old man who was found injured near Slaw Rebchuk Bridge before he died in hospital.
-
Surgical procedures returning to 'pre-pandemic' levels in Manitoba
The taskforce aimed at reducing the surgical backlog in Manitoba says surgical procedures are consistently being performed at levels before the COVID-19 pandemic.
Ottawa
-
Canada banning Chinese telecom giant Huawei, ZTE from 5G networks
Canada is banning China's Huawei Technologies and ZTE, another Chinese company, from participating in the country's 5G wireless networks, citing national security and cybersecurity concerns. Industry Minister Francois-Philippe Champagne and Public Safety Minister Marco Mendicino made the announcement about prohibiting products and services from these 'high-risk vendors,' in Ottawa on Thursday.
-
'Holy grail of all finds': Ottawa boy finds gun while magnet fishing in creek
A 12-year-old Ottawa boy is sharing his story after a magnet fishing trip turned up an unexpected find.
-
NEW THIS MORNING
NEW THIS MORNING | What's happening in Ottawa this weekend: May 20-23
CTVNewsOttawa.ca looks at activities and events happening in Ottawa, eastern Ontario and western Quebec over the Victoria Day long weekend.
Saskatoon
-
Saskatoon police investigating after reports of shots fired, male found dead behind apartment building.
Saskatoon police are investigating after reports of two men being injured, shots fired and one person found dead.
-
'People didn't matter': Tenant details relationship with failed Saskatoon real estate firm
A Saskatoon woman says she knew she wasn’t dealing with a typical real estate company the day Epic Alliance took over her property in 2019.
-
Prince Albert homicide victim remembered as 'hard-working and helpful'
Charmaine Poorman isn’t ready to forgive the man accused of killing her brother, but she says her brother would.
Vancouver
-
Here's how you can save money on groceries while inflation is high
Many shoppers in Metro Vancouver are looking for ways to stretch their grocery budget as they deal with the rising cost of food.
-
Burnaby company granted Health Canada licence to produce 'magic mushroom' medicine
A small team of around 20 employees at Burnaby's Albert Labs recently received a Health Canada license to further pursue its work in producing psilocybin from mushrooms.
-
Wages vs. inflation: As costs rise, living wage advocates hope to see B.C. better address affordability
With Canada’s inflation rate hitting a 31-year high last month, people are paying a lot more for many basic needs including food and shelter, and wages have not kept up.
Regina
-
Sask. premier calls Jason Kenney's resignation a 'loss'
Saskatchewan’s premier says Jason Kenney’s resignation from his post in Alberta is a “loss.”
-
Sask. WHL teams, talent ready for future after 2022 draft
The WHL U15 draft is the time where teams, players, families and fans can look toward the future of their respective franchises.
-
Fierce debates cap off Sask. legislative session
The spring session of the Saskatchewan Legislative Assembly came to a close on Thursday, wrapping up 10 weeks of fierce debate in the house.
Vancouver Island
-
Canadian warships return to Esquimalt, B.C., after three-month operation
Two Canadian navy ships returned to their homeport in Esquimalt, B.C., on Thursday following their participation in Operation Caribbe, a counter-narcotics mission led by the U.S.
-
Car travelling 185 km/h on Malahat impounded: RCMP
Two drivers were slapped with temporary driving bans and had their vehicles impounded for seven days after they were spotted speeding excessively on the Malahat highway, according to RCMP.
-
Mounties cleared of wrongdoing in Nanaimo man's death
British Columbia's police watchdog has cleared the RCMP of any wrongdoing in the death of a man in Nanaimo, B.C., last month.