Times Colonist…..VICTORIA – As the average selling price for single-family homes in Vancouver surpasses $2.5 million, the provincial government moved Tuesday to ensure residents with property assessed at less than half that amount are eligible for homeowner grants.

OTTAWA – Canadians looking to buy homes valued over $500,000 will soon be required to come up with larger down payments in a move the federal finance minister says is designed to ensure stability in Canada’s biggest real estate markets.

Greater Victoria single-family homeowners can expect their upcoming assessed values to increase by an average of five to 10 per cent.