Surrey is set to become one of the first Canadian cities to embark a full changeover of street lighting to LED.

City councilors approved a five year implementation strategy earlier this month to replace 28,000 existing street lights with LED roadway lighting technology, starting with 7,100 street lamps in the Guildford and City Centre areas.

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“The move to convert our street lighting to LED is another example of Surrey being at the forefront of Smart Cities,” says Mayor Linda Hepner. “For motorists, cyclists and pedestrians the LED lights will enhance visibility and safety. LED lights also consume less power than the current sodium lights, which will result in significant cost savings to the City once the conversion is complete.”

Compared to normal “sodium” lights, LED lights reduce eyestrain and fatigue, and make it easier for road users to see...

10 things to know about the 2016/17 provincial budget:

1. Buyers of newly-built homes worth up to $750,000 will be exempt from the property transfer tax, saving up to $13,000, effective Wednesday (only for Canadian citizens or permanent residents).

2. The new home tax exemption will only apply to people who actually live in the home as their principal residence for a year after the purchase (relatives do not qualify) and B.C. will share information with Revenue Canada to double-check whether the rules are being followed.

3. Homes (both new and used) sold for more than $2 million will see an increased property transfer tax of 3 per cent, up from 2 per cent.

4. The existing first-time homebuyers program for used homes remains in place, but the threshold is unchanged for properties worth less than $475,000.

5. Property buyers will need to disclose their citizenship for government tracking.

6. MSP premium rates will rise $3 per month for an adult to $78, starting in 2017, but children are now...

New mortgage rules are about to hit first-time buyers in hot housing markets

Starting Monday, house hunters will face new rules requiring larger down payments on homes that are listed above $500,000. The changes are expected to have an impact on key real estate markets, but to what extent is up for debate.

Getting Started

• Get approved: It's really smart to be pre-approved with your mortgage so you know how much you can spend and you can be competitive with the bidding. And share that number with your realtor so they only show houses that are a fit for your budget.
• Demo right: Know the rules about additions in your city, which might change the way a small house looks if it sits on a big lot.
• What do you really need? Make a list of things you don't need and share it with your realtor. For example, sharing that you can live without an ensuite bathroom or a fully updated kitchen might help in a competitive market — and help you avoid a bidding war.
• Budget right: Just because you're approved for a certain amount doesn't mean that number actually fits your budget. Before even thinking about seriously putting an offer on any home, take a look at your monthly financials to determine how much of a mortgage you can really take on.
• Post-purchase money: Build a budget for...

The federal government is expected to tighten mortgage rules in an effort to cool the red-hot housing markets in Toronto and Vancouver, CTV News has learned.

The new regulations will increase the minimum down payment required to buy a home for more than $500,000, with portions beyond that amount requiring a 10 per cent down payment. The down payment on the first $500,000 will remain at five per cent.

For example, a home costing $700,000 would require a $45,000 down payment – a five per cent down payment on the first $500,000, added to a 10 per cent down payment on the remaining $200,000.

The regulations are expected to take effect in February 2016.

The regulations are expected to take effect in early 2016.

Buyers shopping for homes below the $500,000 mark will be unaffected by the new rules.