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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.

“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...

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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...

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

 

 

WATCH: Inside Canada's new mortgage rules coming into effect on Feb. 15.

“The increase will raise the bar to homeownership quite materially in Vancouver and Toronto,” housing experts at RBC Economics say. “Especially for first-time buyers.”

 

Announced in December by Finance Minister Bill Morneau, the minimum amount a buyer will have to put down on a home worth half a million dollars or more will increase from 5 per cent of the price to a blended, higher rate: 5 per cent down on the first $500,000, and 10 per cent down on any dollar value above that amount.

Let’s use the example of a $700,000 home. Under the (soon to be old)...

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Categories:   Bear Creek Green Timbers, Surrey Real Estate

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