Some new regulations will soon be implement in the housing markets, but Rob Reynar, the Manager of Operations and Member Services for the Association for Regina Realtors, said when it comes to the changes for foreign buyers it's specifically for larger centers with bigger housing markets.

According to the Government people who have purchased a home in Canada, but do not live here, can no longer claim the home here as their primary residence. In the past, foreign buyers were able to do this and could avoid paying capital gains on the property getting a tax exemption when selling the house to someone else.

"This is primarily a measure to correct a market in Toronto and Vancouver, these conditions are not prevalent in our market. Our concern is they are trying to use a broad  intervention in a market place to fix a problem and it may impact other markets that aren't seeing the issue," explained Reynar. 

Another change coming down the pipe is people interested in buying homes must now go through a mortgage 'stress test'.

"I think the government hopes the measure will ensure home buyers can realistically be able to pay their mortgages, should interest rates rise. I think the point here is the reminder about the Canadian housing market, that all housing markets are local... there's no national housing market."

Reynar added these new changes won't stop people wanting to buy houses, but it may change the parameters for buyers.

"I don't think it's going to have a huge impact, I don't think it's going to be a barrier to entry for buyers in our market place, but it certainly may effect the type of property that a buyer will buy."

These changes will begin on October 17th.