Now, many potential buyers are comfortable with a 20 or even 30-minute commute. home in 2019 at $720,000 – a rise of 0.9 per cent over 2018’s figure. Partner sites The industry has glommed on to... 114. Homes in this neighbourhood are typically on large lots and many sit high up, offering great water and city views, with some even offering views of the Olympic Mountains. By the end of 2016, the benchmark price for single-family homes in Greater Victoria had grown by almost 25%. Updated: Best regional VIC areas for property investment 2020 . And we love that this caliber of information is available to consumers without them having to dig too deep into confusing government sites!Now, Victoria’s home prices are predicted to cool over the next two years, according to the Canada Mortgage and Housing Corporation (CMHC). Hope everyone is enjoying the heat! 2 neighbourhood in this year’s ranking is a short 10 minutes from downtown.Seeing as we’re now in 2020, some of this information has shifted but Victoria being the resilient market that it is, much of this information is still accurate and relevant!For instance, the Estevan neighbourhood is sought-after by families because the schools are highly rated, plus the little village within helps create a small town feel in the big city community. In my April Newsletter I review what we know to date and outline the factors I will be watching that may affect the market. Read “Is it time to buy a home, or should I continue renting?” This year, the number one neighbourhood is 40 kilometres south of the city centre, in the region of Sooke. “While COVID-19 lockdowns slowed … For more details read our Colleen wants to sell her trailer but is worried...For many, that ideal location may no longer be in the City of Victoria. When it comes to the prospect of a second wave of COVID-19, 56% of Canadians who are feeling confident in Canada’s real estate market are still likely to buy or sell.Canadian Real Estate: More Buyer Opportunity in the Calgary Real Estate MarketThe South Victoria areas such as Fairfield, Rockland, Gonzales, James and Downtown are expected to be the hottest neighborhoods in 2020 due to high demand. August 4, 2020. According to the While the COVID-19 pandemic had a strong impact on home sales in April and May, the Some of the top neighbourhoods in Victoria for sales include Saanich, Langford, Oak Bay and Sidney. Demand for condos continues to rise as many first-time home buyers can afford this property type.“While COVID-19 lockdowns slowed Canada’s housing market at the start of a typically busy spring market, activity bounced back by early summer in many regions, including Vancouver and Toronto,” says Elton Ash, Regional Executive Vice President, RE/MAX of Western Canada. Victoria real estate and properties in Victoria BC present many of the very best homes and properties on the Vancouver Island MLS. And while our ranking doesn’t see any Oak Bay communities until No. The big draws for all Esquimalt communities are the close proximity to Victoria’s downtown core, easy access to the waterfront, and the overall housing prices. What pushed this neighbourhood to the top of this year’s list is the average price of a home in Sooke River: It’s is more than 35% cheaper than surrounding communities and the Greater Victoria area. September 1, 2020 A total of 979 properties sold in the Victoria Real Estate Board region this August, 48.1 per cent more than the 661 properties sold in August 2019 and exactly the same total as the previous month of July 2020. The agency is forecasting the average Greater Victoria MLS home sale price to be between $693,900 and $703,300 this year (up from 2017’s $652,928). U.K. mortgage approvals rose for a second month in July after Chancellor of the Exchequer Rishi Sunak announced a tax holiday to kickstart the coronavirus-battered housing market.Lenders signed 66,281 home-loan agreements, more than forecast and up from 39,902 in June, the Bank of England said Tuesday. Based on my methodology of projecting sector-specific BC employment on to the Victoria labour... In its quarterly outlook, the BCREA predicted that residential resales on Victoria’s MLS for the whole of 2018 will total 7,650 units.
Real estate is full of numbers, and as more of them are automatically generated daily, weekly, monthly, or yearly, it’s tempting to hook up to the firehose of information. Look at how long you expect to live in...MoneySense is a journalistic website with freelance contributors who help produce our content. “The situation created by the introduction of the mortgage stress test this year, as well as continually increasing interest rates, means more Canadians will be priced out of the market.
First-time buyers and move-up buyers drove demand in 2019.“The drop in sales in key markets across British Columbia can be partially attributed to Canadians’ increasing difficulty in getting an affordable mortgage in the region,” says Elton Ash, Regional Executive Vice President, RE/MAX of Western Canada. The industry has glommed on to...It’s a week past labour day, and normally that means the start of the fall market in Victoria that brings the last surge of new listings before activity dies down into the winter. Now in July we’ve recorded the highest sales ever for that month.
Housing markets across the country have stabilized in 2018, after the unprecedented increases in average sales price that many markets experienced in 2017.
Detached on a tear while condos disappoint. RE/MAX brokers and agents are surveyed on market activity and local developments.Not only are Canadians more motivated to leave cities, but changes in work and life dynamics have also shifted their needs and wants for their homes. Some potential buyers may still balk at the hour-long drive into Victoria but, as one realtor explained, “there was a time when a greater than 10 or 15-minute commute made a neighbourhood far less desirable.” Of course, as prices rose, the length of an “acceptable” commute also rose.