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Times Colonist Covers Low Inventory and High Demand in Victoria Real Estate.

In an excerpt from an April 4th written by Andrew A. Duffy at the Times Colonist: There were 929 properties sold in March, a 17 per cent drop from the 1,121 sold last March, although that sales figure was still a 37 per cent improvement from the 675 sold in February this year...there are 1,600 new condominium units expected to be out of the ground in the next 18 months, demand and pre-sales should snap them up quickly. Read the full article in the Times Colonist. Meanwhile, if you want to get a head start on one of those upcoming pre-sales, call me to learn more. I may not be able to give you all the details now, but I'll keep you advised as things develop! Call 250.661.4484
Recent posts

Seven Compelling Reasons to Live in a Condo

Living in a condominium is all about lifestyle. It’s a lifestyle that gives you more freedoms than a single dwelling, and it’s a lifestyle you can enjoy at any age. Here are seven to consider before you buy your home: You Live in a Great Location Condos get built in popular areas, and the Shire is no exception. Entertainment, restaurants, and shopping are all close by and the downtown core is minutes away. You Enjoy the Building Amenities The Shire provides plenty of built-in amenities for your enjoyment and peace of mind. The building has secure underground parking, visitor parking for your guests, certified electric car power stations, secure storage lockers, and bike storage at the parking level. You Have Peace of Mind and Security You don’t have to worry about installing alarm systems or video cameras because a two-key system – one for the front door and one for your unit – makes the possibility of robbery slim to none. Your neighbours are a kind of built in block watch

Red Herrings and the Foreign Buyer Tax

Politicians love to divert public attention from the real problems facing our society – especially ones that they had a hand in creating. 'Red Herrings' are always abundant in our BC rivers, and they are just as abundant in legislature. Case in point: The BC Government's recent implementation of the 15 % Foreign Buyer Tax. In a Saanich News column, Andrew Weaver, Oak Bay MLA, alludes to the true genesis of our housing crisis: “Frustration, anger, and outrage about housing in BC needs to land squarely with the BC Government for actively neglecting this issue until it became a crisis.” The founding chairman of the Asia Pacific Foundation of Canada, John Bruk, puts it in perspective: “The primary responsibility for curbing this crisis lies with the provincial governments and municipalities that have taken a wait-and-see attitude toward the problem. When a similar problem arose in Singapore, its government introduced effective regulations in a bid to maintain affordable ho

Early prediction for 2017 Real Estate in Victoria B.C.

As you know, I don’t usually do my prediction until January, but the market has moved so quickly beyond my predictions for 2015 and 2016, both of which were on the mark. I realize that what is now going on in the Victoria real estate market is not only unique, but is going to shock everyone. If you are looking to buy into the Victoria market—or elsewhere on Vancouver Island—the time to act is now. Although the prices on Vancouver Island have been strong for 2016, we have not even come close to a point where prices will level out. Almost all of the projects and developments we currently see coming out of the ground are selling out well before the roofs are on; what we need to understand is what the timeline was for these projects to become available. Everything you see coming out of the ground today is a result of land acquisitions of at least three years to five years ago, when land was much cheaper; then, the rezoning process took at least one to two years to get to the point