A strengthening Canadian economy is projected to have a positive, cascading impact on the nation’s high-end residential real estate market this fall.
A total of 478 properties sold in the Victoria Real Estate Board region this January, 11.3 per cent fewer than the 539 properties sold in January last year. Inventory levels edged lower, with 1,516 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of January 2017, 38.6 per cent fewer than the 2,471 active listings at the end of January 2016.
The Victoria market continues to "ride the Vancouver wave" as record sales continue to be reported.
Darryl Dyck/The Canadian PressRising costs are putting Vancouver’s vaunted growth engine at risk as the city hemorrhages people employed in tech and new media for more affordable locales, including Victoria and Kelowna.
New measures aim to improve housing affordability Newly built homes priced up to $750,000 will be fully exempt from the property transfer tax when bought by Canadian citizens or permanent residents as a principal residence and lived-in for a full year.
Rob Adamson typifies many average-income-earning homeowners who have cashed out of the Lower Mainland at an early age.
Colonist, January 12, 2016……..Capital region construction watchers are bullish about the coming year, saying they expect strong demand for new housing to continue.