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.

Times Colonist…..VICTORIA – As the average selling price for single-family homes in Vancouver surpasses $2.5 million, the provincial government moved Tuesday to ensure residents with property assessed at less than half that amount are eligible for homeowner grants.

OTTAWA – Canadians looking to buy homes valued over $500,000 will soon be required to come up with larger down payments in a move the federal finance minister says is designed to ensure stability in Canada’s biggest real estate markets.

Greater Victoria single-family homeowners can expect their upcoming assessed values to increase by an average of five to 10 per cent.