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2016 Significant Sales — Sotheby's International Realty Canada

January 22nd, 2017
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Americans - so you’re thinking of moving to the 51st State of America – Canada, eh!

October 24th, 2016

Of course, you will choose Victoria the capital of British Columbia where the climate is temperate, the scenery is stunning, the quality of life in general is superior and the people are polite – to name a few reasons for selecting the Garden City.

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Victoria has the mildest climate in Canada so if you are seeking winter white, you will not find it in Victoria. Generally, it ...

Why is the property market so hot in Victoria?

May 23rd, 2016
The Victoria market continues to "ride the Vancouver wave" as record sales continue to be reported.

In March the average MLS residential price in B.C. was up 20.2% year over year, to $771,620. This price is refelcting the huge sale prices that Vancouver properties are obtaining.

It is evident that supply imbalances are becoming increasingly common as residential listings are not keeping pace wi ...

Millenials Fleeing Vancouver for Cities with More Affordable Housing, Threatening City's Tech Economy

April 26th, 2016

Katia Dmitrieva, Bloomberg News 

March 14, 2016 2:08 PM ET

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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.

Kevin Oke had a Vancouver millennial’s dream job, working as lead designer at a video-game company whose cl ...

Changes to the B.C. Transfer Taxes

April 26th, 2016
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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. The measure aims to assist purchasers and help stimulate the construction of moderately priced homes. The exemption will save a purchaser up ...

Victoria’s affordable homes prompting early moves out of Lower Mainland

April 26th, 2016
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Go to the Globe and Mail homepage
Rob Adamson typifies many average-income-earning homeowners who have cashed out of the Lower Mainland at an early age.

They are part of the drive behind a spike in sales for Victoria-area housing. The Greater Victoria market has seen a an overall increase of 21.7 per cent in detached-house sales in December, 2015, compared to December, 2014, according to the Victori ...

Healthy capital housing surge expected to continue this year

April 26th, 2016
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Colonist, January 12, 2016……..Capital region construction watchers are bullish about the coming year, saying they expect strong demand for new housing to continue.

Last year saw 2,008 housing starts in Greater Victoria, marking the first time since 2010 that the number of new single-family homes, condominiums, townhouses and apartments topped 2,000.

Residential construction rebounded last ...

Homeowner grant threshold increased

April 26th, 2016

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.

Finance Minister Mike de Jong said the skyrocketing price of some B.C. homes prompted the government to boost the threshold for ...

Minimum downpayment increased for homes over $500,000

April 26th, 2016

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.

Market watchers and home sellers predict the move — in concert with other regulatory changes — will have little impact on house sales and prices that continu ...

Homes' Assessed Values Climb in Capital

April 26th, 2016

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

For certain high-demand areas of Victoria, Saanich and Oak Bay, it could be higher — as much as 10 to 12 per cent or more, said Reuben Danakody, B.C. Asseessment’s assessor for Vancouver Island. “There are a lot of desirable neighbourhoods within those areas.” ...

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