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April 2018

Found 1 blog entry for April 2018.

As expected, government influences are impacting our Victoria and BC wide real estate market. The combination of new federal tax strategies, mortgage stress test, increased interest rates, expanded and increased foreign buyer tax and impending speculation tax is starting the push the market balance towards favouring buyers. There is widely varied market activity by price range and area with the lower end in our Victoria market still in very short supply.

Sales of all property types declined in March by 25% from the previous year with just 688 sold down from 929 in march of 2017. Condominium sales were down by 28% with just 211 sold and single family homes were down by 30% with just 337 sold this March.

The Victoria Real Estate Board reported an

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