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March 2022

Found 16 blog entries for March 2022.

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May30-1  

Canadian Monthly Economic Growth (January 2022) - March 31, 2022

The Canadian economy rose 0.2% in January, up for the eighth consecutive month. Goods-producing sectors rose 0.8% while services-producing industries remained flat on Omicron-related restrictions. Canadian real GDP is roughly 0.4 per cent above its pre-pandemic, February 2020 level. Preliminary estimates suggest that output in the Canadian economy grew 0.8% in February.

With a high preliminary estimate for February, the Canadian economy appears to be on a strong growth path as it emerges from the Omicron-related slowdown. The Bank of Canada has noted that the slack in the Canadian economy is largely absorbed, which is partly why it hiked rates from 0.25% to 0.5% in early

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Top Floor Unit w/ Loft and Private Garage

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Extremely rare, well-designed, and updated TOP FLOOR bright and open 2 bed, 2 FULL bath, PLUS large loft-style Den and including a private and secure personal GARAGE w/electric door!!

These features are extremely rare in condo living! As you step into this unit you are greeted with vaulted ceilings, loads of natural sunlight with the large west-facing windows, and a well-appointed kitchen with plenty of seating on the island.

A stairway leads you to the large loft overlooking the living area, fantastic den space for an office, hobby room, or even a third bedroom!

Fireplace in the living room for cozy winter nights and access from the living room, 2nd bedroom & primary bedroom to the large

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Beautiful family home with custom finishings throughout.

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Welcome to 103 - 933 Wild Ridge Way.

This stunningly beautiful 3 bedroom, 3 bathroom townhome, has been updated with all the finest touches.

Crown molding, coffered ceilings along with trim and paint throughout.

The primary bedroom comes with his and hers' walk-in closets.

Along with the new plush carpets, laminate flooring, full fireplace re-face, and brand new dishwasher means you have nothing left to do but move into this turn-key ready home with ease.

This well-run strata complex allows for up to two furry family members.

With Willing park steps from your front door, your dogs will love walks along the oval gravel walking trail.

Just minutes from the hustle and

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Bright 2 bed, 1 bath ground floor corner unit on a quiet street in Saanich

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Bright 2 bed, 1 bath ground floor corner unit on a quiet street in Saanich near Tillicum Mall. Close to Uptown, major highways, and easy to get into town this is and great location for all areas of Victoria.

The condo has been completely renovated from top to bottom and is move-in ready with modern colors and palettes.

The well-appointed kitchen with updated cabinets and stainless-Steel appliances, this condo is spacious and great for entertaining or cozy up in the large lounge with a wood fireplace.

Large patio doors open to the deck that is having all new concrete laid in a month or so from the special levy already agreed.

Down the hall, you will find the

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AWESOME LOCATION IN THE HEART OF COOK STREET VILLAGE!

marinacres103cs Spacious and bright corner unit in the heart of Cook Street Village, with a Walk Score of 91!  No need to drive when you live here!  You will love going for a walk through the village, to Beacon Hill Park, the Ocean, and Down town, all so close by.   This spacious and bright 2 bedroom 2 bath unit is just waiting for your personal touch to make it your home. 
   
   
   

Find Out More About 302-1101 Hilda Street

Talk to our team to learn more about this AWESOME LOCATION IN THE HEART OF COOK STREET VILLAGE!

Request a Tour

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May30-1  

Canadian Housing Starts (February 2022) - March 15, 2022

Canadian housing starts rose by 18.1k (7.9%) to 247.3k units in February at a seasonally-adjusted annual rate (SAAR). Comparing year-over-year, starts were down from February of 2021 (7.4% y/y). Single-detached housing starts were largely unchanged from January at 78.1k, while multi-family and others rose 12% to 169.2k (SAAR). 

In British Columbia, starts were down 10.1% in February, falling to 35.5k units SAAR in all areas of the province. In areas in the province with 10,000 or more residents, single-detached starts rose 3.1% m/m to 7.4k units while multi-family starts declined 15.1% to 23.9k units. Starts in the province were 21.9% below the levels from February 2021. Starts

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Reviewing February’s Real Estate Market on Vancouver Island, we saw seasonal factors come into play while underlying factors continue to show tight sales and tighter inventory. Across both sales and inventory, we saw increases from January but decreases from the previous year. What that means is that the beginning of spring has brought out both sellers and buyers (as is usual), but not enough sellers to change the market conditions, and that sales are being restricted by the inventory.

Digging into the numbers, there was a total of 1281 sales on all of Vancouver Island in February 2022. 563 of those sales were in the Vancouver Island board area (VIREB) and the rest were in the Victoria board area (VREB). If you are interested in the Victoria numbers

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Reviewing February, Victoria’s Real Estate Market continues to find itself in rather tight conditions. Two and a half months into the new year and it is less a question of which metric is up and which is down and more a question of which metric is down less. We are still very clearly deep in a seller's market and despite a seasonally adjusted decrease in sales and month-over-month increase in inventory we still aren’t seeing any strong indicators of short-term change. 

The 105 unit increase of listings in February from January is certainly a boon for buyers but falls short of what could have been hoped for in regards to moving us closer to a balanced market. For example, new listings are down for the month of February compared to both 2021 and

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May30-1  

Canadian Employment (February 2022) - March 11, 2022

Canadian employment rose by 337,000 (+1.8%) in February more than reversing a 200,000 decline in January driven by Omicron-related public health measures, according to Statistics Canada. The labour market is increasingly tight, with the Canadian unemployment rate declining to 5.5%, a level lower than prior to the pandemic in February 2020 (5.7%) for the first time. The total hours worked (+3.6%) as well as the employment rate (+1.0%) also rose strongly. 

As public health measures were partly lifted by the survey reference week in February, gains were concentrated in the Accommodation and Food Services (+114,000; +12.6%), and Information, Culture and Recreation (+73,000; +9.9%)

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A Newly Built Three Level Home

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Welcome to 3500 Myles Mansell Road, a newly built three-level home in the Westshore only minutes to town centre.  

High-end finishing throughout, the main level features engineered hardwood floors, large windows for loads of light, a cozy fireplace, and custom lighting throughout.  

Open concept living with a private patio connected to a spacious family room, dining room, and chef-inspired kitchen complete with a large island, quartz countertops, gas range, and custom cabinetry.  

Upstairs you will find three generous-sized bedrooms, the primary featuring a large walk-in closet with built-ins, another fireplace, and a spa-like ensuite with a soaker tub, dual sinks, and a walk-in shower.  

Down is an

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