Canadian Housing Starts (November 2022) - December 15, 2022

The Canadian economy contracted 8.2 percent at a quarterly annualized rate in the first quarter, including a 7.2 percent decline in March following the paralysis of economic activity brought on by the COVID-19 pandemic. Household spending fell 2.3 percent, the steepest drop ever recorded, while exports were down 3 percent and government spending fell 1 percent due to school closures and government curtailments.  Total housing investment was down 0.1 percent, with both renovation spending and ownership transfer costs falling. New home construction, however, rose 1.6 percent.

As dramatic as the first quarter decline appears, it will almost certainly be overshadowed by the

Vancouver Island Real Estate - In November 2022, a total of 746 properties were sold throughout Vancouver Island, across both the Victoria and Vancouver Island Real Estate Boards (VREB and VIREB). Of the 362 sales reported by the VIREB, 244 of these were single-family homes, 54 were condos, and 64 were townhomes. For more information on the VREB numbers, please click HERE to read our full report.

Last month, there were 1,195 active listings of single-family detached properties, compared to 1,360 in October and 301 in November 2021. The inventory of condos was 286 units, up from 64 one a year ago,

Victoria Market Overview - So far in December new listings are hitting the market at a noticeably higher rate than they were at end of last year. Meanwhile, sales are slower in the same comparison. Going back a bit further and looking at November, sales slowed significantly as did new listings and inventory in general. None of this is shocking as we move closer and closer to Christmas and the traditionally slowest of Real Estate seasons. Over and above the seasonal normalities, interest rates are having a huge impact on how consumers are viewing the future. The future, it seems, too many buyers isn’t one that they can imagine themselves taking on the financial burden of a home. And to sellers, the future isn’t yet one where they will need to sell due

Adorable Suite in Carrie Street

Welcome to 106-859 Carrie St.

A great opportunity for a student, a first-time home, or just a chance to live close to town at an affordable price rarely found in today's market.

This adorable ground level, one bed, one bath is spacious and offers a lot of natural lighting.

The unit has many upgrades and the location can’t be beaten with bus routes right at your front door and shopping very nearby.

Close to the Gorge waterway, downtown Victoria, the DND, and Gorge Vale golf club.

The layout of this condo is ideal with an oversize primary bedroom complete with a walk-in closet.

The bathroom has a shower, bath, and dual sinks with updated cabinetry and a tiled floor.

The kitchen will be a

Great Family Home in the heart of Beautiful Saanichton

This charming 3 bed 2 bath townhome is the perfect place for a young family, first-time home buyer, or in an investment property.

Kitchen and living room are on the main floor with a large south-facing deck off the livingroom this is the perfect place to watch the gorgeous evening sunsets.

3 bedrooms and a main bath on the 3rd floor make it easy to have a peaceful evening after a long day.

The primary bedroom with a walkthrough to the bathroom also has another beautiful south-facing deck and extra large closet space.

Being right in the heart of Saanichton it's only a 5-minute walk to the grocery store, pharmacy, home hardware, multiple restaurants, and coffee shops.