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March 2023

Found 10 blog entries for March 2023.

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Canadian Inflation (February 2023) - March 21, 2023

Canadian prices, as measured by the Consumer Price Index (CPI), rose 5.2 percent on a year-over-year basis in February, a decrease from the 5.9 percent rate in January. This large drop was mostly due to base year effects, as inflation increased strongly this month last year. Grocery prices continue to rise too-quickly, up 10.6 percent from last year, the seventh consecutive month of double-digit annual price growth. Mortgage interest costs were up 23.9 percent year-over-year, the fastest pace since 1982, as Canadians renewed or initiated higher-rate mortgages. In contrast, the Homeowner's Replacement Cost, which tracks home prices, continued to slow, increasing 3.3 percent

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Schools and School Districts in Victoria

There's a multitude of reasons for moving to Victoria, British Columbia, including its wide variety of schools and universities. Most children travel short distances to attend classes because the city of Victoria has more than 100 primary and secondary schools. Some specialize in language immersion or preparation for college. Adult students can find several top-notch colleges in Victoria—including public research universities, technical schools and private career colleges—and continuing education classes at public high schools. Read on to learn the details about schools in Victoria.

Public Schools in Victoria, BC

Public School Options in Victoria, BC

Greater Victoria District 61 serves approximately 20,000 students across much of Victoria and several nearby locales, such as Oak

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A Quiet Nature Lovers Community 

Welcome to 2742 Alderbrook Place in the eclectic coastal community of Shirley BC, a quiet nature lovers community on Vancouver island just a short 20-minute drive past Sooke.

This charming property offers ocean views from the living room, kitchen, and primary bedroom and has a trail that leads you to the East end of French beach which is almost always vacant. 

Full privacy from everywhere on the 1.41 ace property with lots of room for parking and a detached two-car garage or shop. 

The main home has an open-concept vibe with vaulted ceilings, rustic wood floors a spacious kitchen, and a great room area perfect for lounging. 

In the corner, a cozy woodstove crackles as you look at the large bay windows

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Victoria Best Neighbourhoods

Set on the southeastern tip of Vancouver Island, Victoria is one of the oldest cities in the Pacific Northwest and one of the most popular for British Columbia homebuyers. The metro area's more than 350,000 residents enjoy a thriving Victoria economy, charming, unique neighbourhoods, and excellent access to the area's beautiful waterways and green spaces. Still, with a decision as significant as buying a home, deciding where exactly to put down roots can be challenging. So read on as we break down eight of the top neighbourhoods in Victoria, BC, and why they're worth a look.

Cook Street Village

Those looking to enjoy life in a quaint but bustling commercial district should check out Cook Street Village. The community straddles Cook Street from

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Vancouver Island Real Estate - In February 2023, a total of 794 properties were sold on Vancouver Island, according to the Vancouver Island Real Estate Board Area (VIREB) and the Victoria Real Estate Board Area (VREB), with VIREB reporting 334 sales and VREB reporting 460. 220 single family homes, 64 condos, and 50 townhomes were sold by VIREB. For further details on the VREB numbers, please refer to our full Victoria report by clicking HERE.

  Year/year Month/month
Single Family Dwellings -37% +33%
Condos -40% +52%
Townhomes -44% +39%

In February, the number of single-family homes listed increased year-over-year from 345 to 937, and from 861 in January. Likewise, condo apartment listings

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Victoria Market Overview - Last month we talked about increased “pre-data” activity and anecdotal evidence of both buyers and sellers returning to the market. By the end of February, the numbers caught up and reported significant increases in sales from January although not enough to rival February 2022 when the market was stronger overall. Some of this activity is simply seasonality as we head into what is traditionally the busiest time in Real Estate.

Somewhat more interesting is that inventory posted very small gains from January which created a wild swing in “months of inventory” (MOI) which is a tool for gauging if a market is a buyer or seller market. As we have said in almost every update for the last six months, the market is currently very

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3-4 Bed 3 Bath home on .23 acre for nature lovers in South Valley


Welcome to 4038 South Valley Drive, where nature meets amenities set on a .23-acre beautifully landscaped corner lot in award-winning Peers Creek of South Valley.

The lovely gardens surrounding the home are enjoyed by several covered seating areas with room to build a shop or garden suite with eligibility and an approved permit.

The main level walkout is a fabulous layout with a separate living room, gas fireplace, and generous dining room large enough for the whole family PLUS a great room and a den or 4th Bedroom!

You will love the Millwork and character Wainscotting, columns, overheight tray ceilings, and large viewing windows!

The kitchen features a large

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A large two-bedroom ground unit in a complex


Welcome to Unit 113 at 485 Island Highway stunning SOUTH FACING WATERFRONT at Waters Edge Complex.  

A large two-bedroom ground unit in a complex offering an OUTDOOR HEATED POOL, SAUNA, recreation area, and KAYAK storage this is a lifestyle to be envied.  

Wake up to the birds playing in the water or stroll down to the little private BEACH, take a walk on the WATERFRONT TRAIL, or just enjoy a morning coffee from your large sundeck overlooking the bay.

This home acts more like a townhouse with exterior entry and features a large full-size kitchen featuring and a sit-up bar with a built-in wine rack.  

The large family room area features a wall of glass leading to the massive patio to

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Bank of Canada Interest Rate Announcement -
March 8, 2023

As signalled in its previous interest rate announcement, The Bank of Canada maintained its overnight rate at 4.5 per cent this morning. In the statement accompanying the decision, the Bank noted that restrictive monetary policy is weighing on demand and it expects weak economic growth for the next couple of quarters. That weak growth should moderate wage growth in a currently tight labour market and ease competitive pressures on prices, ultimately leading to inflation reaching 3 per cent by the middle of 2023.  As for the possibility of future rate increases, the Bank stated that it will continue to assess economic developments and the impact of past interest rate increases and is prepared

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Ski-In-Ski-Out at Mt. Washington


Welcome to Unit 405 at 1280 Alpine Rd. This ski-in/ski-out suite is located slopeside in Bear Lodge at Mt. Washington's Alpine Resort. This top-floor unit boasts two bedrooms and two bathrooms, making it the perfect option for experiencing all that Mt. Washington has to offer. Its large windows not only allow for an abundance of natural light, but also offer breathtaking scenic views. The spacious kitchen is fully equipped to handle all your cooking and entertainment needs, while the propane gas fireplace keeps you warm and cozy during the cooler months. Additionally, the unit includes an in-suite washer/dryer and a generous-sized balcony. Mt. Washington has transformed into a year-round destination, offering

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