Canadian Inflation (April 2023) - May 16, 2023

Canadian prices, as measured by the Consumer Price Index (CPI), rose 4.4 per cent on a year-over-year basis in April, a slight increase from the 4.3 per cent rate in March. Month over month, CPI rose 0.7 per cent, in large part due to higher gasoline prices, which jumped 6.3 per cent from last month. Shelter costs were up 4.9 per cent year over year, driven by much higher mortgage interest costs (up 28.5 per cent from last year) along with higher rents (up 6.1 per cent from April 2022). The homeowner's replacement cost, which tracks home prices, was up just 0.2 per cent year over year. Grocery prices were up 9.1 per cent year over year, down from 9.7 per cent last month. In BC, consumer

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If you're planning on moving to Victoria soon and are still deciding on a community to call home, you may be wondering where to start your search. While there are several desirable areas in the city, knowing which ones are the most affordable can be essential. The following neighbourhoods in the city of Victoria offer residents a mix of property types, unique amenities, and affordable price ranges.

Harris Green

Victoria's smallest but liveliest neighbourhood, Harris Green, offers affordable condos and apartments just outside downtown Victoria.

Harris Green is one of Victoria's oldest neighbourhoods, beginning in the 19th century as a residential area with single-family homes for downtown workers. By the turn of the century, Harris Green

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Stunning Half-Acre Waterfront Home

Welcome to 244 Leighton Lane a stunning half-acre waterfront home that offers the perfect blend of luxury, comfort & outdoor beauty.

Nestled in a lush garden, the home boasts breathtaking views of the sparkling water as well as vibrant greenery, a wrap-around deck, and loads of area for outdoor living, south facing - sun all day.

Walk down to the water where it is safe for kids and step into the water to kayak, swim, or sunbath on the nearby rocks.

The spacious architectural designed home has an open-plan interior with spectacular views from all rooms.

Granite countertops, built-in appliances & large dining area to relax or entertain.

Large laundry/pantry/mud room so all prep, laundry & shoes

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Canadian Employment (April 2023) - May 5, 2023

Canadian employment rose slightly to 20.13 million in April, up by 41,400 (0.2 per cent). The Canadian unemployment rate held steady at 5 per cent, unchanged since December. Employment gains were concentrated in wholesale and retail trade (+24,000); transportation and warehousing (+17,000); and information, culture and recreation (+16,000). Average hourly wages were up 5.2 per cent from April of last year.

Employment in BC was little changed in April, rising 0.1 per cent to 2.78 million, while declining by 0.1 per cent in Metro Vancouver to 1.564 million. The unemployment rate rose to 5 per cent in BC and to 5.4 per cent in Metro Vancouver. The rise was driven both by a rise in labour force

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Prime Location, Private Quiet Bright Updated Condo

Prime location close to Uptown, Tillicum, and Mayfair Malls!

A quiet well run clean small strata that includes gas for new fireplace in strata fee.

Lovely upgrades include kitchen cabinetry, counters, and flooring.

The open concept unfolds to a nice mountain view and a perfect entertaining space.

Access to the spacious private balcony from the large living room with architectural detail window surrounding fireplace and ceiling detail.

The Principal bedroom with large closets also has the same private view. The den currently being used as a 2nd bedroom is perfect for the company.

Great storage, pets and children welcome, and some rentals.

Carefree living on bus route with

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The public parks in the city of Victoria, BC, offer diverse natural beauty and recreational activities for residents and visitors alike. From the stunning vistas and rich history of Beacon Hill Park to the natural spaces in Trafalgar Park, there's something for everyone in Victoria's public spaces.

Discover what each park offers regarding activities and attractions while gaining insight into Victoria's best neighbourhoods, which are often located nearby. By exploring these green spaces in-depth, you'll better understand why they are cherished by locals and worth checking out for anyone visiting or moving to Victoria.

Cadboro-Gyro Park

Located in the beautiful District of Saanich, this playground offers an exciting and inclusive play experience

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Executive Inner Harbour Condo with Views

Introducing a stunning North-East facing corner suite, boasting views of the Inner Harbour, Fisherman's Wharf, and splendidly landscaped water gardens.

This exquisite 1634 sq. ft. suite is located in the prestigious Harbourside complex and features superior quality construction and a fantastic floor plan awaiting your renovation dream ideas!

As you enter this spacious home, you are greeted by a large den, a corner living room with a cozy gas fireplace, and an open dining room, providing ample space for comfortable living.

The sunny breakfast area off the kitchen is the perfect spot to start your day with a cup of coffee and enjoy the stunning views.

Down the hall, you have a full 3-piece bath,

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A Spacious and Well-maintained Home

Welcome to 3960 Wedgpoint Terrace, a spacious and well-maintained home that spans over 5580 sqft and boasts four bedrooms and four bathrooms, plus a bonus room.   Situated on almost half an acre in the peaceful and private Wedgewood Point with mature gardens and soaring trees.    The foyer is bright and airy, leading to the elegant living room with large floor-to-ceiling windows looking out over the yard with its calming water feature and stamped concrete patio.   The spacious kitchen features an oversized island, loads of cabinetry, high-end appliances, and custom granite countertops.   This chef's dream kitchen is adjacent to the family room, with access to a large covered deck…

 

At the end of 2023, we predicted “close to 7,000 transactions” in 2024 in the Victoria Real Estate Board area. Re-evaluating now at the close of the first quarter of 2024 its looking like we came in about 7% under that projection. Basically, the first few months are not going gangbusters, although Q1 was about 6% above 2023. That being said, the game could change as soon as June 5th, with the next Bank of Canada announcement widely thought to be the possible first rate drop after 6 consecutive holds.

As of April 15th, well into what we would regularly call “The Spring Market”, sales are still a bit sluggish at 18.8 per day compared to 21.2 per day for the month of April in 2023. On the other hand new listings are coming at a smoking clip, with

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Canadian Retail Sales (February 2023) - April 21, 2023

Canadian seasonally adjusted retail sales fell 0.2 per cent in February to $66.3 billion. Sales fell in 4 of 9 subsectors, but the decrease was led by lower sales at gasoline stations and fuel vendors (-5.0 per cent) and general merchandise retailers (-1.6 per cent). Core retail sales, which strips out gasoline and motor vehicle and parts dealers, rose 0.1 per cent. In volume terms, sales fell 0.7 per cent in January. 

In BC, seasonally adjusted sales fell 3.3 per cent in February. Compared to the same month last year, retail sales were down 0.3 per cent in the province. In the Greater Vancouver region, sales were down 4.4 per cent month-over-month and 2.4 per cent year-over-year. 

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