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All Blog Entries by Ron Neal

Found 353 blog entries published by Ron Neal.

Waterfront Architectural Beauty


Waterfront architectural beauty on the Gorge waterway.  

Boasting approximately 102 feet of waterfront on a generous (more than a ten thousand square foot lot) and set out from the road for the absolute best possible panoramic views while offering complete privacy.  

Architect Pamela Charlesworth created this open floor plan with a large bright kitchen featuring granite countertops, stainless steel appliances, and loads of countertop room to create delicious meals in all while being open to the rest of the home.  

Sit at the bar top or enjoy your dinner beside the almost floor to ceiling windows that surround the entire level.  

The family room offers a cozy fireplace with a high-efficiency wood

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Canadian employment fell further in April by 2 million jobs (-11%, m/m), bringing cumulative losses to 3 million since February. The unemployment rate rose by 5.3 percentage points from 7.8% to 13%, as the impact from the closure of non-essential businesses and travel restrictions were not fully reflected in last month's job report. The last recession to come close to this was 1981/82 when the peak unemployment rate was 13.1%. The unemployment rate would have been 17.8% in April if adjusted to include those wanting to work (and had worked recently), but were unable to because of the pandemic. 

Job losses continued to spread across the country, with the largest declines in Ontario (-690k), Quebec (-560k), BC (-264k) and Alberta (-240k). The

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As we all pull together, adapting, taking extra necessary steps to keep each other safe, having successfully flattened the curve, we are seeing an emerging “new normal” with our personal and professional lives. Although deemed an essential service, the Pandemic certainly impacted the real estate industry and the “spring market” here in Victoria.

The Victoria Real Estate Board experienced an expected drop in new firm sales reported for April 2020 to the tune of 58.8% compared to the same month last year with 287 total sales. Condo sales were down 64% with 73 sales in the same year over year comparison and single-family homes were down 55.8%. These numbers exceeded our prediction of as much as 70% or more decline as we all worked together to keep

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While Vancouver Island residents came together to prioritize health and safety, “The Spring Market” experienced the expected impacts of social distancing and stay-at-home measures. Single-family home sales were down 54.1% compared to April last year with 189 properties sold and down 43.2% from March 2020. Condo sales were down 82% while townhomes were down 69%.

The number of single-family home listings available on the market dropped 9% down to 1,173 but inventory on the condo market was up 33% compared to April 2019. Townhome units available decreased 19% down to 160 listings at the end of April 2020.

Vancouver Island (minus Victoria) board-wide benchmark prices for single-family homes were down 3% to $523,700 in April 2020 year over year. Condo

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Economics Nowcast

BC Monthly Real GDP Estimate for February 2020 & Flash Estimate for March 2020 (Updated: April 30, 2020)

April 22-1  

The BCREA Nowcast estimate of provincial economic growth (expressed as year-over-year growth in real GDP) for February 2020 is 1.4 percent, up from 1.1 percent annual growth in January. We have also included a flash estimate of growth for March 2020 of -4.1 percent reflecting the impact of the COVID-19 pandemic. That estimate will change as the full March dataset becomes available.

Download the full report (PDF)

For more information, please contact:

Brendon Ogmundson
Chief Economist
Direct: 604.742.2796
Mobile: 604.505.6793

BCREA is the professional association for more than

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Canadian Monthly Real GDP (February) - April 30, 2020

April 22-1  

After three months of growth, Canadian real GDP was essentially flat in February as disruptions to education services and the transportation and warehousing sector stalled the economy.  Excluding those sectors, economic growth was 0.2 percent with 13 of 20 sub-sectors recording increased output. Activity in the real estate sector rose 5.9 percent in February, the largest increase since December 2017.

Statistics Canada has also made a flash estimate for March 2020 real GDP which estimates declined a staggering 9 percent on a monthly basis due to the COVID-19  pandemic and associated mitigation measures. If that estimate is accurate, first-quarter real GDP will contract by close to 10 per

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Why Rent When You Can Own?!

#6 is a bright south facing, bottom floor Garden Suite 1 bedroom unit in the well managed "Eldon Place".

Rentals, BBQ's & Pets Permitted with no age restrictions and boasts low strata fee with heat & hot water included.

Eldon Place offers many amenities such as secure off-street parking, heated indoor pool, sauna, hot tub, exercise room, billiards room, workshop & bike storage.

This building is conveniently located on a main public transit route, close to shopping, entertainment, parks & all amenities, 10 minutes to downtown Victoria, 5 minutes to Tillicum & Mayfair Malls.

Outstanding value in today's real estate market. Why rent when you can own?!

Call The Neal Estate Team today for your private

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Beautiful Sunny Agricultural Acreage & Cidery


Sunny south facing property with apple producing hobby farm.

Includes three-acre producing apple orchard with two agricultural  water licenses, existing two-bedroom street-side residence (presently decommissioned and used as an office), additional farm use buiuldings including a barn used as a non-permitted substantial residence of approximately 35 x 50 open plan plus bedroom wing and loft (needs cosmetic finishing) with farm production area below. 

Also 1,750 square foot Quonset Storage building the seller will lease back for $2,500 per month for one year.

Farm equipment included with sale. Seller willing to restore two bedroom street side building to residential use.


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1107-930 Yates St

Premier Building. Premier Value!

1bed/1bath unit with in-suite laundry located in the best neighbourhood of downtown, Harris Green. Everything you need is walking distance.

This lifestyle unit allows you to enjoy downtown while having a quiet oasis to call home. Private balcony with city and mountain views.

The ‘Manhattan’ is one of the premier residential towers of its time and offers secure underground parking (waitlist), storage unit, fitness studio, and steel and concrete construction.

Rentals and pets are welcome. Great for investment, pied-à-terre, or alternative to paying rent! Schedule your viewing today. 













Find Out More About 1107-930 Yates St

Talk to our…
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Stunning Ocean front retreat on Piers Island

Look no further and be swept away by this stunning West facing oceanfront property with quality built 4 bed 3 bath 3500 sq ft home, located on picturesque Piers Island.

The interior offers an abundance of space with a professional addition with a vaulted ceiling, heated floor, media room, and more.

Enjoy views from an amazing great room with a high ceiling, dining area, and kitchen all in one.

Additional bedrooms, office, bathroom, and living room are also on the main floor.

Upstairs offers a loft area with views as well as a master bedroom with a fireplace, a walk-in closet, and en-suite.

The half-acre lot is landscaped with natural vegetation, a large strawberry patch, and gets

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