blog - news - updates 

Not Enough Growth In Inventory Numbers means Spring Market Sales Slow

Posted on Jun 01, 2023



May 1 2023 VREB Statistics


A total of 637 properties sold in the Victoria Real Estate Board region this April, 22.7 per cent fewer than the 824 properties sold in April 2022 but an 8 per cent increase from March 2023. Sales of condominiums were down 21.8 per cent from April 2022 with 205 units sold. Sales of single family homes decreased 19.4 per ce...

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Ban on Foreign Buying in Canada

Posted on Feb 07, 2023




For a period of two years starting January 1, 2023, non-Canadians are banned from purchasing homes in Canada under the definition of “residential property” indicated in the legislation and associated regulations that the federal government published on December 21, 2022.

Although further technical interpretations of the regulations are still pending...

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Metchosin's Beautiful Devonian Park

Posted on Jul 11, 2022



The luxury of living in the Westshore area of Victoria BC is the amount of natural habitat and outdoor parks contained in this diverse area. From lakes to parkland there is always a place to adventure into and you'll either land on a pure sand or cobble stone beaches. Welcome to Metchosin! Enjoy a 15 minute Gentle walk on clear trails through mixed...

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Victoria’s hot housing market levels off, supply still important for long-term attainability

Posted on Jul 11, 2022


July 4, 2022


A total of 612 properties sold in the Victoria Real Estate Board region this June, 35 per cent fewer than the 942 properties sold in June 2021 and a 19.6 per cent decrease from May 2022. Sales of condominiums were down 40.2 per cent from June 2021 with 202 units sold. Sales of single family homes decreased 31.4 per cent from June 2021 w...

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Victoria still experiencing low inventory and high demand 

Posted on Apr 11, 2022




A total of 833 properties sold in the Victoria Real Estate Board region this March, 29 per cent fewer than the 1,173 properties sold in March 2021 but a 16 per cent increase from February 2022. Sales of condominiums were down 26 per cent from March 2021 with 279 units sold. Sales of single family homes decreased 28.2 per cent from March 2021 with 4...

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Bank of Canada Raises Mortgage Rates

Posted on Mar 06, 2022


On March 2 2022,  the Bank of Canada increased its Overnight Lending Rate by 25 basis points, the first increase we’ve seen since the start of the pandemic.

The Central Bank had previously slashed the trend-setting rate by 150 basis points to support the economy, when the pandemic first started, bringing rates d...

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