In the News

Build Canada Homes: What Mark Carney’s Housing Plan Means for Victoria

Posted on Oct 11, 2025 in In the News

By Janine Thomson - Victoria Realtor | Pemberton Holmes

Victoria, has long struggled with skyrocketing home prices, limited supply, and rising rents — challenges shared across Canada. To tackle this crisis, the Carney government has launched Build Canada Homes (BCH), a major federal housing initiative designed to make homes more affordable and incre...

Cost of Living and Housing Affordability in Victoria: A Comprehensive Comparison

Posted on Apr 01, 2025 in In the News

By Janine Thomson - Victoria Realtor | Pemberton Holmes

Victoria, British Columbia, is known for its picturesque landscapes, mild climate, and thriving arts and culture scene. However, like many desirable cities, its popularity comes with a higher cost of living. Whether you’re looking to buy a home or rent in this vibrant city, understanding the co...

The Facts on the NAR® Settlement and changes for future realtors

Posted on May 14, 2024 in In the News

The real estate landscape has been abuzz with discussions surrounding commissions, particularly since the National Association of REALTORS® (NAR) announced a settlement agreement aimed at addressing litigation concerning broker commissions on behalf of home sellers. Amidst this backdrop, brokers, agents, and consumers alike are grappling with uncer...

Bank of Canada Raises Mortgage Rates

Posted on Mar 06, 2022 in In the News

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 down to a historical low. However, with...

Sooke's First Modular Affordable Housing

Posted on Feb 20, 2022 in In the News

Nearly completed and long awaited, this beautiful complex built by NRB Modular Solutions boasts a 4 storey, 75 unit project located at 2170 Charters Road is the first example of modular methods where the homes are guilt off site.

Sooke BC modular homes project - NRB modular solutions

This project began construction last February 2021. The project is in a partnership between the M’akola Housing Society...

Property Taxes in BC

Posted on Feb 09, 2022 in In the News

In British Columbia you can expect property and home ownership taxes to be extraordinary, since housing inequality is an accute phenomenon here on the West Coast. From basic property taxes, to Property Transfer tax when you purchase a home, or GST on new builds, you can also expect additional taxes for luxury homes over $3 million, taxes for foreig...

Positive changes coming to CMHC First Time Home Buyers Program

Posted on May 05, 2021 in In the News

Starting May 3 2021, The Canadian Federal Government will be expanding the First Time Home Buyers Incentive Program to enhance eligibility in the 3 most popular cities: Vancouver, Victoria and Toronto.

What are the changes?

The maximum total qualifying annual income will now be $150,000, which increase from $120,000.

An increase total borrowing amount...

How Does the New Financial Budgets Impact Housing in BC?

Posted on May 04, 2021 in In the News

Recently the Feds and the Province of BC released their Financial Budgets.

How does this impact local market housing?

FEDERAL BUDGET

NO change to Capital Gains Tax
A national, annual 1% tax on the value of non-resident, non-Canadian owned residential real estate that is considered to be vacant or underused, effective January 1, 2022.
$4.4 billion for h...

First Nations Designates Names for New Schools in Langford

Posted on Nov 18, 2020 in In the News

As of Thursday November 5th 2020, the Sooke School Board 62 has declared that its 2 schools, elementary and middle schools, have been named, and are presently being built in the new subdivision area of Westhills, Langford. They are due to complete by September 2022.

The elementary school will be named Pexsisen, pronounced "pux-see-sing" a Lekwungen...

Realtors Warned - Temporary Suspension to BC's Open House

Posted on Nov 06, 2020 in In the News

With Covid cases on the rise here in BC, recently today, November 6, 2020, the Real Estate Council of BC (RECBC) has strongly advised real estate agents to temporarily discontinue open houses and limit face to face interactions.

In lieu, agents are allowed to continue private showings, by following the guidance from the Public Health Organization...

Luxury Living at the Customs House

Posted on Nov 02, 2020 in In the News

photo credits: customshouse.ca

Customs House is a new condo development by Cielo Properties currently under construction at 888 Government Street, in Victoria BC. The only residential Harbourfront and view in the city.
This luxurious development started in 2018 and is a full restoration of the historic Customs House building that is situated on the...

"The Wedge" 15 story Downtown Building Starts Construction

Posted on Oct 17, 2020 in In the News

Cox Developments has started construction on a 15 story wedge shaped residential building in downtown Victoria and is set to open

in 2023. This new highly anticipated $50 Million tower is located at 952 Johnsons Street & 1400 Vancouver Street.

The wedge was created as an inspiration of the natural beauty of Vancouver Island. 1-3 bedroom designs wit...

Western Speedway in Langford Sells