• Victoria
  • Sidney
  • Saanich Peninsula
    250-656-4626
In your neighbourhood...
  • Victoria
  • Sidney
  • Saanich Peninsula
    250-656-4626
In your neighbourhood...

Blog

Moving to Victoria - October Property Market Updates - Category: Victoria

Posted by Jack Barker

With more and more people moving to Victoria and Vancouver Island there is a high demand for properties, but a low inventory, and so house prices are rising.

There is currently about half as many residential listings as we would like to see for a balanced market, resulting in the aggregate price of a home in Greater Victoria increasing 27.7% year-over-year to $957,400 in the third quarter of 2021, while the aggregate price of a home in Canada increased 21.4% year-over-year to $749,800 in the third quarter of 2021.

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What First Time Buyers Should Know Before Starting Their Search - Category: Victoria

Posted by Jack Barker

Buying a house or condo for the first time is exciting, but as with anything you do for the first time, there can be a few unknown elements along the way. It can be a complex process and there is a lot to consider.

First thing is to make sure that the time is right. Do some soul searching and make sure you want to buy a home because you genuinely want a home — not because you need an investment or simply think it’s “time” to settle down.

Homes require a great deal of time, money, and energy to purchase and maintain. You want to love your home. If the timing isn’t right, you may regret the decision. If it is the right decision, then great! You can move onto the next step. 

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Sellers: Tips on Staging Your Home for Sale - Category: Victoria

Posted by Jack Barker

If you’re looking to sell your home there are two things you need to know: what does the market look like in my area, and what can I do to make my home as appealing as possible to prospective buyers.

That’s precisely what we’re going to be taking a look at in this post, with an overview of how the Victoria real estate market looks after December 2020, and some tips on how to stage your home to make it as appealing to buyers as possible!

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Record House Prices in Victoria - New Mortgage Rules Come into Effect - Category: Victoria

Posted by Jack Barker

On July 1st the Canada Mortgage and Housing Corporation (CMHC) new mortgage rules came into effect. These changes are meant to reduce the risk of taxpayers footing the bill for bad loans, as well as protecting homebuyers who would be likely to take on too much risk in an economic downturn. 

These rules include: 

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How a Home Inspection Helps You - Category: Victoria

Posted by Jack Barker

You’ll definitely want to get a professional home inspection before you buy a particular property as a qualified professional can identify issues you may not have noticed yourself.

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Local School Locations Added To REALTOR.ca - Category: Victoria

Posted by Jack Barker

New school catchment information on REALTOR.ca will roll out nationally in phases, and is already available for Victoria and Vancouver. Coverage reached 80% of school boards in Canada by September. An additional feature allowing parents to search for a property within a particular school’s catchment area will be available later in the fall.

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New BC Real Estate Speculation Tax - Category: Victoria

Posted by Jack Barker

In its recent budget announcement, the BC government declared that new legislation will be introduced for an annual real estate speculation tax. This new tax will be effective for the 2018 tax year.

The speculation tax is aimed at foreign and domestic real estate speculators in BC, and will not affect the majority of BC homeowners. Speculators own property that is not occupied by the owner or a recognized long-term rental, placing it outside of BC's long-term housing stock. The tax will also affect satellite families: Households that have high worldwide income but pay little income tax in BC.

In the first year the tax rate will be $5 per $1000 of assessed value. In 2019, the rate will be increased to $20 per $1000 of assessed value. The speculation tax will first be applied to Metro Vancouver, Fraser Valley, the Capital Regional District, the Nanaimo Regional District, Kelowna, and West Kelowna. Learn more.

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Immigration in British Columbia, Canada - Category: Victoria

Posted by Jack Barker

The BC skilled worker category was modified in January 2015 by introducing a PNP Express Entry system co-ordinating with Federal immigration programs. The most radical changes have been renewed for the business category.

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