Troy Hawboldt : Blog : Latest Blog Posts

New property listed in Vi Fairfield West, Victoria

Wed, 25 Feb 2026 09:12:01 GMT

I have listed a new property at 1026 Cook St in Victoria. See details here

Standalone commercial building at 1026 Cook Street, Fairfield, Victoria, BC – a prime opportunity in a vibrant, walkable neighborhood. Formerly a medical office, this freestanding property features a flexible layout suited for professional services, health-related uses, retail, personal services, or similar under C-1 Limited Commercial District zoning (PART 4.1). Ideal for community-focused businesses / owner-occupier or investment potential. Highlights: Standalone structure – no shared common areas Previous medical setup with private rooms, waiting area. High visibility on Cook Street Desirable Fairfield location: tree-lined streets, parks, schools, amenities, near Cook Street Village Convenient access to downtown, transit, and surrounding residential areas Street parking & level entry Rare chance to secure a versatile standalone property in one of Victoria’s most charming communities. Perfect for a professional practice, boutique service, or investment.

New property listed in La Bear Mountain, Langford

Tue, 13 Jan 2026 09:07:21 GMT

I have listed a new property at 1006 2000 Hannington Rd in Langford. See details here

NO GST & BELOW ASSESSED VALUE! Your Luxury One Bear Mountain Condo with stunning sunrise views awaits. This bright & airy 2-bed, 1-bath luxury concrete and steel build condo spans 894 sq. ft., offering breathtaking sunrise & mountain views. Thoughtfully designed, featuring engineered hardwood flooring, custom millwork, a cozy gas fireplace with built-in shelving, & spacious 246 sq. ft. private patio. A chef’s dream kitchen features two-tone Italian cabinetry, quartz countertops, spacious island, integrated lighting, & premium Bosch stainless steel appliances. The primary suite is a tranquil retreat featuring private access to the balcony along with access to the bathroom featuring soaker tub and dual vanity. Enjoy exclusive access to exceptional amenities, including an outdoor pool, a sky lounge, a yoga studio and fitness center, bike storage, a business center, and outdoor terraces with fire pits—offering a lifestyle of luxury only available at Bear Mountain.

Victoria BC Market Stats Update December 2025

Fri, 02 Jan 2026 22:03:24 GMT

A total of 367 properties sold in the Victoria Real Estate Board region this December, 12.8 per cent fewer than the 421 properties sold in December 2024 and 18.6 per cent fewer than in November 2025. Sales of condominiums were down 21.5 per cent from December 2024 with 106 units sold. Sales of single family homes decreased by 2.6 per cent from December 2024 with 186 sold.

There were 6,918 sales over the course of 2025, a 0.36 per cent increase from the 6,893 sales in 2024.

“2025 was another consistent year for local real estate,” said 2026 Victoria Real Estate Board Chair Fergus Kyne. “Despite global economic uncertainty, property sales in the Victoria market were steady and pricing remained relatively balanced. One of the most significant factors in 2025 was the amount of available inventory. We saw the second highest number on record of new listings enter the market. The ample inventory was good news for sellers and for the stability of our market. Buyers had more choice and time to make decisions, while sellers benefitted from clearer expectations around pricing and timelines.”

There were 2,544 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of December 2025, a decrease of 19.3 per cent compared to the previous month of November but an 11.1 per cent increase from the 2,290 active listings for sale at the end of December 2024.

The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in December 2024 was $1,316,700. The benchmark value for the same home in December 2025 decreased by 4.7 per cent to $1,255,000, down 1.7 per cent from November’s value of $1,276,700. The MLS® HPI benchmark value for a condominium in the Victoria Core area in December 2024 was $546,100 while the benchmark value for the same condominium in December 2025 increased by 0.7 per cent to $549,900, a decrease of 0.6 per cent from the November value of $533,100.

Open House. Open House on Sunday, October 5, 2025 2:00PM - 3:30PM

Sun, 05 Oct 2025 09:03:40 GMT

Please visit our Open House at 1006 2000 Hannington Rd in Langford. See details here

Open House on Sunday, October 5, 2025 2:00PM - 3:30PM

NO GST! Your Luxury One Bear Mountain Condo with stunning sunrise views awaits, located at Bear Mountain Golf Course. This bright & airy 2-bed, 1-bath luxury concrete and steel build condo spans 894 sq. ft., offering breathtaking sunrise & mountain views. Thoughtfully designed, featuring engineered hardwood flooring, custom millwork, a cozy gas fireplace with built-in shelving, & spacious 246 sq. ft. private patio. A chef’s dream kitchen features two-tone Italian cabinetry, quartz countertops, spacious island, integrated lighting, & premium Bosch stainless steel appliances. The primary suite is a tranquil retreat featuring private access to the balcony along with access to the bathroom featuring soaker tub and dual vanity. Enjoy exclusive access to exceptional amenities, including an outdoor pool, a sky lounge, a yoga studio and fitness center, bike storage, a business center, and outdoor terraces with fire pits—offering a lifestyle of luxury only available at Bear Mountain.

New property listed in Vi Downtown, Victoria

Tue, 23 Sep 2025 09:05:39 GMT

I have listed a new property at 411 595 Pandora Ave in Victoria. See details here

Welcome to 411-595 Pandora The Abacus in Victoria’s historic Old Town, superb offering with desirable private terrace. Look no further, this Condo checks all your boxes; like-new, sophisticated and prime location in the Heart of Downtown Victoria. Modern timeless design, 9’ceilings, engineered floors, granite counters, Bosch appliances, new fridge, gas cook top and so much more. Fabulous large bedroom features access to the terrace via a sliding door and double closets. This residence has in-suite laundry, additional storage, bike room, lounge, gym and secured parking. Location location- this is Victoria’s brewery district-also neighboring Market Square, Fan-Tan Alley, China Town, Lower Johnson, Inner Harbor for easy flights, Legislature, Victoria’s restaurants, night-life, too many details to list. This is a turn-key condo and can be rented. Pets allowed too. So much growth and change happening around here, amazing investment and lifestyle opportunity.

Open House. Open House on Sunday, September 21, 2025 2:00PM - 3:00PM

Sat, 20 Sep 2025 09:05:30 GMT

Please visit our Open House at 1006 2000 Hannington Rd in Langford. See details here

Open House on Sunday, September 21, 2025 2:00PM - 3:00PM

New property listed in La Bear Mountain, Langford

Thu, 18 Sep 2025 09:04:22 GMT

I have listed a new property at 1006 2000 Hannington Rd in Langford. See details here

Open House. Open House on Sunday, September 7, 2025 2:00PM - 3:30PM

Sat, 06 Sep 2025 09:04:47 GMT

Please visit our Open House at 1006 2000 Hannington Rd in Langford. See details here

Open House on Sunday, September 7, 2025 2:00PM - 3:30PM

Your Luxury One Bear Mountain Condo with stunning sunrise views awaits, located at Bear Mountain Golf Course. This bright & airy 2-bed, 1-bath luxury concrete and steel build condo spans 894 sq. ft., offering breathtaking sunrise & mountain views. Thoughtfully designed, featuring engineered hardwood flooring, custom millwork, a cozy gas fireplace with built-in shelving, & spacious 246 sq. ft. private patio. A chef’s dream kitchen features two-tone Italian cabinetry, quartz countertops, spacious island, integrated lighting, & premium Bosch stainless steel appliances. The primary suite is a tranquil retreat featuring private access to the balcony along with access to the bathroom featuring soaker tub and dual vanity. Enjoy exclusive access to exceptional amenities, including an outdoor pool, a sky lounge, a yoga studio and fitness center, bike storage, a business center, and outdoor terraces with fire pits—offering a lifestyle of luxury only available at Bear Mountain. BONUS: No GST.

Open House. Open House on Sunday, August 31, 2025 2:00PM - 3:30PM

Sat, 30 Aug 2025 09:04:33 GMT

Please visit our Open House at 1006 2000 Hannington Rd in Langford. See details here

Open House on Sunday, August 31, 2025 2:00PM - 3:30PM

Open House. Open House on Sunday, August 24, 2025 1:00PM - 3:00PM

Fri, 22 Aug 2025 09:04:19 GMT

Please visit our Open House at 1006 2000 Hannington Rd in Langford. See details here

Open House on Sunday, August 24, 2025 1:00PM - 3:00PM

Open House. Open House on Sunday, August 10, 2025 2:00PM - 3:30PM

Sun, 10 Aug 2025 09:03:44 GMT

Please visit our Open House at 1068 Clarke Rd in Central Saanich. See details here

Open House on Sunday, August 10, 2025 2:00PM - 3:30PM

Welcome to your dream home at 1068 Clarke Rd, Brentwood Bay, BC! This stunning 3-bedroom, 2-bathroom half duplex offers the perfect blend of modern comfort and coastal charm. Step inside to discover a bright, open-concept living space with sleek finishes, a gourmet kitchen, and a cozy living area that flows seamlessly to a private, landscaped backyard—ideal for relaxing or entertaining. Nestled in the heart of Brentwood Bay, this home is just minutes from local shops, delightful dining options, and top-rated schools, making it perfect for families or professionals. Enjoy easy access to nearby amenities, including the vibrant Brentwood Village, with its cafes, boutiques, and grocery stores, all while soaking in the serene beauty of Vancouver Island living. Don’t miss this rare opportunity to own a stylish, move-in-ready home in a sought-after community!

Open House. Open House on Saturday, July 26, 2025 1:00PM - 3:00PM

Wed, 23 Jul 2025 09:03:20 GMT

Please visit our Open House at 206 110 Presley Pl in View Royal. See details here

Open House on Saturday, July 26, 2025 1:00PM - 3:00PM

Check out this Charming south facing 1-Bed 1 Bath Condo at Thetis Lakeside – Steps from Thetis Lake and Nature! Discover modern living in this stylish 1-bedroom, 1-bath condo at Thetis Lakeside, 206-110 Presley Pl. View Royal, BC. Boasting a private ground-floor entrance, this pet-friendly unit opens to a dedicated dog area just steps from your door and direct access to the main parking lot. Kitchen highlights include Edgewood Modena Bluff cabinets, Carrara Grey quartz counter tops. Just steps from Thetis Lake Regional Park, enjoy 40+ km of trails, a swimming beach, and paddle-craft launch sites. Nearby amenities include Millstream Village for shopping, dining, and a new coffee shop opening soon on Presley Pl. With secure underground parking, an extra large storage locker, right across the hallway & a community playground, this condo offers the perfect blend of urban convenience and lakeside serenity. Ideal for outdoor enthusiasts or first-time buyers! Contact us to schedule a viewing.

Open House. Open House on Sunday, July 27, 2025 1:00PM - 3:00PM

Wed, 23 Jul 2025 09:03:20 GMT

Please visit our Open House at 206 110 Presley Pl in View Royal. See details here

Open House on Sunday, July 27, 2025 1:00PM - 3:00PM

New property listed in VR Six Mile, View Royal

Tue, 22 Jul 2025 09:03:59 GMT

I have listed a new property at 206 110 Presley Pl in View Royal. See details here

Check out this Charming south facing 1-Bed 1 Bath Condo at Thetis Lakeside – Steps from Thetis Lake and Nature! Discover modern living in this stylish 1-bedroom, 1-bath condo at Thetis Lakeside, 206-110 Presley Pl. View Royal, BC. Boasting a private ground-floor entrance, this pet-friendly unit opens to a dedicated dog area just steps from your door and direct access to the main parking lot. Kitchen highlights include Edgewood Modena Bluff cabinets, Carrara Grey quartz counter tops. Just steps from Thetis Lake Regional Park, enjoy 40+ km of trails, a swimming beach, and paddle-craft launch sites. Nearby amenities include Millstream Village for shopping, dining, and a new coffee shop opening soon on Presley Pl. With secure underground parking, an extra large storage locker, and a community playground, this condo offers the perfect blend of urban convenience and lakeside serenity. Ideal for outdoor enthusiasts or first-time buyers! Contact us to schedule a viewing.

Open House. Open House on Saturday, July 19, 2025 2:00PM - 4:00PM

Sat, 19 Jul 2025 09:03:24 GMT

Please visit our Open House at 1068 Clarke Rd in Central Saanich. See details here

Open House on Saturday, July 19, 2025 2:00PM - 4:00PM

Open House. Open House on Sunday, July 20, 2025 10:00AM - 12:00PM

Sat, 19 Jul 2025 09:03:24 GMT

Please visit our Open House at 1068 Clarke Rd in Central Saanich. See details here

Open House on Sunday, July 20, 2025 10:00AM - 12:00PM

New property listed in CS Brentwood Bay, Central Saanich

Fri, 11 Jul 2025 09:03:39 GMT

I have listed a new property at 1068 Clarke Rd in Central Saanich. See details here

Open House. Open House on Sunday, July 13, 2025 2:00PM - 4:00PM

Fri, 11 Jul 2025 09:03:39 GMT

Please visit our Open House at 1068 Clarke Rd in Central Saanich. See details here

Open House on Sunday, July 13, 2025 2:00PM - 4:00PM

New property listed in ML Shawnigan, Malahat & Area

Fri, 27 Jun 2025 09:03:47 GMT

I have listed a new property at 40106 700 Shawnigan Lake Rd in Shawnigan Lake. See details here

700 Shawnigan Lake Road: Where Your Dreams Can Become A Reality. In the heart of Vancouver Island, nestled among rolling hills and whispering pines, lies the Malahat Industrial Center—a canvas where ambition meets opportunity. A perfect property with flexible zoning and central island location with excellent access to both Victoria and up island via the Trans-Canada Highway. ZONING I-1A Light Industrial allows for different enterprises. This newly built warehouse is 2100 sq ft with a mezzanine area upstairs. Interesting layout with options for designing workspaces. Property is ready for immediate possession. Use as a holding property and lease or create your own livelihood. Come check out of the area and see if this fits your needs.

Open House. Open House on Sunday, June 8, 2025 1:00PM - 2:30PM

Thu, 05 Jun 2025 09:03:13 GMT

Please visit our Open House at 1006 2000 Hannington Rd in Langford. See details here

Open House on Sunday, June 8, 2025 1:00PM - 2:30PM

Your Luxury One Bear Mountain Condo awaits, located on the iconic Bear Mountain Golf Course. This bright & airy 2-bed, 1-bath luxury concrete and steel build condo spans 894 sq. ft., offering breathtaking sunrise & mountain views. Thoughtfully designed, featuring engineered hardwood flooring, custom millwork, a cozy gas fireplace with built-in shelving, & spacious 246 sq. ft. private patio. A chef’s dream kitchen features two-tone Italian cabinetry, quartz countertops, spacious island, integrated lighting, & premium Bosch stainless steel appliances. The primary suite is a tranquil retreat featuring private access to the balcony along with access to the bathroom featuring soaker tub and dual vanity. Enjoy exclusive access to exceptional amenities, including an outdoor pool, a sky lounge, a yoga studio and fitness center, bike storage, a business center, and outdoor terraces with fire pits—offering a lifestyle of luxury only available at Bear Mountain. BONUS: No GST.

Open House. Open House on Sunday, June 1, 2025 12:00PM - 1:30PM

Sun, 01 Jun 2025 09:03:07 GMT

Please visit our Open House at 1006 2000 Hannington Rd in Langford. See details here

Open House on Sunday, June 1, 2025 12:00PM - 1:30PM

Open House. Open House on Sunday, May 25, 2025 12:00PM - 1:30PM

Wed, 21 May 2025 09:03:00 GMT

Please visit our Open House at 1006 2000 Hannington Rd in Langford. See details here

Open House on Sunday, May 25, 2025 12:00PM - 1:30PM

New property listed in La Bear Mountain, Langford

Thu, 08 May 2025 09:02:57 GMT

I have listed a new property at 1006 2000 Hannington Rd in Langford. See details here

Open House. Open House on Saturday, May 3, 2025 12:00PM - 1:30PM

Fri, 02 May 2025 09:02:59 GMT

Please visit our Open House at 2507 Foul Bay Rd in Oak Bay. See details here

Open House on Saturday, May 3, 2025 12:00PM - 1:30PM

Unlock stellar rental potential with this newly renovated 2-bedroom suite on Foul Bay Road, Oak Bay. Ideal for investors or families, this ready-to-rent and ready to move-in haven features a private entrance on a 6,000 sqft lot. Upstairs, two cozy bedrooms, a spacious sunny living room, dining room, and a balcony overlooking a large private backyard create an inviting vibe. Downstairs, a versatile 2 bedroom suite with a den doubles as an office or study space. Covered parking at the back, accessed via a private laneway is a rare offering! Steps from Oak Bay’s vibrant amenities - cafes, shops, parks—and top schools like Oak Bay High and Glenlyon Norfolk, it’s perfect for families and students. Close to UVic and downtown Victoria, this home promises strong rental appeal in a prime location. Plenty of recent updates complete this fantastic home. Snap up this investment gem!

Open House. Open House on Saturday, April 26, 2025 12:00PM - 1:30PM

Sat, 26 Apr 2025 09:03:01 GMT

Please visit our Open House at 2507 Foul Bay Rd in Oak Bay. See details here

Open House on Saturday, April 26, 2025 12:00PM - 1:30PM

New property listed in OB Henderson, Oak Bay

Sun, 20 Apr 2025 09:02:57 GMT

I have listed a new property at 2507 Foul Bay Rd in Oak Bay. See details here

Month-End Market Statistics

Tue, 04 Mar 2025 17:39:36 GMT

March 03, 2025

Please Note

Left Column: shows final counts for all property types for the month just ended
Right Column: shows final counts for all property types for the same month last year

February a steady month for Greater Victoria buyers and sellers

March 3, 2025 A total of 528 properties sold in the Victoria Real Estate Board region this February, 12.3 per cent more than the 470 properties sold in February 2024 and 25.1 per cent more than in January 2025. Sales of condominiums were up 26.3 per cent from February 2024 with 192 units sold. Sales of single family homes increased by 4.5 per cent from February 2024 with 234 sold.

"February was another stable month for local real estate," said 2025 Victoria Real Estate Board Chair Dirk VanderWal. "The combination of slowly growing inventory and slightly increased sales means that our market remains in balance from the start of the year, which creates comfortable conditions for both buyers and sellers. Nearly two years of steady prices combined with recent favourable interest rates are positive factors for our market. Thus far, 2025 has been a good year to buy and sell."

There were 2,630 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of February 2025, an increase of 9.8 per cent compared to the previous month of January and an 11.3 per cent increase from the 2,364 active listings for sale at the end of February 2024.

"In these market conditions properties need to be well presented and properly priced to be successful," adds Chair VanderWal. "We are following our typical early spring market cycle, which generally speaking peaks in late spring. Hopefully in the upcoming weeks we'll see more inventory enter the market to meet consumer demand. We will also watch what impacts any changes to global economic policies may have on our market if and when they occur. Right now, there are many factors that impact your housing decisions, and your favourite local REALTOR® is ready to help you navigate the current market."

Open House. Open House on Sunday, February 16, 2025 1:00PM - 3:00PM

Fri, 14 Feb 2025 09:01:12 GMT

Please visit our Open House at 1006 2000 Hannington Rd in Langford. See details here

Open House on Sunday, February 16, 2025 1:00PM - 3:00PM

*No GST Welcome to One Bear Mountain, nestled on the iconic Bear Mountain Golf Course. This bright & airy 2-bed, 1-bath luxury concrete and steel build condo spans 894 sq. ft., offering breathtaking sunrise & mountain views. Thoughtfully designed, featuring engineered hardwood flooring, custom millwork, a cozy gas fireplace with built-in shelving, & spacious 246 sq. ft. private patio. A chef’s dream kitchen features two-tone Italian cabinetry, quartz countertops, spacious island, integrated lighting, & premium Bosch stainless steel appliances. The primary suite is a tranquil retreat featuring private access to the balcony along with access to the bathroom featuring soaker tub and dual vanity. Enjoy exclusive access to exceptional amenities, including an outdoor pool, a sky lounge, a yoga studio and fitness center, bike storage, a business center, and outdoor terraces with fire pits—offering a lifestyle of luxury only available at Bear Mountain.

New property listed in La Bear Mountain, Langford

Tue, 04 Feb 2025 09:01:09 GMT

I have listed a new property at 117 1395 Bear Mountain Pkwy in Langford. See details here

1 bedroom studio golf course resort condo at 117-1395 Bear Mountain Pkwy - Saint Andrews West. LOW Strata Fee. Perfect for the first time home buyers. Secure parking, storage locker, covered patio & more. No GST! This ground floor condo offers peaceful resort living with easy access to various amenities. 9-foot ceilings create a spacious feel, includes a storage locker & parking. The stainless appliances are updated from original. Washer and dryer are updated as well and electric fireplace. Nice patio with room for a bistro set and BBQ. Other patios are common property use are great for get togethers! Lots of visitor parking. Close to tennis courts, fitness facility with heated pool Steps away from world class golfing. Bus route nearby & 5-minute drive to Langford & Costco, this condo offers both tranquility and accessibility. Enjoy beautiful sunsets in the evening from the unit patio in the evening in this quiet and peaceful unit. Bring your dog as strata does allow for pets.

2025 housing market kicks off with good balance of inventory and stable pricing

Mon, 03 Feb 2025 22:38:59 GMT

Released to media today:

2025 housing market kicks off with good balance of inventory and stable pricing

A total of 422 properties sold in the Victoria Real Estate Board region this January, 23.8 per cent more than the 341 properties sold in January 2024 and 0.2 per cent more than in December 2024. Sales of condominiums were up 30.4 per cent from January 2024 with 146 units sold. Sales of single family homes increased by 19.8 per cent from January 2024 with 194 sold.

“We’ve seen a strong hand off from the December market to January with a good sense of momentum building,” said 2025 Victoria Real Estate Board Chair Dirk VanderWal. “Over the course of the month, we saw an uptick in new listings, and it is the first time in ten years that over one thousand new listings were added to our inventory in a January. This is a positive sign for our market as we head into 2025.”

There were 2,395 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of January 2025, an increase of 4.6 per cent compared to the previous month of December and an 11.9 per cent increase from the 2,140 active listings for sale at the end of January 2024.

“The overall housing market in the Greater Victoria Area continues to show signs of balance,” adds Chair VanderWal. “There are strong fundamentals underpinning our market. Pricing remains stable, inventory levels are favourable when compared to recent years and interest rates continue to trend in a positive direction for consumers. Of course, there may be uncertainty in the coming months as international trade relationships are tested, so we will track if these deliberations impact the market moving forward. As always, buying or selling your home is one of the largest financial decisions you’ll make, and your favourite local REALTOR® is your best resource to help you navigate the process.”

The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in January 2024 was $1,252,200. The benchmark value for the same home in January 2025 increased by 2.8 per cent to $1,287,200, down from December’s value of $1,306,400. The MLS® HPI benchmark value for a condominium in the Victoria Core area in January 2024 was $551,900 while the benchmark value for the same condominium in January 2025 decreased by 0.7 per cent to $548,100, up from the December value of $547,800.

Open House. Open House on Saturday, February 1, 2025 12:00PM - 2:00PM open house *weather permitting

Sat, 01 Feb 2025 09:01:08 GMT

Please visit our Open House at 1006 2000 Hannington Rd in Langford. See details here

Open House on Saturday, February 1, 2025 12:00PM - 2:00PM open house *weather permitting

Open House. Open House on Sunday, January 26, 2025 2:00PM - 3:30PM

Sat, 25 Jan 2025 09:01:06 GMT

Please visit our Open House at 1006 2000 Hannington Rd in Langford. See details here

Open House on Sunday, January 26, 2025 2:00PM - 3:30PM

Open House. Open House on Sunday, January 19, 2025 2:00PM - 3:30PM

Sun, 19 Jan 2025 09:01:10 GMT

Please visit our Open House at 1006 2000 Hannington Rd in Langford. See details here

Open House on Sunday, January 19, 2025 2:00PM - 3:30PM

BC Home Flipping Tax What you need to know…

Thu, 02 Jan 2025 22:04:03 GMT

As of January 1, 2025, the BC Home Flipping Tax is now in effect. You need to know this new tax is distinct from the existing federal property flipping tax and specifically targets short-term property sales within British Columbia.

Here’s how it works:

The tax applies to income from sales of residential properties, presale contracts, or assignments owned for less than 730 days (two years). This includes properties bought before January 1, 2025, if they are sold on or after that date and owned for less than two years.

The rate is 20 per cent for sales within the first 365 days of ownership, gradually decreasing until it is eliminated at 730 days.

This tax applies to any person or entity (individual, corporation, partnership, or trust) selling property within BC, regardless of residency.

Exemptions include certain primary residences, though exemptions are subject to specific conditions and filing requirements.

The BC Government has released a new video about the tax. Check it out below.

To check out all the details on the BC Government website, click here.

For the BC Real Estate Association’s breakdown of the new tax, including a comparison with the federal flipping tax, click here.

Jan 2 Victoria Real Estate Market Update

Thu, 02 Jan 2025 20:35:17 GMT

2024 Victoria real estate market year in review

Condominiums 135 25% $547,800 Townhomes 52 33.3% $845,500

A total of 421 properties sold in the Victoria Real Estate Board region this December, 28 per cent more than the 329 properties sold in December 2023 and a 23.6 per cent decrease from November 2024. Sales of condominiums were up 25 per cent from December 2023 with 135 units sold.

Sales of single family homes increased 20.9 per cent from December 2023 with 191 sold. A grand total of 6,893 properties sold over the course of 2024, an 11 per cent increase from the 6,207 sold in 2023. “2024 was a fairly calm year for local real estate,” said 2024 Victoria Real Estate Board Chair Laurie Lidstone. “And this is what we like to see for consumers! It has been a year of stability and predictability.

Prices have been relatively level for the past two years now, which has made it easier for buyers and sellers to navigate transactions with confidence. Even though 2024 had more months with over 3,000 listings than we have had in many years, we do continue to see low inventory levels when compared to long term averages. If inventory remains low and we see an increase in demand, we could very quickly return to a market where there is upward pressure on pricing. This is why the Board will continue to advocate for gentle density development in 2025.”

There were 2,290 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of December 2024, a decrease of 19.3 per cent compared to the previous month of November but a 7.4 per cent increase from the 2,132 active listings for sale at the end of December 2023.

“The future for the market is of course impossible to predict,” added Chair Lidstone. “Recent changes that extend amortization periods for first time buyers, and updates to the property transfer tax thresholds help make homes more attainable, and hopefully help more people to enter the housing market. Consistent interest rates will also increase the ability for folks to make a move. As always, our market is subject to many influences and the purchase and sale process is complex. If you are contemplating buying or selling in 2025, call your favourite local REALTOR® who can create the best strategy for you and for your property.”

The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in December 2023 was $1,272,000. The benchmark value for the same home in December 2024 increased by 2.7 per cent to $1,306,400, up 0.3 per cent from November’s value of $1,302,900.

The MLS® HPI benchmark value for a condominium in the Victoria Core area in December 2023 was $556,500 while the benchmark value for the same condominium in December 2024 decreased by 1.6 per cent to $547,800, an increase of 0.6 per cent from the November value of $544,400.

New property listed in La Bear Mountain, Langford

Thu, 12 Dec 2024 09:01:14 GMT

I have listed a new property at 1006 2000 Hannington Rd in Langford. See details here

Welcome to One Bear Mountain, nestled on the iconic Bear Mountain Golf Course. This bright & airy 2-bed, 1-bath luxury concrete and steel build condo spans 894 sq. ft., offering breathtaking sunrise & mountain views. Thoughtfully designed, featuring engineered hardwood flooring, custom millwork, a cozy gas fireplace with built-in shelving, & spacious 246 sq. ft. private patio. A chef’s dream kitchen features two-tone Italian cabinetry, quartz countertops, spacious island, integrated lighting, & premium Bosch stainless steel appliances. The primary suite is a tranquil retreat featuring private access to the balcony along with access to the bathroom featuring soaker tub and dual vanity. Enjoy exclusive access to exceptional amenities, including an outdoor pool, a sky lounge, a yoga studio and fitness center, bike storage, a business center, and outdoor terraces with fire pits—offering a lifestyle of luxury only available at Bear Mountain. No GST

Open House. Open House on Sunday, December 15, 2024 12:00PM - 2:00PM

Thu, 12 Dec 2024 09:01:14 GMT

Please visit our Open House at 1006 2000 Hannington Rd in Langford. See details here

Open House on Sunday, December 15, 2024 12:00PM - 2:00PM

New property listed in La Langford Proper, Langford

Fri, 06 Dec 2024 09:01:10 GMT

I have listed a new property at 2928 Phipps Rd in Langford. See details here

Potential Development Opportunity - Langford T.O.A. (Transit Oriented Area) Proudly Offered at $1,150,000.00 Welcome to 2928 Phipps Rd. Located in a convenient area of Langford BC with elevated horizon views over the fully fenced yard to the west. This 2 bedroom 2 bath home features a new bathroom, new flooring, tile and modern appliances. Primary Bedroom features a walk-in closet & custom ensuite with a beautifully designed shower and double vanity. Spacious backyard with deck and pergola and nice porch on the front of the house. SEPARATE DOUBLE CAR GARAGE, RV Parking with two 30 amp services, heat pump in living room and primary bedroom, large bright kitchen and separate dining area. In the heart of Langford and close to Big Box stores & all the amenities Langford has to offer! *Buyer to consult with the municipality regarding the development potential of the subject property as it is currently in the Langford BC T.O.A & to rely on their own due diligence.

New property listed in ML Shawnigan, Malahat & Area

Thu, 28 Nov 2024 09:01:21 GMT

I have listed a new property at 40106 700 Shawnigan Lake Rd in Shawnigan Lake. See details here

New property listed in La Langford Proper, Langford

Wed, 13 Nov 2024 09:01:12 GMT

I have listed a new property at 2928 Phipps Rd in Langford. See details here

Proudly Offered at $1,300,000.00 The Province of British Columbia has amended the Local Government Act to promote higher-density, mixed-use development near transit stations, referred to as Transit Oriented Areas (TOAs). These amendments aim to encourage a shift toward public transit and foster complete communities. The legislation designates specific transit stations, including Langford Bus Exchange, with set minimum densities and building heights within defined distances. Local governments have now formalizes all TOAs near these stations by bylaw and removed minimum residential off-street parking requirements in their zoning bylaws. Bonus: fully renovated home & separate detached shop to generate rental income. *Buyer to consult with the municipality regarding the development potential of the subject property and to rely on their own due diligence. Info package available upon request.

New property listed in La Bear Mountain, Langford

Tue, 05 Nov 2024 09:01:12 GMT

I have listed a new property at 117 1395 Bear Mountain Pkwy in Langford. See details here

New property listed in VR Prior Lake, View Royal

Tue, 05 Nov 2024 09:01:12 GMT

I have listed a new property at 1923 West Park Lane in View Royal. See details here

Steps to Thetis Lake, Priced Below Assessed Value, Balance of New Home Warrantee, No GST! In an exclusive location backing onto Thetis Lake Park, “West Park at Thetis” is a brand-new community of well-appointed 3-bedroom townhomes right next to Thetis Lake Park. Inside each home you will find the unbeatable combination of quality and value that thousands of Limona clients appreciate including cozy gas fireplaces, spacious kitchens, quartz counters, master bedrooms featuring double-sink ensuite baths with heated floors, gas-fired on demand hot water, efficient Rinnai direct-vent ductless gas heat, generous garages, spacious yards, and more. Lucky residents will enjoy abundant recreation opportunities like hiking the nearby trails plus swimming & paddling at the lake. All this, just a short drive to downtown Victoria, the heart of View Royal, or the shopping & recreation in Langford.

The Proxima Condo and Townhouse Presale Project https://linktw.in/rHCQTE

Mon, 04 Nov 2024 17:59:56 GMT

The Proxima is a new residential development located at 1100-1108 Esquimalt Road. This six-storey complex offers 89 units, including junior 1-bedroom, 1-bedroom, 2-bedroom, 3-bedroom, and townhouse options. Amenities feature a state-of-the-art gym, secured underground parking with EV charging capabilities, and bicycle storage.
THE PROXIMA

Why Move to Esquimalt?

Esquimalt combines the charm of a close-knit community with the convenience of urban living. Its proximity to downtown Victoria, abundance of parks and recreational facilities, reputable schools, and ongoing residential developments like The Proxima make it an attractive place to call home.

Esquimalt, located just west of downtown Victoria, British Columbia, is a vibrant community known for its rich history, scenic waterfronts, and diverse amenities.

Things to Do in Esquimalt

Esquimalt offers a variety of attractions and activities:

Parks and Recreation: Explore Saxe Point Park for panoramic ocean views and picnic spots, or visit Macaulay Point Park, a historic site featuring old military structures and popular rock-climbing areas.
TRIPADVISOR

Esquimalt Gorge Park: Enjoy walking trails, gardens, and waterfront views at this serene park.
TRIPADVISOR

Archie Browning Sports Centre: This multi-use facility includes an ice arena, curling rink, and fitness classes, catering to various sports and recreational activities.
CHATTERBLOCK

Esquimalt Lagoon: A 2 km sandy beach and bird sanctuary, perfect for leisurely walks and wildlife observation.
VANCOUVER ISLAND BUCKET LIST

Schools in Esquimalt

Esquimalt is served by several educational institutions:

Esquimalt High School: Offers comprehensive secondary education with various programs.

Rockheights Middle School: Caters to middle school students with a focus on academic and extracurricular development.

Elementary Schools: Includes Macaulay Elementary and École Victor-Brodeur, the latter offering French immersion programs.

Sports and Entertainment

Recreation Facilities: The Esquimalt Recreation Centre provides swimming pools, fitness.

@viccitymedia @big.city.media

Month-To-Date Market Statistics

Mon, 04 Nov 2024 17:27:44 GMT

November 04, 2024

Please Note

Left Column: shows interim counts for all property types so far this month
Right Column: shows final counts for all property types for the same month last year

Spooktacular Halloween Events 2024

Thu, 31 Oct 2024 17:29:50 GMT

Community Events

Trick or Treat at Westshore Town Centre: Bring the family for a fa-boo-lous time: trick-or-treat at participating retailers and enjoy a complimentary goblet of “witches brew,” served by the Bubble Bus today. 3:30-5pm. [Info]

Treat Street in Langford: Bring your little ones to Langford Station for a family trick-or-treat experience, with free hot dogs, hot chocolate, treats, live music, photo opportunities, games, and more today. 5-8pm. [Info]

Esquimalt Halloween Firehall Spooktacular: Visit the Esquimalt Firehall for the annual family-friendly event, featuring an outdoor movie, bouncy castle, and trick-or-treating with the firefighters today. 5-9pm. [Info]

Camp Bernard's annual Halloween night event in Sooke. A community bonfire, hot dogs and hot chocolate, and a fireworks display over the lake. [info]

See more region-wide Halloween events here.

Spooky Pumpkin Walk at Pineridge Park: Bring your jack-o-lanterns out on Friday to help light the way as they head into post-Halloween retirement. [Info]

Colwood Pumpkin Patch: Sat. 12-2pm. Enjoy fun ways to dispose of your jack-o’-lanterns. Roll it down the hill, snowblower it to smithereens; fire-hose it into the bin, or crush it with heavy-duty equipment. [Free]

Fish & Chips Friday at Langford Legion 91. 4-8pm.

Open House at Camosun College Interurbanz Prospective students are encouraged to experience the energy and excitement of the campus in the school’s first full viewing tour since the pandemic. Nov. 2. 11am-3pm. [Info]

BC Real Estate Association Urges Comprehensive Review of BC Housing Taxes

Wed, 16 Oct 2024 18:34:52 GMT

Vancouver, BC – October 7, 2024. With the British Columbia election less than two weeks away, the BC Real Estate Association (BCREA) is calling for major housing tax reform aimed at increasing affordability and fairness in the province, the Association announced today.

As outlined on their housing policy resource hub launched in the lead-up to the election, BCREA noted that BC housing taxation levels are some of the highest in the world and have risen sharply since 2016. This has had a significant negative effect on the cost of housing in the province.

BCREA recommendations include:

a systematic review of the Property Transfer Tax (PTT), which was launched in 1987 as a “luxury tax” and intended to only apply to five per cent of real estate transactions, but now applies to nearly 100 per cent in the Lower Mainland and roughly 70 per cent even in the relatively more affordable areas of the province;
a review of policies related to foreign investment, including the Foreign Buyer Tax, to ensure that the province continues to attract investment from outside of Canada as a means of reaching aggressive housing targets; and
the immediate repeal of both the Speculation and Vacancy Tax (SVT) and the yet-to-be-implemented Residential Property Short-Term Holding Profit Tax (Flipping Tax), which are both duplicated at the federal level.

Trevor Koot, BCREA CEO, noted that a vital first step would be the review of the PTT, which now accounts for $1.95 billion in annual tax revenue for the province.

“The Property Transfer Tax was originally supposed to be a ‘luxury tax,’ but it’s evolved into a heavy burden for all British Columbians,” Koot said. “The PTT has far outlived its original purpose without ever facing a systematic review, and the time has come for that to change.”

While taxes are a necessary tool for funding public services, Koot added, they shouldn’t be a barrier to homeownership or add unnecessary complexity to real estate transactions. The way forward is a long, hard look at the current policies, which must be undertaken by BC’s next government to ensure fairness for British Columbians.

Sep 24, 2024

Wed, 16 Oct 2024 18:33:15 GMT

BC Real Estate Association Calls for Review of BC's Short-Term Rental Ban

Vancouver, BC – September 23, 2024. The British Columbia Real Estate Association (BCREA) is calling for significant amendments to BC's short-term rental laws to mitigate the major disruption they've caused for specific business and tourism sectors across the province, the Association announced today.

On May 1, 2024, the BC Government enacted a widespread ban on short-term rentals, with the intent of returning homes to the long-term rental market. However, as part of a new housing policy resource hub launched in the lead-up to the 2024 Provincial General Election, BCREA identified multiple groups of British Columbians negatively affected by the ban, including:

medical employees transferred to remote areas;

those receiving multi-week medical care as well as caregivers in urban areas;

film sector workers in town for weeks at a time;

those attending or employed by short-term but large events for which hotel space is inadequate (such as a Taylor Swift concert or the FIFA World Cup 2026); and

those needing short-term housing due to delays in being able to take occupancy of homes or apartments.

As part of the analysis, the Association stressed that provincial and regional economies need to be factored into policy decisions of this magnitude.

“While housing affordability is extremely important, there are additional considerations in communities across BC that have been paved over with the implementation of this policy,” said Trevor Hargreaves, BCREA Senior VP, Policy and Research. “There are numerous exemptions desperately needed to make this a workable and successful policy moving forward.”

Hargreaves added, “There is no question that some of these short-term rental units should be functioning as long-term rentals, but there are some legitimate uses for short-term rentals that are no longer permitted under the legislation.”

The Association proposed several exemptions from the ban across a wide variety of categories, including high-tourism areas and the groups listed above.

full article here:https://www.bcrea.bc.ca/advocacy/bc-real-estate-association-calls-for-review-of-bcs-short-term-rental-ban/

Month-To-Date Market Statistics

Tue, 15 Oct 2024 17:08:03 GMT

October 15, 2024

Please Note

Left Column: shows interim counts for all property types so far this month
Right Column: shows final counts for all property types for the same month last year

Oct. 7 Victoria Real Estate Market Stats

Tue, 08 Oct 2024 18:03:00 GMT

Month-To-Date Market Statistics

October 07, 2024

Please Note

Left Column: shows interim counts for all property types so far this month
Right Column: shows final counts for all property types for the same month last year

Mortgage Rate Forecast…

Tue, 08 Oct 2024 18:00:37 GMT

Highlights *article from bcrea

Canadian bond yields falling as markets expect deep rate cuts by US Federal Reserve and the Bank of Canada.
Economic growth slowed through the summer but will lower rates stimulate a second half recovery?
The Bank of Canada is on a glide path to a 2.75 per cent policy rate.

Mortgage Rate Outlook
Canadian mortgage rates continue to fall, with the Bank of Canada in the early stages of what could be deep policy rate reductions and the US Federal Reserve on the verge of beginning its own cutting cycle.

The key question for mortgage rates going forward is where the Bank of Canada is going to stop. If the destination for the overnight rate is 2.75 per cent, the midpoint of the Bank’s “neutral range,” historical data implies a five-year bond of about 3.25 per cent and a five-year mortgage rate of 4.85 per cent. However, that implies a five-year bond yield that regains its usual 50 basis point spread over the overnight lending rate, a significant increase from its current negative level.

Lingering fears of a weaker-than-expected US economy have pushed markets to expect a more aggressive cutting cycle in Canada and the United States. Consequently, Canadian bond yields have fallen to 2.75 per cent, implying that markets are currently pricing a Bank of Canada overnight rate of 2 to 2.25 per cent. While perhaps over-done, if not reversed, those expectations could drive Canadian fixed mortgage rates even lower, particularly if the economy shows signs of weakening into 2025 rather than rebounding as the Bank is currently forecasting.

Ultimately, we expect that the Bank’s rate cuts will stimulate stronger economic activity, prompting the yield curve to normalize and five-year fixed mortgage rates to settle around 4.85 per cent.

Economic Outlook
Canadian economic growth surpassed the Bank of Canada's expectations in the second quarter but was largely driven by government spending while household consumption slowed. Monthly GDP growth in June slowed, and preliminary estimates for July show further weakness. Moreover, Canadian GDP per capita continues to struggle amidst rapid population growth. Employment has continued to soften from the previous quarter, with the unemployment rate hitting a three-year high of 6.6 per cent in August, as positive job growth has not been enough to keep up with an outsized pace of population growth.

A slowing economy comes in the context of continually improving inflation, which hit 2.5 per cent last month, although price appreciation is still being largely driven by high shelter costs due to pressures in the rental market and a jump in household mortgage costs over the past year. Core measures of inflation have also fallen under 3 per cent and should continue to move lower in the coming months.

We expect the Canadian economy to eke out about 1 per cent growth in 2024 but head into 2025 with some falling interest rate-driven momentum. As such, we could see a somewhat Goldilocks-like Canadian economy in 2025 growing slightly above 2 per cent with inflation falling back to target.

Bank of Canada Outlook
Following three consecutive rate cuts by the Bank of Canada, the focus for each interest rate decision going forward has shifted from whether the Bank will lower rates to how large those rate cuts should be, with some analysts even looking for larger 50 basis points cuts in the future. While the Canadian economy is certainly under-performing, particularly on a per-capita basis, its not clear that the Bank is ready to shift from the current gradual approach implied by the Bank’s inflation forecast.

While the Bank publishes its forecasts for growth and inflation, it does not reveal the assumed path of interestrates that generate those forecasts. However, a comparison of the BCREA macromodel with the Bank of Canada’s reveals a strikingly similar response of inflation to changes in the policy rate in both models. Given a similar inflation forecast from our model to that of the Bank’s, we can get a pretty good sense of the Bank’s thinking on the path of rates over the next year. What that shows is that as long as inflation isn't deviating from expectations, and employment is not significantly weaker, we should see continued rate cuts at an orderly 25 basis points pace until the Bank reaches its neutral range between 2.25 and 3.25 per cent in 2025 with a likely destination of 2.75 per cent by the end of 2025.