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Victoria's housing market, home prices and values


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#801 Danma

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Posted 02 December 2015 - 11:17 AM

don't have to mow down trees, etc. 

 

All it means is that they were mowed down before your time. I bet the peninsula was very forested initially. I will give you the "less hilly" bit though. The terrain certainly presents challenges for developing transportation infrastructure west.



#802 jonny

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Posted 02 December 2015 - 01:28 PM

All it means is that they were mowed down before your time. I bet the peninsula was very forested initially. I will give you the "less hilly" bit though. The terrain certainly presents challenges for developing transportation infrastructure west.

 

Well, we can't control that today, now can we?



#803 LeoVictoria

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Posted 30 December 2015 - 11:37 PM

Strong uptick in the market this year.   2016 is going to be interesting.    http://househuntvict...year-in-review/

 

 

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#804 RoadRunner

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Posted 31 December 2015 - 06:06 PM

BC Assessment will be releasing 2016 property assessment details on Monday January 4.

 

http://www.bcassessm...nnouncement.pdf

 

http://www.bcassessment.ca/



#805 Sparky

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Posted 02 January 2016 - 10:39 AM

New assessed vales are posted for 2015

 

http://evaluebc.bcassessment.ca/


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#806 rjag

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Posted 02 January 2016 - 12:52 PM

New assessed vales are posted for 2015

 

http://evaluebc.bcassessment.ca/

 

Thanks for the link, my house is up $90k



#807 gumgum

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Posted 02 January 2016 - 02:24 PM

Up $97k for us.

#808 Sparky

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Posted 02 January 2016 - 02:30 PM

I live in the sticks....only up 4.3%



#809 LeoVictoria

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Posted 02 January 2016 - 02:40 PM

Up 10.3%.   About right given the market.



#810 Rob Randall

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Posted 02 January 2016 - 03:21 PM

I notice a lot of View Royal homes have dropped in value.

#811 phx

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Posted 02 January 2016 - 07:38 PM

Thanks for the link, my house is up $90k

 

 

Up $97k for us.

 

 

Are those increases realistic? 

 

Or were the old values out of whack?



#812 rjag

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Posted 02 January 2016 - 09:07 PM

Are those increases realistic? 

 

Or were the old values out of whack?

 

No, I wasn't surprised 1/2 dozen sales in the last 6 months in our hood have gone full price or very close



#813 Mike K.

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Posted 04 January 2016 - 10:05 AM

There are some good stats in this piece. Buyers from Vancouver rose sharply in 2015 while the total of non-local purchases can be attributed to as much as 20% of total sales. 2015 was also a record breaker for the gross value of transactions.

 

A sales surge and rising values mark banner year for Victoria's real-estate industry

http://victoria.citi...state-industry/

 

2015 was a fruitful year for metropolitan Victoria's real-estate industry as sales of properties surged while real-estate values, particularly for single-family-dwellings, appreciated at a solid pace.

8,281 property sales through the Multiple Listings Service (MLS) eclipsed 2014's 6,698 by over 19%, according to the Victoria Real-Estate Board (VREB). The latter, however, does not include the sale of unlisted properties such as the majority of pre-sale condos, townhomes and single-family-dwellings. Estimates for unlisted sales vary although industry insiders believe 500 transactions is a reasonable estimate. [Full article]


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#814 AllseeingEye

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Posted 04 January 2016 - 05:28 PM

A Fairfield condo I have on the market jumped over 10% which is nice especially after 3-4 tougher years in the condo sector. 



#815 nagel

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Posted 05 January 2016 - 01:59 PM

Expect to see a lot more construction in and around the southern Cowichan Valley and Sooke. If you haven't driven north of the Malahat in a while next time you pass the Bamberton turnoff you'll notice a large swath of land has been cleared in preparation for a subdivision. Around Shawnigan you'll also see quite a bit of activity.

 

To get into a home in the urban core and all the way up to North Saanich you're looking at $650k for something half decent. That's not doable for a lot of people, but in Shawnigan/Cowichan $450,000 buys you a lot more house, you have a lower cost of living and your children do not grow up around chronic street issues, crime and the rest of the joys that our urban core gives us.

That assumes you don't have to commute into Vic every day during rush hour though.  The financial and time costs of that commute shrink that 200K difference considerably.



#816 Mike K.

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Posted 05 January 2016 - 02:34 PM

That's the perception but it's not based in reality.

 

Travel time via Google maps* at 2:30PM (as I write this) is:

- downtown to Sooke centre: 53 minutes, 40.5km

- downtown to Shawnigan lake: 48 minutes, 44.9km

- downtown to Mill Bay: 40 minutes, 42.4km

- downtown to Duncan centre: 56 minutes, 61.1km

 

At 5:30 Sooke will fare far worse due to congestion along Sooke Road (a second "crawl") and congestion within Langford. Currently travel to Sooke is 3 minutes shy of travel to Duncan, a full 20 kilometers further.

 

Peace, quiet, serenity, and a dollar that stretches much, much further are all available north of the Malahat. Come this year's census I predict we'll be seeing massive growth rates north of the Malahat as residents of metro Victoria flood those communities.

 

*Yates @ Douglas to the destination


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#817 nagel

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Posted 05 January 2016 - 02:44 PM

Downtown to mill bay in 40 minutes at 5pm?  We might have another bet on our hands.  It takes 20 minutes to go from Uptown to just past McKenzie.



#818 nagel

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Posted 05 January 2016 - 02:45 PM

Also I wouldn't want to play commuter no-median lotto twice a day on the Malahat.



#819 Mike K.

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Posted 05 January 2016 - 02:48 PM

Like I said, 2:30PM as that's the time I used the map tool, but every single commuter is stuck in the same 5:30PM traffic until they divert onto the free flowing Malahat or in the case of Langford and Sooke commuters, into the traffic congestion of Langford and then on Sooke Road.

 

As the afternoon wears on I guarantee you Sooke will start climbing considerably in travel time. Mill Bay and Shawnigan will add some time but considerably less than Sooke. We shouldn't be discounting Cowichan because of traffic congestion in metro Victoria. Once you're out of Langford heading north traffic is a breeze all the way until you hit Mill Bay.


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#820 nagel

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Posted 05 January 2016 - 02:56 PM

And I suppose some people don't mind an hour in the car as long as it's not too congested, but as I said, those 10 hours a week and their costs do narrow the gap considerably.



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