1094 replies to this topic

[Spy Black]

I see a big difference between Langford and its large (non-political) RCMP detachment and Victoria with the somewhat politically hamstrung VicPD.

 

With the RCMP as enforcers and Stu at the political helm, Langford is certainly moving in a very different direction from Victoria in terms of tolerance of crime, and intentional disregard for existing laws and by-laws.

Edited by Spy Black, 21 June 2020 - 06:36 AM.

[Mike K.]

Someone better tell the developers.

Langford built over 2,000 rental apartments between 2017 and 2019. They’re building another 1,000 as we speak. And that doesn’t include condos, townhomes, or single family dwellings.

And that’s for a population of less than half the population of the City of Victoria.

[Mike K.]

Sure, Langford is growing quickly. More rapidly than the core. But that does not equate to people fleeing the core, as those projections clearly show.

Those 2018 projections for a 2020 reality don’t jive. The world changed in March of this year and the City of Victoria needs to get its act together, and do it fast while it can still revive the momentum it enjoyed post-2008.

I know Victoria Watcher is snickering at all of this, but he’s not taking into account what’s happening to the downtown condo market at the moment. Inventory is stuck. Meanwhile a condo project that launched in Langford just ahead of the COVID-19 lockdowns has quietly and without any fanfare sold through 50% of its initial sales release.

[Mike K.]

Uptown still works as uptown if Langford is the new downtown

Wouldn’t that make it midtown?

Uptown was once the Hudson District, before it changed its name as Saanich’s Uptown got going. Having it there in Saanich, when downtown Langford is the proverbial “uptown” geographically speaking, makes no sense.

[Greg]

Langford built over 2,000 rental apartments between 2017 and 2019. They’re building another 1,000 as we speak. And that doesn’t include condos, townhomes, or single family dwellings.

And that’s for a population of less than half the population of the City of Victoria.

 

Rapid growth in Langford does not mean people are fleeing Victoria. Let me know when Victoria population begins to decline.

[Love the rock]

I’m not sure if people are fleeing. I personally know people who have sold homes and moved to get away from the downtown area (Beacon Hill , Quadra ,James Bay ) .
They moved to Sidney ,Saanich , Sooke . I also know of two households who rented that decided they had enough.

One after finding a dead body on her way to work . Half of the people who moved were around 30 . If I know of five households who felt they needed to move how many people are leaving or considering it . Ironically some commute to the downtown area for work or will when they are not working from home .

[On the Level]

Rapid growth in Langford does not mean people are fleeing Victoria. Let me know when Victoria population begins to decline.

There are a couple of issues with Victoria;

 

1) The development we are seeing being built today was planned years ago.  It's highly unlikely they would be economically feasible with the low income housing mandate.  It is less likely that many would get approval to build.  What has been set in motion these past few years won't really be seen for a few years yet, and it won't be pretty.

 

2) I would have entertained the idea of buying a new condo on the water a few years ago but not today.  Who want to pay a premium in a declining neighbourhood?  It's bad now, but what's it going to be like in a few years after further accelerated decline?

 

I highly doubt that population growth numbers tabled in 2018 would be accurate if redone today.  I am not saying that everyone is *fleeing* Victoria as there is a whole new population moving into free hotel rooms.

[Mike K.]

Rapid growth in Langford does not mean people are fleeing Victoria. Let me know when Victoria population begins to decline.

It’s not about population decline at all, it’s about the make-up of the population.

[GaryOak]

Older people are moving out to a quiet place to raise a family, and young people ate moving in so they are close to clubs, bars to socialise with friends. Downtown is where most of what little nightlife we have is located, and you shouldn't be driving to bars and clubs in the first place.

[On the Level]

Older people are moving out to a quiet place to raise a family, and young people ate moving in so they are close to clubs, bars to socialise with friends. Downtown is where most of what little nightlife we have is located, and you shouldn't be driving to bars and clubs in the first place.

 

Most young people out clubbing aren't thinking about dropping $1M on a condo, so you are left with whatever remaining rental stock is in place, then after 4 or 5 years, you're one of those old people looking for a quiet place to raise a family.

 

The CoV has always had a healthy populous of families.  Without it, we could actually see a decline.  We already have potential layoffs in SD61 as they are now padding their number with foreign students all while SD62 still can't hire teachers fast enough.  Where downtown businesses fail, where will those families go?  Probably somewhere cheaper that has more economic opportunity.

[Mike K.]

Where downtown businesses fail, where will those families go?  Probably somewhere cheaper that has more economic opportunity.

 

It's the opposite now, believe it or not. People are looking to Saanich, Esquimalt and Victoria for bargains, not the West Shore.

[Mike K.]

Funny story. I ran into a fellow last night at the ol’ Costco who used to live in my building.

Turns out we both left our brand new high rise digs at roughly the same time in 2018, and now live a few streets away from each other at the end of the proverbial world, as far as Greater Victoria is concerned.

[G-Man]

So we should see housing prices crash downtown soon if this is the case.

[Mike K.]

They won't crash, but changes to demand may soften that market or preclude it from seeing the levels of appreciation is saw between 2000 and 2019.

 

Overall, though, the downtown and periphery condo market is the most desirable in the CRD and will continue to be so unless things dramatically change.

[spanky123]

They won't crash, but changes to demand may soften that market or preclude it from seeing the levels of appreciation is saw between 2000 and 2019.

 

Overall, though, the downtown and periphery condo market is the most desirable in the CRD and will continue to be so unless things dramatically change.

 

With interest rates near zero for the next 20 years you can expect housing prices to continue upwards.

[G-Man]

How can prices stay the same if people are fleeing the core and Langford is the new downtown?

[LJ]

It's all the renters that are fleeing, the owners, being good Victoriaites refuse to budge on price and will just complain in place.

[Mike K.]

^renters are buying up West Shore real-estate?

[Nparker]

^renters are buying up West Shore real-estate?

What does this have to do with Centennial Square?

[Victoria Watcher]