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Victoria's housing market, home prices and values


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#6041 aastra

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Posted 27 May 2025 - 07:49 PM

No, I'm mistaken about being mistaken. I see another listing for Unit 2 at 218 Enfield Crescent.


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#6042 LJ

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Posted 27 May 2025 - 07:51 PM

OK, then I will reiterate, screw it, I'm not moving to Winnipeg in that case.


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#6043 aastra

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Posted 27 May 2025 - 07:53 PM

Don't be hasty. You might be interested in #1 at 218 Enfield Crescent.



#6044 aastra

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Posted 27 May 2025 - 07:58 PM

Yeah, it's actually three units in that building.

 

#1 = 2 bed, 2 bath (1469 square feet)
#2 = 2 bed, 2 bath (1569 square feet)
#3 = 3 bed, 2 bath (2100 square feet)



#6045 Bambam

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Posted 27 May 2025 - 09:13 PM

Sigh my hometown just gets more ridiculous re the cost of housing as time goes by. We had to go back to Nova Scotia last week to attend to some family business. We had some time before coming home so along with my cousins we hit up a few open houses in the area from Falmouth to just north on the Minas Basin.

 

So while you can drop $5.5 million on a glorified condo in Bayview, less than ten minutes from my large extended family, if I was ready to retire now I could instead pop for a mere $749,000 and have this Nova Scotia gem on 3/4 of an acre, not only with a view of the (Avon) River, but on the Avon River. I particularly like the touch of the park bench in the 'back yard' right at the river's edge.

 

For sale: 106 Avon Street, Hants Border, Nova Scotia B0P1P0 - 202509946 | REALTOR.ca

 

They didn't post any pictures for some reason but the detached garage has the man cave of all man caves on the upper level, perfect for a retired dude to set up his model trains......or contrarily, for any husband who strays into his wife's proverbial doghouse, its also configured with a bedroom, bathroom and extra wide screen TV. 



#6046 Matt R.

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Posted 27 May 2025 - 09:16 PM

Yup, it’s gone nuts out there too but relatively? They did just have a good frost last week…

We are back out there in September, love it.
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#6047 Bambam

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Posted 28 May 2025 - 09:51 AM

Yup, it’s gone nuts out there too but relatively? They did just have a good frost last week…

We are back out there in September, love it.

 

 

Prices definitely have gone up - lots of Canadians moved to NS during and after Covid driving the market up. I know several people from the island who did just that. Best deal I saw about 3 years ago was literally down the street from my cousins about 5k outside of Falmouth: fully updated and remediated 3500sf house with a triple car garage, hot tub with two huge sun decks on six acres - $485k.



#6048 Matt R.

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Posted 28 May 2025 - 10:26 AM

That’s the reason we go. So many friends moved east before and during Covid.
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#6049 Bambam

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Posted 28 May 2025 - 11:00 AM

Its very tempting for a lot of reasons. A few of my high school and UVic-era buddies and their families all made the move over the years as did a buddy from my Coast Capital days who is now in Digby. LOVES it there. Unfortunately I don't think I could talk the Mrs into making that move, lol. So more realistically we're kicking about ideas from the Mill Bay area and
"north".....



#6050 LJ

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Posted 28 May 2025 - 07:34 PM

 
 
May 27, 2025 – So here we are again: another glossy government program, another expensive plan, and another round of disappointment. According to new data from Statistics Canada, building construction investment in March 2025 dropped 0.9%, a loss of $192.2 million. Residential investment was the main culprit, down 1.8% or $277.7 million. This, despite months of headlines from the Liberal Party bragging about how they’re “solving” Canada’s housing crisis.
 
That’s right — after announcing billions in subsidies, public-private partnerships, and yet another federal Crown corporation, investment is falling. You might reasonably ask: what exactly are they accomplishing?
Residential Investment Tanks While Ottawa Spins ..........

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#6051 Citified.ca

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Posted 02 June 2025 - 03:20 PM

758-properties-sold-in-May-with-Greater-Victoria-houses-averaging-$1.3M.jpg
 
758 properties sold in May with Greater Victoria houses averaging $1.3M

https://victoria.cit...averaging-1-3m/


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#6052 Victoria Watcher

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Posted 02 June 2025 - 08:51 PM

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#6053 Tony

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Posted 02 June 2025 - 11:41 PM

An average of 7% return over 25 years would be 542%



#6054 Victoria Watcher

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Posted 03 June 2025 - 12:31 AM

An average of 7% return over 25 years would be 542%

Does your car, or machinery etc. appreciate in the same way?

Why should a home, as it gets older, become MORE valuable?

Edited by Victoria Watcher, 03 June 2025 - 12:32 AM.


#6055 Sparky

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Posted 03 June 2025 - 05:28 AM

^ Because the demand for land that the home sits on increases as the population increases, and the cost to replace the building (or build a similar one in the same area) increases with the rising cost of labour and materials. This is why the affordable housing ship has sailed.

 

The Ford Ranger that I bought 10 years ago has doubled in value because Ford quit building them .... while the demand to own one kept increasing. The Escalade ....not so much.

 

It's math.



#6056 Victoria Watcher

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Posted 03 June 2025 - 05:31 AM

If we only had more land somewhere.

The tragedy of being such a tiny country.
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#6057 lanforod

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Posted 03 June 2025 - 07:14 AM

Might want to recheck your age/numbers there Sparky. The Ranger had a pause in 2011 and returned in 2018 as a larger pickup, 10 years ago, Ford wasn't making them.

 

Anyways, if we decouple the land vs the house prices, and include the factor that 'you need a place to live', you're likely still ahead in real estate vs the market at 7% returns.



#6058 Sparky

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Posted 03 June 2025 - 07:40 AM

^ It is a 2008 Super Cab that I paid under $6K for it over 10 years ago. Not hard to get $12K for them now. I should have mentioned that it was used and not new.
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#6059 Mike K.

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Posted 03 June 2025 - 08:14 AM

See! I told you all how crazy the used vehicle market has gotten. Sparky, you should triple insure that investment :banana:
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#6060 lanforod

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Posted 03 June 2025 - 10:25 AM

i love the term 'super cab' when it applies to the old Ranger. Its a tiny back seat either way :D.


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