6224 replies to this topic

[Tony]

No matter how much you drive driving an EV is not impacted by the current oil price in Victoria.

[Citified.ca]

Sooke in strong buyer's market as house prices land $460k below Greater Victoria's regional average

https://victoria.cit...gional-average/

 

A buyer’s market has firmly set in throughout Sooke and its satellite communities, with February’s average for a single-family-home (the most dominant form of residential real-estate in Sooke, by far) landing at $897,516 across 22 sales, while 16 sales in March averaged $882,434. Both figures represent year-over-year price drops of 6.5% and 9.2%, respectively, and follow a nearly 2% price decline between January of this year’s 10 sales and activity in January of 2025. 

 

VREB data also shows that over the first three months of 2026, 48 single-family homes sold via the Multiple Listings Service (MLS) in the Sooke Region, compared to 67 a year ago.

 

This is noteworthy, as Greater Victoria’s single-family homes have seen strong price appreciation over the first three months of 2026. March’s regional (from Sooke to Sidney) average as reported by the VREB for MLS transactions was 4.5% higher year-over-year at $1,341,863, and February’s average was 5.4% higher at $1,377,169. In January, the price rose 4.7% to $1,305,083.

 

 

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[Citified.ca]

April reversed trend of lower year-over-year property sales in Victoria since July of 2025

https://victoria.cit...ince-july-2025/

[Victoria Watcher]

According to recent data from CMHC via the Globe and Mail, here's (at least part of) the housing situation in Vancouver and Toronto:

• Metro Vancouver has 4,919 newly built unsold homes on the market (including houses, duplexes, row houses, and condominiums).

• Of this total, 3,195 are unsold condominiums. All of these figures exclude homes that were sold but where the buyers failed to close.

• Across Metro Vancouver, 37% of the unsold condominium inventory is priced above $1 million.

• In the city of Vancouver proper, 81% of the unsold condominium inventory is above $1 million, with more than 14% priced above $3 million.

[Mike K.]

How can we figure out a way to blame Trump for BC’s 20% foreign buyer tax, and the 2% spec tax foreigners are charged annually?

Here’s what crashed BC’s real-estate market, costing thousands of jobs.

Property Transfer Tax looks like this when you’re a foreign buyer:

1% on the first $200,000
2% on the balance up to and including $2,000,000
3% on the balance greater than $2,000,000
If the property is residential, a further 2% on the portion of the fair market value greater than $3,000,000

Foreign buyers have to pay both the regular PTT and an ADDITIONAL property transfer tax that is an extra 20% of the fair market value of your proportionate share of the purchased property.

And then, every year you are likely to have to pay a 2% spec tax on the assessed value of the home. If it’s $1 million, then you pay $20k. What’s not to love?