Office of the Premier

New premier delivers action to expand housing supply within first days

Victoria

November 21, 2022

To help deliver more good homes for people, the Province is introducing new laws to build the homes people need, make it possible for homes that are vacant to be rented and remove discriminatory age and rental restrictions in strata's that hurt young families.condo in Victoria

“B.C.’s housing crisis is stressing out and hurting people while it holds back our economy,” said Premier David Eby. “As a first step in my 100-day plan, we are making changes to deliver more homes for British Columbians, faster. We will work with municipalities to set housing targets and make sure the homes people need get built. For those…

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BC Housing Taxes and What You Should Know

Property Transfer Tax / Foreign Buyer Tax / Speculation Tax / Underused Housing Tax 

British Columbia has initiated several taxes that all purchasers should be aware of.

Property Transfer Tax:
When you purchase or gain an interest in property that is registered at the Land Title Office, your legal professional must file a property transfer tax return and you must pay property transfer tax, unless you qualify for an exemption. 

Property transfer tax should not be confused with annual property taxes. 
Annual property taxes are paid yearly to your municipal or rural tax office for each property you have a registered interest in to fund services in your area.

Further info on Property Taxes:  …

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Victoria Market Report 

A slight uptick in sales and inventory, but Victoria real estate market still requires commitment to homes 

November 1, 2022   A total of 480 properties sold in the Victoria Real Estate Board region this October, 35.6 per cent fewer than the 745 properties sold in October 2021 but a 17.1 per cent increase from September 2022. Sales of condominiums were down 39 per cent from October 2021 with 152 units sold. Sales of single family homes decreased 32.2 per cent from October 2021 with 230 sold. 

“Inventory has remained stable this month and for the first time since May 2022, we see a slight increase in the month over month sales,” says Victoria Real Estate Board President Karen Dinnie-Smyth. “We noted last month that the…

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Victoria Market report


October 3, 2022  A total of 410 properties sold in the Victoria Real Estate Board region this September, 46.1 per cent fewer than the 761 properties sold in September 2021 and a 14.2 per cent decrease from August 2022. Sales of condominiums were down 58.8 per cent from September 2021 with 126 units sold. Sales of single family homes decreased 33.2 per cent from September 2021 with 221 sold.

"September heralds the start of the fall season, which traditionally brings a more active market than what we see in the summer months. October is generally the peak of the fall and winter market," says Victoria Real Estate Board President Karen Dinnie-Smyth. "This year sales have dropped month over month since May and we saw a reluctant…

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Victoria Market Report

Strong First Quarter for BC Housing Markets, But Rising Rates Loom Large
March Market Report 2022

The British Columbia Real Estate Association (BCREA) reports that a total of 11,463 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in March 2022, a decrease of 24.1 per cent from a record March 2021.

The average MLS® residential price in BC was $1.096 million, a 15.7 per cent increase from $946,813 recorded in March 2021. Total sales dollar volume was $12.6 billion, a 12.1 per cent decline from the same time last year.

“Home sales in the province continue to moderate from record highs of this time last year,” said BCREA Chief Economist Brendon Ogmundson. “Given the sharp rise in Canadian mortgage…

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Consumer Protection

The British Columbia Real Estate Association (BCREA), with support from the province’s eight real estate boards and 24,000 REALTORS®, has presented a white paper to the BC government with sweeping recommendations on creating more housing options for British Columbians, improving affordability and better protecting consumers in real estate transactions. We call our white paper A Better Way Home: Strengthening Consumer Protections in Real Estate.

Our recommendations are based on extensive feedback from consumers and Realtors, including focus groups and surveys. It combines on-the-ground insights from buyers, sellers and Realtors with detailed economic analysis and a study of the impacts of attempted housing market interventions…

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Float Home for Sale in Fishermans Wharf

Fisherman's Wharf


Video Tour

Charming Float Home in the heart of James Bay at Fisherman's Wharf. Living on the water is a lifestyle and this one comes with lots of perks. Arriving at the home, you are greeted by a lovely porch where you can have coffee and chat with your neighbours. There is ample room with 738 sqft of finished living space featuring clean lines, exposed painted white rafters & ceiling joists giving the home a beach feel. Open concept kitchen with stainless appliances, gas stove and breakfast bar. Living room with efficient propane fireplace. Main floor 4-pc bath. Master bedroom has sliding doors to your own private covered balcony to enjoy the sights and sounds of waterfront life. Skylight and plenty…

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Victoria Market Report

Record low inventory prevents Victoria real estate market from cooling-off
A total of 718 properties sold in the Victoria Real Estate Board region this February, 16.8 per cent fewer than the 863 properties sold in February 2021 but a 51.5 per cent increase from January 2021. Sales of condominiums were down 7.9 per cent from February 2021 with 267 units sold. Sales of single family homes decreased 20.8 per cent from February 2021 with 309 sold. “It was heartening this month to see some more listings come to market in February,” said 2022 Victoria Real Estate Board President Karen Dinnie-Smyth. “However, inventory levels remain at record lows and without a strong government focus on increasing supply, buyers will continue…

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Top Victoria Realtor I am honoured to receive the President's Premier Award representing the Top 1% of Coldwell Banker Agents Worldwide from one of the largest Real Estate brokerages globally. If you need help selling or buying a home, my phone is always on and I would be happy to advise and help you through this transitional process. Feel free to reach out anytime if only for a coffee/tea and a chat.

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This Beacon Hill condo is perfectly located in the highly sought after Roberts House development in the charming and historic James Bay area. No need for a car with its walkability factor, but an underground parking spot is included along with convenient electric charging stations & guest parking. Floor to ceiling windows allow for stunning views of famous Beacon Hill Park with a convenient balcony that adds outdoor living space to this groovy studio. The well planned layout offers seating & office space, an eating area, a sleep zone, a separate kitchen & bath plus an oversized walk-in closet. Tastefully decorated and updated throughout. An extremely well run concrete and steel building with on-site management, parking, community gardens, bike…

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