The price of new homes in Greater Victoria dipped 2.4 per cent in January, compared to January 2011 – the largest percentage drop among 21 major Canadian regions, according to Statistic Canada. Greater Victoria also posted the most significant monthly decline, sliding by 0.8 per cent in January from December. Home builders dropped prices in Greater [...]
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Real Estate Numbers Hold Steady on Vancouver Island in February
Multiple Listing Service (MLS) sales summary data released by the Vancouver Island Real Estate Board indicates a continued even ground over much of Vancouver Island in terms of real estate sales activity. Across VIREB’s coverage area, average sales prices were up two per cent over February 2011. The average sales price for a single family [...]
Nanaimo Real Estate Predicted to See Increased Sales and Prices
Canadian Mortgage and Housing Corporation recently released its summarized statistics for 2011, along with its predictions for 2012 and 2013. The corporation’s predictions are mostly positive and point toward measured steady growth in the housing market with no huge swings through 2013. Single family home starts in Nanaimo dropped 40 per cent from 410 in [...]
New Homes and Recreational Homes in BC Get HST Relief
The provincial government has announced the end of the HST and introduced transitional tax changes designed to help the province’s real estate and home construction industries in the meantime. BC will raise its new-housing HST rebate threshold to $850,000 from the current $525,000 to help offset the cost of the HST, until it is scrapped [...]
New Apartment Building Boosts Nanaimo Construction Starts
A 121-unit apartment development gave a boost to an otherwise slow January for Nanaimo‘s new home construction industry. The four storey building going up on at 775 Terminal Ave. propped up the latest new housing starts report from Canada Mortgage and Housing Corp. Single-family home starts were flat from January 2011, with a total of [...]
Building Permits Dropped Significantly in Victoria In 2011
The total value of building permits issued in Greater Victoria dropped by more than $120 million last year as Vancouver Island new home builders waited out the harmonized sales tax and the non-residential construction sector waited for the overall economy to improve. Figures released by Statistics Canada showed the region saw $648 million worth of building [...]
More Homes in Nanaimo Are Selling, and for Higher Prices
More homes are selling in Nanaimo, and at a higher price than this time a year ago. A total of 62 units sold in the city last month, a 13% increase from a year ago, with the average selling price up 6% to $360,799, according to the latest sales summary from Vancouver Island Real Estate Board. [...]
Vancouver Island Real Estate Sales Numbers Up Slightly in January
Sales data released by the Vancouver Island Real Estate Board shows that Vancouver Island real estate sales activity tarted off well in 2012. Across VIREB’s coverage area average sales prices edged up three per cent over 2011. The average sales price for a home sold within VIREB’s zones in January 2012 was $332,270, a modest [...]
New Real Estate Developments Mean Construction Increases on North Vancouver Island
Editor’s note: The following story ran in the Jan. 13 edition of the Comox Valley Echo. New figures show there was a big fall in the number of new houses being built locally last year – but there are signs the situation is starting to turn around. The details have been compiled by Building Links [...]
Real Estate Construction Expected to Rise in Nanaimo
There’s reason for quiet optimism in the central Vancouver Island area construction industry, despite lingering effects of an economic downturn. That’s the message close to 200 audience members heard at the Canadian Home Builders’ Association Central Vancouver Island’s construction industry forum in early January. From interest rates and investment opportunities in Nanaimo, speakers talked of a [...]
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