by VRBA | Feb 28, 2023 | Blog, Housing data, news
Here are three common myths about housing: Myth #1: Houses are unaffordable Many buildings are affordable, but the land is not. For example, a 1950’s home on a 14,950 sq ft lot in Saanich was assessed at $1,033,000 by BC Assessment in July 2022. The building was... read more
by VRBA | Feb 21, 2023 | Blog, Housing data, news
Speculation Tax notices have gone out recently to British Columbians requiring a declaration on their private property. The province already generates $3 billion a year by charging an average $16,000 in Property Transfer Tax for a land title transfer costing a few... read more
by VRBA | Feb 9, 2023 | Blog, Housing data, news
The federal government created a new Underused Housing Tax, (UHT) which was misrepresented as a foreign buyers tax. Like BC’s Speculation Tax, UHT will likely mostly apply to Canadians owning two or more properties. For example, in BC, newlyweds each owning a... read more
by VRBA | Jan 24, 2023 | Blog, Housing data, news
VRBA’s Annual Crystal Ball Housing Forecast was recently held with presentations by: Graden Sol, Chair, Victoria Real Estate Board Brendon Ogmundson, Chief Economist, BC Real Estate Association Pershing Sun, Senior Analyst, CMHC Casey Edge, Executive Director, VRBA... read more
by VRBA | Jan 19, 2023 | Blog, Housing data, news
CMHC reports there was zero new missing middle housing (townhomes, duplexes, etc) in six CRD municipalities in 2022. The municipalities are Central Saanich, Saanich, Oak Bay, North Saanich, Metchosin, and Highlands. There were only 6 new units built in View Royal. As... read more
by VRBA | Jan 18, 2023 | Blog, Housing data, news
CMHC reports total housing starts in Greater Victoria marginally declined -0.4% from 4809 in 2021 to 4787 in 2022. However, single detached housing was down 21% from 860 to 679. Multi-family, which includes condos, townhomes and duplexes increased 4% from 3949 in 2021... read more
