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2017 Victoria Housing Market Forecast Tag: housing forecasts

Total Area Sales for Victoria in 2016 from Macdonald Realty

In 2016, the Victoria real estate market broke records across the board: over 10,000 transactions took place, the most ever since the Board began tracking the number in 1990. Real estate values for single family homes increased 20% overall, with increases ranging as high as 37% in the Victoria core.

The Canadian Housing Market Association (HMA) has warned of the problems arising from real estate price increases and overbuilding across the country, but predictions are hopeful that the market will slow and stabilize by 2018.

I'll be taking a detailed look at the real estate market forecast for Victoria in 2017, as predicted by a number of leaders in the industry.

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Victoria Housing Forecast For 2016 Tag: housing forecasts

Rooftop photo of downtown Victoria BC in spring, facing Wharf St.

With the release of housing market reports from the Canada Mortgage and Housing Corporation (CMHC), VREB, TD Bank, Royal LePage, and other real estate and economic organizations over the past few months, a picture of the Victoria housing market in 2016 is slowly starting to come together. The majority of available reports focus on Vancouver and BC as a whole, but as the Victoria market takes cues from the mainland, our outlook doesn't look to be too different. Here's what we keep seeing.

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