A couple days ago we got some stories about how the foreign buyer numbers were finally released to cover the period from June to September 2017. It was a bit strange, since every story referenced “statistics released Tuesday afternoon by the province” but I couldn’t for the life of me find those statistics. There was no press release by the Ministry of Finance like we had before, and the data was not up to date on DataBC. So was the data released only to journalists? Can anyone help me find this so called release?
No matter, after some gentle poking at the ministry and the help of a friendly HHV reader, the DataBC record was updated with the up to date foreign buyer data this morning.
Almost all the data reported in the media about Victoria is slightly wrong, because they divided the number of foreign buyer involved transactions for all types of properties (residential and commercial) with the total number of residential transactions to get their percentages. No big problem, they were only off by a tenth of a percent or so. Here is the up to date data.
No great change in the numbers for our region. I still find the numbers for Saanich surprisingly high at 8.3% for the year so far, nearly twice the level of Victoria proper. It doesn’t combine well with Saanich council dragging their feet on every new development.