Playing with affordability
We know that there’s been no relief in affordability lately. After staying relatively steady for a year as prices fell in concert with rising rates, it deteriorated even more in recent months as rates pushed...
Some rate relief, but damage is reverberating
The market has been primarily driven by rates in the last 18 months. Last year we saw a rapid price drop during the initial hikes followed by rate stability bringing back some exuberance in the...
October: Rates and Regulations
It’s been an eventful month for the housing market both in Victoria and the broader regulatory landscape in the province. In Victoria rates have continued to suppress activity, while the province dropped two bombshells, one...
Some quick bits
A quick update while we wait for the monthly numbers to be finalized. October 2023 Oct 2022 Wk 1 Wk 2 Wk 3 Wk 4 Sales 118 183 284 376 480 New Listings 336 529...
About those AirBnB regulations
Last week the provincial government brought in broad new restrictions on short term rentals, defining minimum standards on what’s legal, unveiling new strategies for enforcement, and most surprisingly, ending the practice of grandfathering for short...
What’s going on with condo affordability?
We know that single detached affordability will get worse and worse over the long run simply because houses will get more and more rare as a percentage of available homes. That means the remaining houses...
More on westshore weakness
Last week I mentioned that despite the overall market remaining in a mild sellers market territory, market strength depends on where you’re looking. Rising rates sideline buyers, but only if those buyers are dependent on...
September: It’s all about them rates
September is a wrap, and it’s clear that rising rates are putting a damper on the market, at least in terms of activity. Though the headline numbers look ok (reported sales at 493 are up...
What happened to those rental-restricted condos?
Just under a year ago, the BC government abolished rental restrictions in BC condos. As a reminder, at the time the landscape of condos looked like the chart below, with the majority of condos built...
Feds panic on housing, will it help?
We’re 2 years into the current term of the federal government, and back when they were campaigning for the election, none of the parties had a particularly compelling housing policy. Many of the promised policies...
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