Posts Tagged ‘Greater Victoria real estate’

Housing demand around the University of Victoria continues to grow, and new projects are reshaping how students, renters, and homeowners live near campus. Several existing and planned developments near UVic aim to increase housing supply, improve walkability, and support long-term community growth. On-Campus Housing Expansion at UVic UVic has prioritized adding more on-campus housing to address student demand. Recent residence projects have focused on higher-density buildings with modern amenities and strong sustainability standards. These residences help reduce pressure on nearby rental markets by keeping more students on campus. Looking ahead, UVic has announced plans for an additional large-scale student housing project that will add hundreds of new beds for upper-year and graduate students. This future development near UVic is designed to maximize land use while supporting transit access and campus services. University District and Long-Term Planning UVic is also planning a broader mixed-use area known as the University District. This long-term vision includes housing, commercial space, and community amenities on university-owned land near Gordon Head Road. While still in planning stages, this project signals a shift toward a more integrated campus-adjacent neighbourhood. Once complete, the University District could play a major role in expanding housing options near UVic while supporting local businesses and services. Off-Campus Developments Near UVic Several nearby developments are already changing the surrounding neighbourhoods: New rental and condo projects along Shelbourne Street and McKenzie Avenue are increasing density near key transit routes. Purpose-built rental buildings near UVic are providing alternatives to older secondary suites and student rentals. Affordable housing projects led by non-profit and public housing providers are helping diversify the local housing mix. These developments near UVic appeal not only to students but also to professionals, downsizers, and investors seeking proximity to the university and amenities. What This Means for Buyers and Renters As developments near UVic continue, buyers and renters can expect more housing choice over time. Condos and purpose-built rentals may improve affordability compared to older, high-demand rental stock. At the same time, increased density may bring changes to traffic, parking, and neighbourhood character. Checking zoning, development applications, and school catchments early remains important when considering property near the university. Final Thoughts Existing and upcoming developments near UVic reflect a broader push to address housing demand while supporting a growing academic community. For students, homeowners, and investors, these projects signal continued growth and long-term change in one of Victoria’s most sought-after areas. Leanne D, 5-Star Review, via Google “I would highly recommend the Faber Group this is the second time we have used them and have been over the top happy with their service. They are an honest group of men who all go above and beyond to make your experience perfect!” Faber Real Estate Group Royal LePage Coast Capital Realty 📞 250-244-3430 📧[email protected] ℹ️ Scott Faber Personal Real Estate Corporation ℹ️ Cal Faber Personal Real Estate Corporation Vanessa Wood, Zachary Parsons, and Sophie Taylor “Building Lasting Relationships, One Home at a Time.”

Victoria remains a top destination for people relocating to British Columbia in 2026. Mild weather, ocean views, and a relaxed pace draw families, professionals, and retirees. The city blends urban amenities with natural beauty, and balanced market conditions make settling in more approachable than peak boom years. Interprovincial migration continues to fuel growth. Many arrive from Alberta, Ontario, and other provinces seeking better quality of life and milder climates. Military Moves: CFB Esquimalt and Beyond CFB Esquimalt serves as a major hub for the Royal Canadian Navy on the West Coast. Thousands of military personnel, families, and civilians relocate here each year through postings or career moves. Key perks include: On-base housing options or priority access to local rentals Support services like the Military Family Resource Centre Proximity to schools, healthcare, and recreation tailored for families Many choose neighbourhoods like Esquimalt, View Royal, or nearby Saanich for shorter commutes. Real estate agents familiar with military relocations (like Cal Faber) can help navigate timelines, allowances, and buyer programs. Interprovincial Migration Trends Canadians from across the country keep moving to Vancouver Island. Lower housing pressure compared to Vancouver, combined with job growth in tech, government, healthcare, and defence, supports this flow. Newcomers often cite: Affordable options in suburbs like Langford or Colwood Strong schools and family-friendly communities Access to outdoor activities year-round In 2026, the market offers more inventory than recent years, giving buyers better negotiation room. Lifestyle Perks That Make Victoria Special Victoria delivers a high quality of life. Enjoy: Temperate weather with average highs around 15-22°C in summer and mild winters Walkable downtown, Inner Harbour, and vibrant food scene Nearby parks, beaches, hiking trails, and cycling paths Cultural events, festivals, and proximity to UVic and Camosun College Outdoor enthusiasts love whale watching, kayaking, and golfing. Families appreciate safe neighbourhoods and excellent public schools. Housing and Cost Considerations Single-family homes and townhomes continue to be in high demand across the region. While benchmark prices in some core neighbourhoods dipped modestly last year, buyer interest remains strong in family-oriented areas. For many newcomers, condos and townhomes still offer the most accessible entry points into the market. Rental conditions remain competitive, although vacancy rates have improved slightly. Expect higher costs in sought-after neighbourhoods such as Oak Bay or Fairfield, but more affordable options can be found in growing areas like the Westshore. To avoid surprises, use official resources to review school catchments and zoning requirements early in your search. Final Thoughts Relocating to Victoria, BC  offers a rewarding change. Military families benefit from CFB Esquimalt support, interprovincial movers find welcoming communities, and everyone enjoys the island lifestyle. Start by researching neighbourhoods that match your needs. Feel free to reach out to our team for current listings, market insights, and personalized guidance. Victoria welcomes newcomers and rewards those who make the move.   Brett Hayward, 5-Star Review, via Google “I can’t suggest how to make Fabers better at being good realtors. They’re already congenial, trustworthy, informed, experienced, and thorough. Cal listened and advised, and somewhere in the middle he said what the condo would sell for and he was right on. Thanks!” Faber Real Estate Group Royal LePage Coast Capital Realty 📞 250-244-3430 📧[email protected] ℹ️ Scott Faber Personal Real Estate Corporation ℹ️ Cal Faber Personal Real Estate Corporation Vanessa Wood, Zachary Parsons, and Sophie Taylor “Building Lasting Relationships, One Home at a Time.”

A first showing is often about first impressions. A second home showing, however, is where buyers gain clarity. This visit allows you to move past surface appeal and focus on whether the home truly works for you. How the Home Really Functions At a second showing, buyers tend to slow down. You notice room flow, storage, and how spaces connect. This is the time to picture daily routines, furniture placement, and whether the layout supports your lifestyle. Details You May Have Missed Small issues often stand out on a return visit. Look closely at finishes, windows, doors, and flooring. You may also notice signs of wear, moisture, or deferred maintenance that were easy to overlook the first time. Light, Noise, and Neighbourhood Feel Seeing the home at a different time of day can change your perspective. Pay attention to natural light, street noise, nearby activity, and privacy. These factors affect comfort long after move in day. Questions and Follow Ups A second home showing is ideal for asking targeted questions about age of systems, upgrades, utilities, or strata details. It also helps confirm whether the property still feels right once emotions settle. A second home showing provides confidence. It helps buyers confirm their decision, identify concerns early, and move forward with an offer based on clarity rather than impulse.   Michael F., 5-Star Review, via Google “Cal and Scott exceeded our expectations in every way. They were always available to answer our questions and address any concerns immediately, providing exceptional support throughout the entire process. Their dedication and expertise made the selling and buying experience seamless and stress-free. ” Faber Real Estate Group Royal LePage Coast Capital Realty 📞 250-244-3430 📧[email protected] ℹ️ Scott Faber Personal Real Estate Corporation ℹ️ Cal Faber Personal Real Estate Corporation Vanessa Wood, Zachary Parsons, and Sophie Taylor “Building Lasting Relationships, One Home at a Time.”

Perimeter drains, also known as foundation drains, are a critical part of a home’s waterproofing system. They direct water away from your foundation and help prevent basement flooding, water damage, and long-term structural issues. For homeowners in Victoria, BC, regular perimeter drain inspections are essential, especially given the region’s wet winters. Why Perimeter Drains Matter A functioning perimeter drain system protects your home’s foundation from excessive moisture. Without proper drainage, water can accumulate around the foundation, leading to leaks, mould growth, and even structural damage. Older homes, or those with heavy rainfall exposure, are particularly at risk. Signs You Might Need an Inspection Damp or wet basement walls Musty or mouldy odours in lower levels Soil erosion near the foundation Previous history of basement flooding Even if your home shows no visible signs of water intrusion, periodic inspections can catch early problems before they become costly repairs. What Happens During an Inspection Certified contractors inspect the condition of the perimeter drain system, checking for blockages, crushed pipes, or silt buildup. They may also test the slope of the soil around the foundation and examine sump pump function to ensure water is being directed properly away from the home. Benefits of Regular Inspections Prevent Costly Damage: Early detection of blockages or pipe deterioration avoids expensive basement repairs. Maintain Property Value: A dry, well-maintained basement increases buyer confidence and resale appeal. Peace of Mind: Knowing your drainage system is working protects your home from seasonal water issues. Maintenance Tips Ensure downspouts direct water at least 1.5–2 metres from the foundation Keep landscaping slopes away from the home Schedule professional perimeter drain inspections every 5–10 years, or sooner if you notice water issues Professional Help Perimeter drain inspection and maintenance are not DIY tasks. Licensed contractors in Victoria have the tools and experience to identify issues accurately and recommend effective solutions. If you’re unsure of your system’s condition, don’t hesitate to reach out for professional guidance. Final Thoughts For homeowners in Greater Victoria, perimeter drains are an often-overlooked part of maintaining a safe and dry home. Regular inspections and proper maintenance protect your foundation, prevent water damage, and preserve your home’s value — making them a smart investment for any property owner.   Darcie R., 5-Star Review, via Google “We had the best experience with Scott and the Faber Group team helping us buy our first house! From start to finish it was a positive experience, & Scott went the extra mile every chance he could. Based on our search parameters, we didn’t even come across this house, but using his expertise, he was able to find us our dream home that matched all of our criteria! We are so beyond happy and would absolutely recommend reaching out to Scott if you are looking to buy an amazing home.” Faber Real Estate Group Royal LePage Coast Capital Realty 📞 250-244-3430 📧[email protected] ℹ️ Scott Faber Personal Real Estate Corporation ℹ️ Cal Faber Personal Real Estate Corporation Vanessa Wood, Zachary Parsons, and Sophie Taylor “Building Lasting Relationships, One Home at a Time.”

Low-maintenance living has become a growing priority for today’s home buyers. Whether driven by lifestyle changes, aging in place, or a desire for simplicity, more people are choosing homes that reduce upkeep and free up time. This shift is influencing both housing design and buying decisions across many markets. Why Buyers Are Prioritizing Low-Maintenance Living Many buyers want to spend less time on chores and more time on work, travel, family, or hobbies. Larger yards, older systems, and constant repairs no longer appeal to everyone. Instead, buyers are looking for homes that offer convenience, efficiency, and predictability in ongoing costs. Low-maintenance living is especially appealing to downsizers, busy professionals, and retirees. However, it is also gaining traction with younger buyers who value flexibility and a lock-and-leave lifestyle. Popular Low-Maintenance Housing Options Several property types support low-maintenance living. Condos and townhomes remain top choices due to exterior maintenance and landscaping often being handled by strata or homeowners’ associations. Newer builds also attract buyers because they typically include modern materials, updated systems, and energy-efficient features that require fewer repairs. Smaller single-family homes with compact yards are another option. These homes provide privacy without the burden of extensive outdoor maintenance. Design Features That Reduce Upkeep Homes designed for low-maintenance living often include durable flooring, simple landscaping, and energy-efficient windows and appliances. Open floor plans can also reduce cleaning time and make spaces easier to manage. As a result, functionality often takes priority over excess space. How This Trend Is Shaping the Market The demand for low maintenance living is influencing both developers and sellers. Builders are focusing on practical layouts and long-lasting materials, while sellers are highlighting ease of upkeep as a key selling feature. In competitive markets, low-maintenance living can give a property a clear advantage. Is Low Maintenance Living Right for You? Choosing low-maintenance living depends on your priorities and long-term plans. If flexibility, predictable expenses, and reduced responsibility matter to you, this lifestyle may be a strong fit. As housing preferences continue to evolve, low-maintenance living is likely to remain an important trend for buyers at every stage of life.   Demetrios T., 5-Star Review, via Google “Scott and Cal Faber were exceptional to work with. They were professional, patient, and incredibly informative throughout the entire process. They took the time to walk me through every step, which made the typically stressful experience of moving so much easier. Their knowledge of real estate is second to none, and their guidance gave me complete confidence in my decisions. I highly recommend both Scott and Cal to anyone looking for trusted, knowledgeable, and supportive realtors.” Faber Real Estate Group Royal LePage Coast Capital Realty 📞 250-244-3430 📧[email protected] ℹ️ Scott Faber Personal Real Estate Corporation ℹ️ Cal Faber Personal Real Estate Corporation Vanessa Wood, Zachary Parsons, and Sophie Taylor “Building Lasting Relationships, One Home at a Time.”

Designed as a connected seaside neighbourhood, Royal Bay offers residents a mix of convenience, outdoor living, and daily necessities within walking distance of home. Royal Bay’s walkable lifestyle and amenities are central to what makes this Westshore community stand out. Walkable Design and Outdoor Connectivity Royal Bay’s layout prioritizes pedestrians and cyclists. Streets are designed to be safe and accessible, linking homes to parks, trails, beaches, and neighbourhood services without needing a car. Protected bike lanes, interconnected pathways, and easy access to the Galloping Goose regional trail reflect this focus on active transportation and walkability. Nature is woven into the community with over 10 kilometres of trails, playgrounds, and green spaces. Scenic seaside paths, forested walkways, and parks like the new Quarry Park create everyday opportunities for walking, running, or cycling close to home. Everyday Amenities at Your Doorstep Royal Bay’s mixed-use village, known as The Commons, anchors local amenities. This retail hub offers essential services and shops, including liquor stores, pharmacy services, and banking, all conveniently located within walking distance for residents. Dining options and local favourites, including bakeries and coffee shops, further enhance the pedestrian-friendly character of the area. Schools, Recreation, and Community Services Royal Bay is family-oriented with schools situated within the community and plenty of outdoor recreation. Trails, sports fields, and playgrounds make it effortless to walk to activities, while parks and green spaces provide daily outdoor destinations. Upcoming Amenity and Infrastructure Plans Several significant amenity projects are shaping the future of walkability and daily life in Royal Bay: Royal BC Museum Collections and Research BuildingA major cultural facility that will house research and public exhibits is coming to Royal Bay, with an expected opening in 2026. This landmark will add cultural destination appeal within walking distance of homes. Transit Exchange and Connectivity EnhancementsPlans include a Royal Bay Transit Exchange to improve public transit access across the Westshore and beyond, supporting walkable travel without dependence on a car. Quarry Park ExpansionQuarry Park’s new playground is open, and future walking trails, pump tracks, and open green spaces are scheduled to open in summer, along with planned sports fields, washrooms, and a potential community centre. New Residential and Mixed-Use DevelopmentProjects such as Bella Park condominiums will include extensive resident amenities like fitness spaces, social areas, green spaces, and co-working lounges, enhancing local walkable experiences and community engagement. Construction is expected to proceed through 2025–2027. What This Means for Residents The emphasis on walkability and amenities in Royal Bay makes living in this community distinct among Westshore neighbourhoods. Daily needs, recreation, culture, and connectivity are thoughtfully integrated so residents can walk to essential services, enjoy outdoor spaces, and participate in community life without long drives. Christina A. 5-Star Review, via Google “We had such a great experience working with Scott Faber during our recent home buying! From the start, Scott made everything super easy and was always there to answer our questions. Scott really listened to what we wanted and helped us find the perfect place.What we appreciated most was how down-to-earth and approachable he was. No matter what came up, Scott was on top of it and kept us in the loop the whole time. We felt like we were in great hands the entire process. ” Faber Real Estate Group Royal LePage Coast Capital Realty 📞 250-244-3430 📧[email protected] ℹ️ Scott Faber Personal Real Estate Corporation ℹ️ Cal Faber Personal Real Estate Corporation Vanessa Wood, Zachary Parsons, and Sophie Taylor “Building Lasting Relationships, One Home at a Time.”

When buying a home in Greater Victoria, many buyers must decide between a new build and a resale home. Each option offers unique benefits, depending on your budget, lifestyle, and timeline. Price and Ongoing Costs New build homes often come with a higher purchase price, particularly in growing areas like Langford and Colwood. While they include modern finishes and energy efficiency, buyers should budget for extras such as landscaping and window coverings. Resale homes may have a lower upfront cost, especially in established neighbourhoods. However, older homes may require updates or repairs, making a home inspection essential. Location and Neighbourhood New builds are typically located in developing communities, often farther from downtown Victoria. These areas offer newer infrastructure and planned layouts but may take time to fully mature. Resale homes are common in established neighbourhoods like Fairfield, Oak Bay, and Gordon Head, where amenities, schools, and transit are already in place. Customization and Condition New builds allow for modern layouts and, in some cases, finish selections. They also meet current building codes and include new systems, which can reduce early maintenance. Resale homes offer character and established lots. While updates may be needed, renovations can be done gradually and tailored to your preferences. Timelines and Warranties New builds often require flexible timelines due to construction schedules but come with the protection of BC’s 2-5-10 home warranty. Resale homes typically offer quicker possession and more predictable closing dates, though they do not include warranties. Which Option Is Right for You A new build may suit buyers looking for modern features and low initial maintenance, while a resale home may appeal to those prioritizing location and neighbourhood character. In Greater Victoria’s competitive market, the right choice depends on your long-term goals and lifestyle needs. Helen M, 5-Star Review, via Google “Cal and Scott are the best. They made it happen and made the entire process of securing my condo smooth and stress free. They were always supportive, responsive, and clearly committed to getting the right result. I am very grateful for their hard work and would highly recommend them to anyone looking for reliable, dedicated realtors.” Faber Real Estate Group Royal LePage Coast Capital Realty 📞 250-244-3430 📧[email protected] ℹ️ Scott Faber Personal Real Estate Corporation ℹ️ Cal Faber Personal Real Estate Corporation Vanessa Wood, Zachary Parsons, and Sophie Taylor “Building Lasting Relationships, One Home at a Time.”

Spring is one of the busiest and most competitive times of year in the real estate market. Buyers are active, inventory increases, and well-prepared homes tend to stand out. If you are thinking about selling this spring, taking the right steps early can make a meaningful difference in both timing and final sale results. Here are the key steps to take if you want to sell your home this spring. Start Planning Early Preparation is critical for a successful spring sale. Begin planning several months in advance to allow time for repairs, cleaning, and professional guidance. Early planning helps avoid rushed decisions and ensures your home is ready when buyer activity peaks. Get a Professional Market Evaluation Understanding your home’s current market value is essential. A professional evaluation provides insight into pricing, recent comparable sales, and local demand. Pricing accurately from the start can attract more interest and reduce the risk of extended time on market. Declutter and Depersonalize Buyers want to envision themselves living in the space. Decluttering creates a sense of openness, while depersonalizing helps buyers focus on the home rather than the current owner. This includes clearing countertops, reducing furniture, and organizing storage areas. Complete Minor Repairs and Updates Small issues can leave a lasting impression on buyers. Addressing minor repairs such as leaky faucets, chipped paint, loose fixtures, and worn caulking can improve overall presentation. Simple updates often deliver a strong return by making the home feel well cared for. Focus on Curb Appeal First impressions start before buyers walk through the door. Refresh landscaping, clean walkways, and ensure the exterior looks tidy and inviting. Spring buyers are especially attentive to outdoor spaces, so highlighting these areas is important. Prepare for Professional Photography and Marketing High-quality photography and marketing are essential in today’s market. A clean, well-lit, and staged home photographs better and attracts more online interest. Strategic marketing ensures your home reaches the right buyers at the right time. Plan Your Timing Strategically The timing of your listing can impact exposure and competition. Understanding local market trends and seasonal patterns can help determine the best moment to list. Strategic timing can lead to stronger interest and smoother negotiations. Be Ready for Showings Once your home is listed, flexibility is key. Keeping the home show-ready and accommodating viewing requests increases the chances of attracting serious buyers. A well-prepared home that is easy to show often sells more efficiently. Work With a Trusted Real Estate Professional Navigating a spring sale requires local market knowledge, strong negotiation skills, and effective marketing. Working with an experienced real estate professional helps ensure every step is handled strategically, from preparation to closing. Selling your home in the spring can be a rewarding experience when approached with the right plan. Preparation, presentation, and professional guidance all play a role in achieving the best possible outcome.   Don Wong. 5-Star Review, via Google “I would recommend them to anyone buying real estate on the Vancouver Island. The team is very knowledgeable, courteous and professional, adding a personal touch to building a strong relationship. ” Faber Real Estate Group Royal LePage Coast Capital Realty 📞 250-244-3430 📧[email protected] ℹ️ Scott Faber Personal Real Estate Corporation ℹ️ Cal Faber Personal Real Estate Corporation Vanessa Wood, Zachary Parsons, and Sophie Taylor “Building Lasting Relationships, One Home at a Time.”

Discovering asbestos in a home can be alarming, but it’s not uncommon in older properties in Victoria, BC, and it doesn’t always mean you need to panic. Asbestos-containing materials were widely used in insulation, flooring, roofing, and siding until the late 1980s. The key is understanding your options and taking appropriate safety measures. Confirm the Findings If your home inspection or testing report indicates asbestos, the first step is to ensure the results are accurate. Certified professionals can perform lab testing on samples to confirm the presence and type of asbestos. Knowing exactly what you’re dealing with helps guide safe removal or management. Assess the Risk Not all asbestos poses an immediate health threat. Asbestos is most dangerous when fibers become airborne and are inhaled. Intact, undisturbed materials (like insulation behind walls or flooring under carpet) are generally considered low-risk. A qualified professional can help determine whether the asbestos requires removal or if it can be safely managed in place. Hire Licensed Professionals for Removal If removal is necessary, only licensed asbestos abatement contractors should handle the work. Attempting DIY removal can release harmful fibers and create a serious health hazard. In Victoria, the Ministry of Labour and WorkSafeBC regulate asbestos removal, so using certified professionals ensures compliance with safety standards. Consider Containment or Encapsulation In some cases, asbestos can be safely managed without removal. Encapsulation involves sealing the material so fibers cannot escape, while containment involves enclosing the area to prevent exposure. These options may reduce costs while keeping the home safe. Communicate With Buyers or Sellers If you’re buying or selling a property, transparency is critical. Sellers should disclose asbestos findings, and buyers may negotiate repairs, removal, or price adjustments. Buyers should consult professionals to understand risks and potential costs before finalizing a purchase. Plan for Costs and Timing Removal or management of asbestos can be expensive, and scheduling certified professionals may take time. Include these considerations in your home buying or selling timeline. Factor the work into your budget to avoid surprises. Maintain Records Keep documentation of inspections, lab results, and any removal or management work performed. Future buyers or homeowners will benefit from clear records showing the home has been professionally assessed and safely maintained. Final Thoughts A positive asbestos report is not necessarily a dealbreaker. With the right approach — professional testing, proper risk assessment, safe removal or management, and transparent communication — homeowners in Victoria can navigate asbestos concerns safely while protecting their investment.   Scott L., 5-Star Review, via Google “Cal and Scott were not only professional but also incredibly personable and supportive. They were responsive to all my questions and concerns, making the entire selling process smooth and low stress. I highly recommend the Faber Group to anyone looking to sell their home with confidence. Thank you, Cal and Scott, for your outstanding service! ” Faber Real Estate Group Royal LePage Coast Capital Realty 📞 250-244-3430 📧[email protected] ℹ️ Scott Faber Personal Real Estate Corporation ℹ️ Cal Faber Personal Real Estate Corporation Vanessa Wood, Zachary Parsons, and Sophie Taylor “Building Lasting Relationships, One Home at a Time.”

Housing affordability continues to be a central topic for buyers, sellers, and policymakers in Greater Victoria. With a diverse range of neighbourhoods and property types from condos and townhomes to single‑family homes, affordability trends vary across the region. Understanding these patterns helps prospective buyers set realistic expectations and allows homeowners to plan strategically in a shifting market. Sales Prices vs Buyer Income One common measure of affordability compares typical home prices to local household incomes. In Greater Victoria, median home prices for detached houses have historically exceeded provincial and national averages, making ownership of traditional single‑family homes less attainable for some households. Condominiums and townhomes generally provide more accessible entry points, but even these segments can present challenges when demand rises. Impact of Interest Rates Mortgage interest rates play a major role in affordability. When rates are higher, monthly carrying costs increase even if sale prices stabilize. Conversely, more favourable financing conditions can enhance affordability by increasing buyers’ purchasing power. In 2025 and into 2026, shifts in interest rates have influenced buyer decisions, with some buyers choosing to remain patient or explore alternative housing types. Inventory and Buyer Options Inventory levels directly affect affordability. Limited supply can tighten competition and support higher prices, while increased listings can offer buyers more choice and negotiating flexibility. Greater Victoria’s seasonal patterns can lead to fluctuating inventory, with spring often bringing more listings than winter, which may ease affordability pressures at certain times of the year. Neighbourhood and Housing Type Variations Affordability trends vary widely across neighbourhoods. Areas with higher demand, such as central Victoria, Oak Bay, and select Westshore pockets, often command premium pricing, while more peripheral or up‑and‑coming communities can offer relatively lower entry points. Housing type also matters: smaller condos and townhomes remain key pathways for many first‑time and move‑down buyers. Rental Market Influence Rental affordability also shapes overall housing dynamics. In markets with tight rental conditions, more households may seek to purchase, further influencing demand and pricing patterns. Conversely, balanced rental markets can provide a viable alternative for buyers who are priced out of home ownership in the short term. Policy and Incentives Government policies and incentives, including first‑time buyer programs, tax treatments, and development approvals play a role in shaping affordability. Local and provincial initiatives aimed at supporting buyers and encouraging diverse housing supply can influence market conditions over time. Looking Ahead Greater Victoria’s housing market continues to evolve. For buyers, understanding affordability in the context of price trends, interest rates, neighbourhood characteristics, and available inventory is essential. Sellers can benefit from insight into which housing segments are attracting interest and how affordability influences buyer behaviour. Working with a knowledgeable real estate professional can help you interpret these trends and apply them to your personal goals, whether you are entering the market for the first time, moving within the region, or planning ahead.   Justine D., 5-Star Review, via Google “We did not just gain a realtor, but a friend. If you are looking for a realtor you can TRUST, and will look out for YOUR interests— then Cal and Scott are IT!!! I would recommend them to anyone looking to buy a home on the Island. I should also mention that Cal negotiated an amazing price on the purchase of our home and made sure if something was not right when we took possession that it would be taken care of. Cal and Scott and realtors with integrity and kindness. ” Faber Real Estate Group Royal LePage Coast Capital Realty 📞 250-244-3430 📧[email protected] ℹ️ Scott Faber Personal Real Estate Corporation ℹ️ Cal Faber Personal Real Estate Corporation Vanessa Wood, Zachary Parsons, and Sophie Taylor “Building Lasting Relationships, One Home at a Time.”