Posts Tagged ‘Saanich real estate’

For Saanich house buyers, the biggest story is not one single rule. It is the combination of planning changes, density rules, buyer tax thresholds, and transit-focused growth that could change what is available, where new housing appears, and how buyers think about value in 2026. Saanich is already working under an updated Official Community Plan adopted on May 7, 2024, and the municipality is now moving through more detailed housing and growth implementation steps. The practical takeaway is simple: if you are planning to buy a detached home in Saanich, you now need to think about more than the house itself. You also need to think about the lot, the zoning, proximity to major transit, redevelopment potential nearby, and whether your purchase still fits within current tax exemption thresholds. Those details can affect both your competition today and your resale position later. Why This Matters More in 2026 Saanich has been given a provincial housing target of 4,610 net new completed homes over five years, and the municipality says that target includes tripling permit volume over that period. At the same time, Saanich’s Housing Strategy now runs with a 10-year framework, and its 2026-2028 Priorities Plan lays out the next phase of actions to improve housing outcomes. That means buyers should expect continued pressure for more housing supply, faster approvals, and more change in established neighbourhoods than they may have seen in the past. For buyers, that does not automatically mean lower prices. What it often means first is more variation. One street may still feel mostly unchanged, while another nearby could see townhomes, houseplexes, or higher-density projects become part of the long-term picture. 1) Small-Scale Multi-Unit Housing Is Changing What a “House Lot” Means One of the biggest shifts is B.C.’s small-scale multi-unit housing framework. The Province requires local governments to allow at least: 3 units on parcels 280 m2 or smaller 4 units on parcels larger than 280 m2 6 units on qualifying larger lots near frequent bus service These requirements apply in single-family and duplex zones unless the zone already allows three or more units. For Saanich house buyers, this matters in a few ways: Some detached homes will become more attractive because of future infill potential Nearby lots may hold redevelopment value even if the current home looks modest Buyers may start paying more attention to frontage, lot size, servicing, access, and transit proximity Traditional “single-family feel” may change over time in some areas This does not mean every Saanich block is suddenly turning into a townhouse corridor. It does mean the value of land and the value of a house are separating more clearly in certain pockets. A buyer who understands that distinction can make a much stronger decision than one who shops on cosmetics alone. 2) Transit-Oriented Areas Could Reshape Some Saanich Locations Faster Saanich’s Transit-Oriented Area rules are already in effect. The municipality identifies four provincial transit-oriented areas in Saanich: Uptown exchange, Royal Oak exchange, UVic exchange, and VGH exchange. Within these areas, provincial legislation governs density, height, and residential parking rules. The key details are important: Lands within 200 m and 400 m of prescribed transit stations must be designated as TOAs Within these TOAs, the Province sets minimum density and height requirements Within 400 m, local governments cannot require minimum off-street residential parking, except accessible parking In Saanich, zoning bylaw amendments reflecting these parking changes were adopted on June 10, 2024 For buyers, this could affect value in two opposite ways. First, homes near these areas may benefit from stronger long-term land value and improved convenience. Second, buyers who want a quieter, lower-density setting may need to be more selective about where they buy and how close they are to a transit exchange. A detached house near a major transit node may become more desirable to one buyer and less desirable to another. That is why location analysis in Saanich is becoming more nuanced, not less. 3) The Shelbourne Valley Plan Could Change Buyer Expectations in That Corridor One of the most active planning conversations right now is the Shelbourne Valley Plan. On March 2, 2026, Saanich confirmed that the proposed updated plan is moving to a public hearing later this year. Council moved it forward with three amendments: changing the “Shelbourne Valley Centre” designation to Shelbourne Valley Village reducing the maximum building height in that area from 12 storeys to 6 storeys extending the northern boundary to designate selected properties as Urban Townhomes between Shelbourne Street and Lambrick Park Secondary School strengthening watershed-related guidance and measurable outcomes For buyers looking in or near Shelbourne, Cedar Hill, or UVic-adjacent pockets, this matters because it speaks to where future growth may go and what form that growth may take. In plain terms, the corridor is still moving toward more housing, but the shape of that growth is being refined. Buyers who want to be ahead of change should watch this area closely, especially if they care about future walkability, transit access, redevelopment potential, or neighbourhood character. 4) First-Time Buyer Tax Rules Still Matter, Especially in Saanich Price Ranges Many buyers focus heavily on mortgage rates and monthly payments, but the property transfer tax still matters. In B.C., the first-time home buyers’ exemption currently works like this: if the fair market value is $500,000 or less, an eligible buyer can claim a full exemption equal to the full amount of property transfer tax from over $500,000 to $835,000, the exemption amount is $8,000 from over $835,000 to under $860,000, the exemption is reduced proportionally That matters in Saanich because many detached homes trade well above those thresholds. For some buyers, that means the first-time buyer tax break may be more realistic on a condo, townhome, or smaller entry-level property than on a detached house. In other words, government thresholds can quietly shape what “smart entry point” means. There is also a separate newly built home exemption in B.C. with a full exemption up to $1,100,000 and a phase-out to $1,150,000 for qualifying purchasers. That can make certain new-build options more competitive than buyers assume at first glance. 5) The Home Buyer Rescission Period Still Changes Offer Strategy The Home Buyer Rescission Period is not new in 2026, but it remains an important part of how buyers should approach offers in Saanich and across B.C. BCFSA states that buyers have up to three business days after acceptance to rescind an offer on a home, excluding weekends and holidays. If they rescind, they must pay the seller a fee. This affects buyer behaviour because it changes the psychology of writing an offer. Some buyers feel more protected. Others underestimate the financial consequence of changing course. A rushed decision can still be expensive. In a market where inventory has improved and buyers often have more choice than they did a few years ago, disciplined due diligence still matters more than impulse. 6) Saanich’s Broader Housing Push Could Affect Competition and Opportunity Saanich’s housing work is not just about rezoning. The municipality has also tied its strategy to implementation tools such as the Housing Accelerator Fund. Saanich says it received nearly $15 million over four years through the federal Housing Accelerator Fund and is aiming to permit 1,727 new homes through the program period. That matters because faster approvals and more housing forms can gradually create more choice. For buyers, more choice can mean: less pressure to overreact better ability to compare neighbourhoods and product types more alternatives between condo and detached more emphasis on long-term suitability instead of short-term panic At the same time, added supply rarely arrives all at once. The likely reality is uneven change: some buyers will find better options, while others will still face competition for well-priced detached homes in established Saanich neighbourhoods. 7) Investors and Second-Home Buyers Should Also Watch Tax Changes For investors or buyers considering underused property, the speculation and vacancy tax is another factor to watch. The Province states that for 2026 and subsequent years, the rate is 3% for foreign owners and untaxed worldwide earners, and 1% for Canadian citizens or permanent residents who are not untaxed worldwide earners, where the tax applies. This will not affect every Saanich house buyer. But it can affect some ownership decisions, especially for buyers thinking about part-time use, empty homes, or more complex ownership structures. That matters because rules aimed at unused housing can influence both carrying costs and investment behaviour. What Saanich House Buyers Should Do Now The biggest mistake buyers can make is treating all of Saanich as if it is moving in one direction. It is not. Some pockets are more affected by transit-oriented growth. Some are more exposed to infill change. Others may remain relatively stable in character while still benefiting from broader supply improvements. A stronger approach is to ask five better questions before you buy: Is this property mainly a home value play, a land value play, or both? Is it near a transit-oriented area or frequent bus service that could change future density? Would nearby redevelopment improve convenience or change the feel of the street in ways that matter to me? Am I relying on a tax exemption that may not apply to the property type or price range I want? If I buy here, will this location still make sense for me in five to ten years as Saanich continues to grow? That is the real shift in 2026. Buyers are no longer just choosing between house A and house B. They are choosing between different planning contexts, different long-term neighbourhood trajectories, and different financial trade-offs. Final Thoughts For Saanich house buyers, the upcoming changes are less about one dramatic moment and more about a steady reset in how housing, land, and neighbourhood value will be understood. Provincial density rules, transit-area growth, evolving local plans, and tax thresholds are all shaping the next version of Saanich. Buyers who understand those layers will be in a much better position to buy with confidence instead of reacting late.   Hilary M., 5-Star Review, via Google “Scott and the rest of the team at the Faber Real Estate Group are fantastic! Scott went above and beyond to find us the perfect property that checked all the boxes. He was extremely attentive and professional and made the entire process very enjoyable. His extensive experience in the real estate industry helped us to choose a property that suited us and he was able to give us lots of helpful insight throughout our experience. Highly recommend to anyone in need of a trustworthy, knowledgeable real estate agent.” 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 you’re evaluating where to buy in the Greater Victoria, Saanich, or Westshore markets, understanding municipal property tax differences is an often-overlooked but highly relevant financial factor. Two homes with identical assessed values can lead to noticeably different tax bills year-to-year depending on the municipality — so knowing how rates stack up can influence both your upfront cost estimates and your long-term ownership costs. How Property Taxes Work in BC In British Columbia, municipal property taxes are calculated by multiplying the assessed value of your home by the municipal tax rate (mill rate). The assessment comes from BC Assessment and reflects market value as of July 1 prior to the tax year. Your total tax bill isn’t just the municipal share — it also includes levies collected for: Provincial school tax Capital Regional District (CRD) services Hospital district Transit Other local bodies Municipal budget decisions — such as infrastructure spending or service levels — directly influence the mill rate required to generate revenue. If assessments rise faster than the municipal budget, mill rates can stay stable or even decrease; if budgets grow faster than total assessed value, mill rates must increase. A municipality’s tax strategy often reflects local priorities and spending choices. Greater Victoria Municipal Property Tax Rates: A Snapshot Not all municipalities in Greater Victoria tax at the same rate. Based on available comparative data: Tax Rate Rankings (2022–2024 era) Lower tax rate municipalities: North Saanich generally sits near the lower end of regional property tax rates. View Royal often has lower mill rates compared with urban centres. Mid-range: Colwood and Langford in the Westshore tend to have moderate local municipal tax rates, but totals depend on other levies and assessment levels. Higher tax rate municipalities: Victoria and Central Saanich have among the higher municipal property tax rates within the region. Saanich typically shows a comparatively high effective tax burden. Differences matter: in a sample compiled by a brokerage, a $1 million home in Victoria would yield roughly $174 more in taxes than the same value home in Saanich, and a home in Colwood would pay about $645 more than in View Royal — purely based on rate spreads. (Note: precise current rates change annually with budgets and assessments. Always check municipal tax rate bylaws or use online tax calculators for exact figures for a given year.) Recent Trends: Rate Increases & Budget Pressures Municipalities across Greater Victoria have grappled with tax increases over recent years, driven by rising costs for core services, infrastructure renewals, and public safety: Saanich approved property tax increases near 8% in 2025, adding hundreds of dollars to the average homeowner bill. Langford has proposed significant tax hikes in multi-year financial plans to support rapid growth and expanding service demand. Regional increases by the Capital Regional District (CRD) also factor into total bills, with projected increases varying across municipalities depending on the services used (e.g., 4.1% for Victoria vs 7.7% for Langford for CRD requisitions in 2025). These upward pressures mean that even if a municipality historically had a lower tax rate, the year-to-year changes can shift relative burden across communities. Why These Differences Matter for Buyers 1. Annual Carrying Cost If you’re budgeting for homeownership, property taxes are a predictable recurring cost tied directly to your assessment and municipal priorities. A difference of a few hundred to a few thousand dollars annually can impact: Mortgage affordability Monthly cash flow Long-term cost projections for investment or retirement planning 2. Comparing Similar Homes Across Municipalities Two homes with equal market value — one in Saanich and one in Langford or Colwood — could result in: Different quarterly tax bills Different services received for that tax dollar (e.g., recreation, policing, parks) This can be a tiebreaker for buyers evaluating multiple locations in the region. 3. Growth and Future Tax Outlook Municipalities at different stages of development (e.g., fast-growing Langford vs more established Saanich or Victoria) may adopt differing strategies on whether to keep taxes low for growth incentives or invest in services and infrastructure. Howard P., 5-Star Review, via Google “Cal and Scott Faber are authentic and trustworthy and give it to you straight up. They take the time and the attention to learn about your needs and then find the home that fits them. Our experience with Cal and Scott Faber was exceptional. They didn't just provide great service, they demonstrated a genuine concern for our best interests, making us feel truly valued. They will do their best to find the home that fits your lifestyle and needs. I heartily recommend Cal and Scott.” 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.”

Pets play a bigger role in homebuying than ever, especially in pet-friendly communities like Victoria, BC. In 2026, many buyers are no longer shopping just for themselves. They are also prioritizing the needs of their dogs, cats, and other companions when choosing where and what to buy. With pet ownership remaining high across Canada, homes that support a pet-friendly lifestyle continue to stand out in a balanced market. From neighbourhood selection to home features, pets are shaping buyer decisions in meaningful ways. Why Pets Matter More to Buyers Today For many households, pets are family. Buyers are increasingly willing to pass on otherwise ideal homes if they do not work for their animals. This shift has influenced everything from location choices to floor plans, particularly in Greater Victoria, where access to outdoor space is highly valued. In 2026, buyers are taking advantage of higher inventory levels in areas like the Westshore to be more selective. That often means holding out for homes that offer better layouts, outdoor access, or nearby trails that support an active lifestyle for both people and pets. Neighbourhood Choices Driven by Pet Needs Location is one of the biggest decision points for pet owners. Buyers often look for neighbourhoods with nearby walking trails, parks, and green space. In Victoria, access to areas like the Galloping Goose Trail, Beacon Hill Park, and local dog parks can heavily influence where buyers focus their search. Strata and HOA rules also play a major role. Restrictions on pet size, number, or breed can be deal-breakers, particularly for condo and townhome buyers. As a result, some pet owners gravitate toward freehold homes or newer developments with more flexible pet policies. Home Features Pet Owners Prioritize Pets often push buyers toward homes with more functional space. Common must-haves include fenced yards, easy outdoor access, and durable flooring that can handle wear and tear. Mudrooms, lower-level entries, and layouts that allow pets to move easily through the home are also appealing. In markets like Saanich, Langford, and Oak Bay, homes with usable yards or proximity to parks tend to attract strong interest from pet owners. Even smaller homes can appeal if the layout works well and outdoor amenities are close by. Budget and Long-Term Planning Pets also influence budgeting decisions. Buyers may factor in ongoing pet-related expenses when determining their comfort level with monthly payments. In a buyer-friendly 2026 market, this can work to their advantage, allowing more room to negotiate on homes that already meet their needs rather than budgeting for renovations later. That said, buyers still remain cautious. Signs of past pet damage can raise concerns, making inspections especially important for both pet owners and non-pet owners alike. Tips for Buying a Home With Pets in Mind If pets are part of your household, start by identifying your non-negotiables, whether that is yard space, trail access, or flexible pet rules. Work with a local agent who understands which neighbourhoods and property types tend to be more pet-friendly. Always review strata bylaws carefully and include inspections to check for potential issues. Pets are no longer an afterthought in the homebuying process. In Victoria’s 2026 market, aligning your home search with your pet’s needs can make a significant difference in long-term comfort and satisfaction. Ready to find a home that works for you and your pet? Contact us to discuss pet-friendly options and how to tailor your search across Greater Victoria.   Nicholas D., 5-Star Review, via Google “Scott is an awesome realtor and real estate advisor. He got me all the information I needed incredibly quick and helped me make an informed buying decision. Couldn’t have done it without him and 10/10 will be recommending him to my friends and family! There are thousands of realtors on the island, but Scott and his team are by far the best” 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.”    

Buyer’s remorse is a common concern for homebuyers, especially in a market like Victoria, BC where prices remain high even in a balanced 2026 environment. Learning how to avoid buyer’s remorse in Victoria, BC starts with preparation, realistic expectations, and the right guidance. With more inventory available across the Westshore, Oak Bay, and Saanich, buyers now have the opportunity to make confident, well-considered decisions. Get Clear on Your Budget Before You Shop Financial stress is one of the biggest causes of buyer’s remorse. A mortgage pre-approval helps define your true price range and accounts for the stress test. It also locks in your rate for up to 120 days. To stay comfortable long-term: Shop 10 to 20 percent below your maximum approval Budget 1 to 4 percent of the home’s value annually for maintenance Plan for closing costs, which typically run 1.5 to 4 percent in Victoria This buffer gives you flexibility and peace of mind after possession day. Separate Must-Haves From Nice-to-Haves Emotion can creep in quickly during showings. Creating a clear list keeps decisions grounded. Focus on: Bedrooms and layout that fit your lifestyle Commute times and access to schools or transit Outdoor space, storage, or work-from-home needs Features like high-end finishes are appealing, but they should not outweigh long-term functionality. Research the Neighbourhood, Not Just the House Even a great home can lead to regret if the location does not fit your lifestyle. Visit the neighbourhood at different times of day and on weekends. Pay attention to noise, traffic, parking, and overall activity. In Victoria, each area offers a different feel. Fairfield, Langford, Colwood, and Oak Bay all appeal to different buyers. Understanding that difference helps you avoid buyer’s remorse after you move in. Never Skip the Inspection or Rush the Process A home inspection is essential, even in a competitive market. It can uncover issues that affect both your budget and your comfort in the home. Take time to: View the property more than once Ask detailed questions Bring in specialists for older or character homes when needed Rushing often leads to overlooked details and later regret. Work With Experienced Local Professionals A knowledgeable local REALTOR helps you spot red flags, understand value, and negotiate effectively. A good mortgage broker and real estate lawyer also play a critical role in reducing surprises. In a buyer-friendly 2026 market, you can afford to slow down and compare options. If something does not feel right, it is okay to walk away. Quick Tips to Avoid Buyer’s Remorse Get pre-approved early and respect your budget Prioritize needs over cosmetic upgrades Research neighbourhoods thoroughly Always complete a home inspection Take your time and trust the process Avoiding buyer’s remorse in Victoria, BC comes down to clarity, patience, and the right advice. Ready to buy with confidence? Contact us to discuss how these strategies can support your home search and help you feel good about your decision long after you move in.   Wilson, 5-Star Review, via Google “Amazing people there! They will help you through the entire process and will always make you feel like family. For those first time home buyers, don't be intimidated entering the market because they will explain every process and guide you through.” 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.”  

The 2026 Greater Victoria real estate market entered the year in a noticeably more balanced position. Inventory is higher year-over-year, sales remain seasonally soft, and prices are largely stable, with variation by neighbourhood and property type. Buyers have real choice again. Sellers who price realistically are still seeing solid outcomes. January 2026 Snapshot (VREB) Sales: 339 properties sold region-wide 19.7% fewer than January 2025 7.6% fewer than December 2025, consistent with winter trends Active Listings: 2,624 at month-end Up 3.1% from December Up 9.6% year-over-year Market Balance: Sitting on the line between balanced and buyer-friendly, depending on the neighbourhood Benchmark Prices at a Glance Victoria Core Single-family: $1,265,500 Down 2.5% year-over-year Slight uptick from December, signalling price stability Condos: $537,800 Down 1.5% year-over-year The most stable segment in the market Westshore Single-family benchmarks are not broken out monthly Langford, Colwood, and View Royal posted modest gains through 2025 Relative affordability and newer housing stock continue to support demand Saanich (East & West) Generally stable pricing Family-oriented neighbourhoods like Gordon Head, Broadmead, and Royal Oak are holding value well Data source: VREB MLS® Home Price Index, February 2026 release What This Means So Far The broader trend from 2025 into early 2026 is clear. Core Victoria single-family homes softened modestly over the past year. The Westshore posted small gains, supported by family demand and newer inventory. Saanich continues to act as the steady middle ground. What Buyers Can Expect in 2026 More selection, especially early in the yearInventory levels are the highest seen in several years. Expect more choice and slightly longer days on market across most areas. Stable pricing with room to negotiateCore Victoria single-family benchmarks are holding in the $1.25M to $1.3M range. The Westshore continues to offer the best value for buyers seeking detached homes. Condos remain buyer-friendlyCondos are still the most accessible entry point for first-time buyers and downsizers, with stable pricing and ample selection. Westshore continues to lead for growth and valueLangford, Colwood, View Royal, Westhills, and Royal Bay offer newer builds, family amenities, and long-term upside. Saanich delivers lifestyle and schoolsNeighbourhoods like Gordon Head, Cadboro Bay, Broadmead, and Royal Oak continue to command premiums. Inventory is tighter, so well-prepared homes still sell quickly when priced correctly. Rates and external factors matter, but less dramaticallyMortgage rate stability or modest Bank of Canada cuts would support confidence. The market has returned to normal seasonal patterns rather than urgency-driven behaviour. Bottom Line for 2026 The 2026 Greater Victoria real estate market is healthy and sustainable. Buyers have more choice than at any point since 2021, prices are not falling sharply, and demand remains steady in well-located neighbourhoods. If you are planning to buy this year, the first half of 2026 offers one of the strongest windows we have seen in recent years, particularly in the Westshore and select areas of Saanich. If you would like to discuss your options or explore opportunities in your target neighbourhood, feel free to reach out anytime. Noel A., 5-Star Review, via Google “My partner and I had a great experience with Scott and the Fabers with our first home purchase. Scott answered all questions we had and helped guide us to make the right purchase that fit our lifestyle. Would highly recommend the Fabers!” 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.”

Detached homes in Greater Victoria continue to offer stability and long-term value, even as interest rates, inventory, and buyer behaviour shift. Strong demand combined with limited supply keeps single-family homes attractive for both homeowners and investors. Limited Supply Supports Long-Term Value Geographic constraints, including the ocean, mountains, and protected green space, limit new detached home construction across Greater Victoria. Planning policies that prioritize higher-density housing further restrict supply, particularly in established areas such as Saanich, Oak Bay, View Royal, and parts of the Westshore. This ongoing scarcity supports long-term price strength. Consistent Buyer Demand Across Market Cycles Detached homes appeal to a wide range of buyers, including families, move-up buyers, downsizers seeking privacy, and long-term investors. Access to outdoor recreation, reputable schools, and established amenities keeps demand steady, helping reduce market volatility compared to other property types. Stronger Resale and Rental Performance Single-family homes typically offer greater resale flexibility and are less impacted by strata rules or special assessments. As rentals, they often attract stable, long-term tenants and command higher rents, with demand frequently exceeding supply in well-located neighbourhoods. Adaptability and Future Potential Detached homes offer flexibility to renovate, add secondary suites where permitted, or improve energy efficiency. Some properties may also benefit from future redevelopment or gentle density opportunities, adding long-term upside. A Hedge Against Market Uncertainty While no investment is risk-free, detached homes in Greater Victoria have historically demonstrated resilience. Their combination of land value, limited supply, and consistent demand makes them one of the most reliable segments in the local real estate market. Lisa Shortt, 5-Star Review, via Google “Scott went above and beyond for us in both finding our dream home and selling our condo. He listened to us and provided professional advice for each circumstance. Would highly recommend!” 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 “Building Lasting Relationships, One Home at a Time.”