Posts Tagged ‘Victoria housing market’

The Victoria rental market continues to play a major role in shaping real estate conditions across Greater Victoria. In 2026, limited rental supply, steady population growth, and affordability pressures are influencing buyer behaviour, pricing, and long-term market trends. Understanding the Victoria rental market helps both buyers and sellers make more informed decisions. Strong Rental Demand Supports Buyer Activity Rental demand in Victoria remains high, driven by job growth, students, and limited purpose-built rental inventory. As a result, rents continue to sit at historically elevated levels. For many renters, rising monthly payments make ownership more attractive, even in a balanced sales market. This dynamic supports ongoing demand for entry-level condos, townhomes, and smaller single-family homes. Impact on First-Time Buyers The Victoria rental market often accelerates first-time buyer decisions. High rents make saving challenging, yet comparable mortgage payments can appear more manageable Stable inventory in 2026 provides buyers with more choice and negotiating room Condos and townhomes remain the primary entry point for renters transitioning to ownership As rental costs rise, ownership becomes less about timing the market and more about long-term stability. Influence on Investors and Secondary Suites Investors continue to view Victoria real estate as a long-term hold, largely due to rental scarcity. Strong demand supports consistent occupancy Secondary suites and garden suites add value to single-family homes Purpose-built rental constraints keep pressure on resale housing While regulatory changes affect short-term rentals, long-term rental demand remains a key support for property values. Condo Market Effects The Victoria rental market has a direct impact on the condo segment. One- and two-bedroom units attract both renters and buyers, especially near employment centres, transit corridors, and post-secondary institutions. In 2026, balanced inventory has reduced bidding pressure, yet rental fundamentals continue to support pricing. Supply Constraints Shape Long-Term Trends Although new rental projects are underway, supply growth continues to lag demand. Zoning limitations, construction costs, and approval timelines slow meaningful expansion. As a result, rental pressure reinforces long-term housing demand across Greater Victoria. This dynamic supports price stability, even during periods of slower sales activity. What This Means for Sellers Sellers benefit from rental-driven demand in several ways: Strong interest in entry-level and income-generating properties Continued appeal of homes with suites or flexible layouts Stable buyer confidence despite market normalization Pricing still matters, but underlying demand remains intact. Final Thoughts The Victoria rental market remains a foundational driver of real estate activity in 2026. Limited supply, high rents, and steady demand continue to influence buyer decisions and support long-term values. For buyers, sellers, and investors alike, understanding rental market conditions provides valuable context when navigating Greater Victoria real estate. Lorraine P., 5-Star Review, via Google “I would not dream of ever using a realtor other than Cal. Apart from the fact that he is was exceptionally knowledgable and resourceful, he was also honest, truthful and always acted in my best interest while at the same time treating all parties with dignity and respect.”

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.”

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.”

January can be an advantageous time for buyers in Victoria. The market often slows slightly after the holiday season, meaning there may be fewer competing offers. This can give buyers more negotiating power, especially on homes that have been on the market for several months. Inventory can be limited in some segments, but serious sellers who list in January are often motivated to move quickly, which can create opportunities for savvy buyers. Selling in January can also work, but it has pros and cons. On the positive side, homes listed early in the year can capture buyers who are ready to move quickly and want to start the year settled. There is less competition from other sellers compared to spring and summer, which can help your home stand out. On the downside, buyer traffic can be slower due to winter weather and holiday recovery, so timing and pricing strategy are important. Seasonal Considerations in Victoria Victoria’s coastal climate is milder than much of Canada, so winter weather is generally less of a barrier for showings and open houses. That said, shorter daylight hours and rainy days can impact curb appeal, so ensuring your home is well-lit and presentable is crucial. Key Takeaway January can be a strategic month for both buyers and sellers in Victoria, especially when working with a knowledgeable real estate professional who understands local market trends. Buyers may find less competition and motivated sellers, while sellers who price correctly can attract serious buyers even in the slower winter season. Debbie N., 5-Star Review, via Google “From start to finish, Scott and Cal were amazing to work with. I hadn't moved in nearly 22 years and going from a house to a condo was a very difficult decision, but they were amazingly patient and responsive to my needs. This team doesn't just say that they care, they actually do. I couldn't have done this without them. I would recommend them to anyone. You will be in the best hands. Thank you Faber Group!!!. ” 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.”

Buying a tenanted property in Victoria, BC comes with unique opportunities and challenges. Unlike vacant homes, properties with tenants already in place require careful consideration of existing leases, tenant rights, and local regulations. For investors or buyers looking to occupy the property in the future, understanding these factors is critical to avoid legal complications, protect your investment, and make an informed decision in today’s competitive Victoria real estate market. Tenancy Rules Apply to the New Owner When you purchase a tenanted property in Victoria BC, the tenancy does not automatically end. Under British Columbia tenancy rules, the buyer assumes the existing tenancy, including the current rent, terms, and conditions. This means you step into the role of landlord immediately upon completion. Understanding this from the outset is critical, especially if you plan to move into the property or make changes after purchase. Ending a Tenancy Has Specific Requirements A tenancy can only be ended for permitted reasons and with proper notice. In many cases, a new owner may only end a tenancy if they or an immediate family member intend to occupy the property. Specific notice periods and documentation are required, and the rules must be followed carefully. Buyers should understand that possession timelines can be longer than expected when purchasing a tenanted home. Rent May Be Below Market Value Many tenanted properties have rents that are below current market rates, particularly if the tenant has been in place for several years. Rent increases are regulated in British Columbia, so buyers should not assume they can adjust rent to market levels right away. Evaluating the existing rent against current expenses helps buyers determine whether the property aligns with their financial goals. Access and Showings Are Regulated Tenant rights include rules around access to the property. Proper notice must be given for showings, inspections, or repairs, and tenants have the right to quiet enjoyment. This can affect how easily a buyer can view the property before purchase. From a practical standpoint, this can also influence how the property is marketed and presented. Due Diligence Is Especially Important When buying a tenanted property, buyers should review the tenancy agreement, rent history, and any communication related to the tenancy. Understanding who pays utilities, how maintenance is handled, and whether there are any outstanding disputes is essential. This due diligence helps avoid unexpected issues after possession. Planning Ahead Makes a Difference Buying a tenanted property can be a strong long term opportunity, but it requires careful planning. Whether the goal is investment, future personal use, or both, understanding local tenancy regulations and timelines is key. Working with professionals who understand both real estate and tenancy rules helps ensure a smooth and compliant transaction in Victoria’s market.   Marc E., 5-Star Review, via Google “Scott is focused on providing his clients with a long-term positive experience, and he truly acts as a trusted advisor throughout the process. It's important to have someone you can trust for this kind of investment, and Scott has certainly earned my trust. For me, it's important that a realtor fits my values, is always responsive, professional, and goes above and beyond to ensure all my needs are met. I highly recommend Scott and Faber Real Estate for all your real estate needs.” 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.”

Knowing when to list your home can make a meaningful difference in buyer interest, days on market, and final sale price. While you cannot control the broader economy, understanding local trends helps you position your home at the right moment. Watch the Key Market Indicators Several indicators can help you decide whether the market is leaning toward sellers, buyers, or a more balanced pace. Inventory levels. Low inventory usually leads to stronger demand and quicker sales. Rising inventory can signal more competition.Days on market. If homes in your neighbourhood are selling quickly, buyers are active and motivated.Sale to list ratio. Homes selling close to or above asking price reflect strong buyer confidence.Seasonal patterns. Spring and early fall often attract the highest number of buyers, but motivated buyers stay active year round. Understand Buyer Behaviour Buyer activity shifts throughout the year based on affordability, interest rates, and life changes. When buyers have more confidence, open houses are busier, showing activity increases, and well prepared homes receive stronger offers. When confidence shifts, buyers become more selective and negotiations take longer. Assess Your Personal Readiness The right time to list is not only about the market. It is also about your own timing. Consider your next move, your financing, and any preparations needed to present your home well. A polished, move in ready home performs better in every market. Work With Real Time Data The most accurate picture comes from month to month data in your specific neighbourhood. A detailed comparative market analysis can show how your property fits within recent sales, current competition, and pricing patterns. Positioning Your Home for the Perfect Launch Once the timing is right, preparation is essential. Thoughtful staging, professional marketing, and strategic pricing help your listing stand out. Even in slower markets, well presented homes attract the strongest offers. 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 “Building Lasting Relationships, One Home at a Time.”

Langford vs. Colwood: Which West Shore Community Should You Choose? Choosing where to live in Greater Victoria isn’t just about picking a location, it’s about understanding the long-term trajectory of that community, how it aligns with your lifestyle, and how your investment will perform over time. This choice becomes especially interesting in the West Shore, where Langford and Colwood sit side by side but offer very different opportunities. As a team that studies this market daily and advises clients at every stage of their real estate journey, we can tell you this: There is no one-size-fits-all answer, but there is a smart answer for you. Langford: Dynamic, Ambitious, and Rapidly Evolving If Greater Victoria had a “future skyline,” it would be Langford. This is the region’s fastest-growing area, and it’s not by accident. Langford’s city planning is bold, aggressive, and intentionally growth-focused. The result? An environment where development is encouraged, housing variety is immense, and amenities are expanding at lightning speed. What Langford Offers: A huge variety of housing: condos, townhomes, duplexes, modern single-family homes, and estate-style living on Bear Mountain. Newer infrastructure: schools, parks, sports facilities, and commercial hubs built with today’s families in mind. A younger demographic that brings energy, innovation, and demand for modern conveniences. Ongoing investment potential as density increases and demand continues year after year. Langford is ideal for people who want to be at the center of growth and buyers who understand that where a city is going matters more than where it has been. Colwood: Scenic, Established, and Quietly Prestigious Colwood, on the other hand, offers a completely different tone. It’s more mature, more settled, and more focused on preserving quality of life than pushing rapid development. With beaches, forested neighbourhoods, and iconic landmarks like Hatley Castle, Colwood has a character that feels both timeless and grounded. Why Colwood Appeals: Stable, high homeownership: neighbourhoods where people put down roots. Spacious suburban living with larger lots and quieter streets. A strong family-friendly identity, ideal for long-term planning. Beautiful natural environments, including trails, waterfront access, and green space. Colwood is not trying to be the next big city, it’s trying to be an exceptional place to live. For many buyers, that’s exactly what they want. The Commute Reality Let’s be honest: if you’re commuting downtown daily, the “Colwood Crawl” is real. Langford and Colwood both feel the impact, but Langford’s infrastructure investments and more central positioning within the West Shore give it a slight edge for mobility and access. If you work from home or don’t commute often, both cities are great options. If daily commuting is part of your life, the slight differences may matter. Lifestyle Comparison: Which City Fits Your Personality? Think of it like this: Choose Langford if you want: Modern amenities Rapid growth and rising long-term value A mix of housing types A vibrant, youthful energy Walkable urban-style pockets blended with nature Choose Colwood if you want: Peaceful, established neighbourhoods Scenic beauty front and center More space and privacy Stability and long-term community A slower, more relaxed pace Investment Outlook From an investment perspective, this is where expertise truly matters. Langford offers strong appreciation potential due to ongoing development, increasing density, and continuous buyer demand. Colwood offers long-term stability, strong community appeal, and the kind of neighbourhood consistency that supports sustained property value. If you’re thinking like an investor, Langford is the growth play.If you’re thinking like a long-term resident, Colwood is the lifestyle play. Both are smart, but the right one depends on your goals. The Best Choice Is the One That Matches Your Future Moving isn’t just a financial decision, it’s a lifestyle decision. The smartest choice happens when you understand not only what a community is today, but where it’s going tomorrow. That’s where we come in. If you’re deciding between Langford and Colwood, we can help you read the trends, understand the neighbourhoods, and choose the location that positions you for the life and investment you want. When you’re ready, we’ll show you exactly where your next smart move should be. 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."