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Victoria Market Update - Dec 1, 2016

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Victoria Market Update – Dec 1, 2016

The Victoria market remains very strong due to steady employment and skilled newcomers to the area.  Residential housing growth will be expanding in the coming years, mostly condominiums (which no doubt will add rental units) and purpose built rental buildings.  The focus of the new housing is either close to the downtown area (on vacant or under-utilized property) and the Westshore.

The Westshore area (View Royal, Colwood and Langford) is seeing their first wave of purpose built rentals – and indicators are strong.  The Westshore will be an area to watch.

Rental Rates:

DOWNTOWN – 1 BED $1,500.00; 2 BED $2,200.00

SUBURBAN – 1 BED $1,100.00; 2 BED $1,500.00

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Posted by:
Derek Kaufman

Posted on:
December 2nd, 2016

Posted in: