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Builders looking for ways to reduce obstacles

“Prices will grow, but not as fast next year or the year after,” she said, noting prices in the resale market are expected to increase by about five per cent in 2022 and 2023. But she warned there is a lot of uncertainty when it comes to predicting what’s going to happen in the mid- and long term, as housing demand is driven in part by population growth, which is expected to resume its pre-­pandemic pace in 2022 as ­immunization efforts progress. CMHC suggested the local job market w...

Article content Metro Vancouver housing prices will continue to rise after the COVID-19 pandemic, creating a drag on sales growth as homebuyers’ budgets shrink, according to the Canada Mortgage Housing Corp.’s spring outlook Thursday. CMHC senior analyst Braden Batch predicted that Metro’s housing market will face the same housing affordability and supply-shortage challenges that existed pre-pandemic. We apologize, but this video has failed to load. Try refreshing your browser, or Higher...

‘It is desperate,” Violet Hayes, executive director of the Island Crisis Care Society, said Tuesday. “It’s really challenging. We regularly get calls from people that are asking us do we have any leads. It’s just almost impossible [for] people on fixed incomes. [It is] so hard to find a place.” The market is getting tighter as people move to Nanaimo, she said. The city estimated its 2019 population at 98,957 and anticipates reaching 106,254 by 2024. The vacancy rate in Nanaimo, ...

Homebuilding in Greater Victoria isn’t taking much of a break during the pandemic, according to year-end figures released Monday by Canada Mortgage and Housing Corporation. The national housing . . .

Homebuilding in Greater Victoria isn’t taking much of a break during the pandemic, according to year-end figures released Monday by Canada Mortgage and Housing Corporation. The national housing . . .

  VICTORIA -- The latest report from the Canada Mortgage and Housing Corporation (CMHC) shows that despite the pandemic, the Victoria real estate market remains hot. The report for the third quarter of 2020 indicates that sales in the region have been trending upwards since the height of the COVID-19 lockdown in March and April. Reported sales of single-family detached homes from July to September surpassed sales in the same period in 2019 and 2018. “The third quarter not only surpassed ...

Overvaluation occurs when house prices remain significantly above the levels warranted by personal disposable income and other demographic factors. CMHC market analyst ­Pershing Sun said the assessment’s multiple models show the actual prices paid for homes have surpassed the threshold of what the local economy can theoretically sustain. The result is that Victoria is moderately overvalued, which tips it into moderately vulnerable status. But the main takeaway from this quarter’s assess...