Big drop in the Average and flat median YOY. Looks the opposite of what is happening in Vancouver, where only the very wealthy are still buying. It seems like in Victoria lower priced housing is still selling:
October 2011
All hail the bullish reversal
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Victoria seems strangely buoyant, I was hearing inner-city dwellings were selling way better than outskirts (Sooke, Saanich, etc.).
ReplyDeleteMaybe there's more to high prices than "HAM"!
Maybe refugees from vancouver. However I would call a flat YOY median and a 8% drop in average YOY strong, quite the contrary.
ReplyDeleteREBGV press release here:
ReplyDeletehttp://tinyurl.com/3vhz2g8
No real surprises
fish10 said...
ReplyDeleteFVREB
http://tinyurl.com/3ktu3gq
Many areas very negative YOY in multiple categories.
MOI =8.8
Look at Abbotsford, Surrey Cloverdale, Mission.
Anywhere where there is a whiff of HAM interest eg South Surrey/White Rock is still flying.
jesse and fish, re: 3M for a lot on Cambie
ReplyDeleteJim Green is for hire to solve issues with City Hall. If Jim won't listen, fire him. And hire someone even higher in the food chain.
Just like at Little Mountains. Many homes to little guys in Vancouver. Now it's still boarded up for 2 yr. Very sad. The Developer will wait until the get the density. That is what Sue Anton is for.
4 lots can build 30 units. Only $400k/unit for the land. Not bad.
"The Developer will wait until the get the density. "
ReplyDeleteYou mean you want Anton to reduce CAC for this developer so they can make a profit? Whatever. There are tons of lots the next street over just waiting to be built up like mad.
There are lots of great taxation and zoning/code schemes that will get tons of density in very little time. It would stop speculation like this in its tracks. And nobody's talking about it.
The walk to skytrain is much closer from 39th and Alberta than it is for any of those lots. Rip down and redevelop the stuff beside the stations, don't make people walk the extra 1/2 mile up Cambie.
But Anton/(Robertson?) won't do that: lots of well-kept lawns!
Agreed. Unless someone is on the take.
ReplyDeleteTake a guess on why Jim Green is leaving the Little Mountains Development.
ReplyDeleteIt is all about density, and not paying for the density changes.
With due respect, what do you expect when all those developers from the land of under table 20%-30% turn up at your door steps?
ReplyDeleteVictoria sales very slow for the first week of Nov and inventory very high, if this continues..big IF..we could see a eye-popping MOI by month's end.
ReplyDelete