First off, it is interesting to see how much bloom has come off of the Victoria Real Estate market. I happen to sit on the Property Assessment Review Panel #611 - Greater Victoria residential and there are a lot of people coming forward showing they bought their house for less than the assessment on July 1 2006.
There are clearly houses selling for more than assessment and neighbourhoods that still have rising values, but the overall market is stalling out. There are more sellers than buyers at the moment and the average time a house is on the market has dramatically increased. I would be unsurprised if we saw a 15% to 30% drop in house prices between now and the fall of 2008.
Meanwhile, construction seems to be slowing down. It might be possible to get renos done for less than in the past few years
Tuesday, February 27, 2007
More amalgamation
Long time and no posts here.
I was interested in hearing that the News Group chain of papers will be amalgamating the Esquimalt and Victoria News papers.
I am not sure that this will make anything better for local news, I just wish that this was happening with the actual local governments. It still astounds me that we have 13 municipal governments, 3 school districts and half a dozen First Nations in a region of only 310 000 people. On what level does this make any sense?
I was interested in hearing that the News Group chain of papers will be amalgamating the Esquimalt and Victoria News papers.
I am not sure that this will make anything better for local news, I just wish that this was happening with the actual local governments. It still astounds me that we have 13 municipal governments, 3 school districts and half a dozen First Nations in a region of only 310 000 people. On what level does this make any sense?
Subscribe to:
Posts (Atom)