Victoria ranked fourth best B.C. city for real estate investment

Capital only Island city listed

Victoria is the fourth best B.C. city to invest in, according to a recent Real Estate Investment Network (REIN) report.

Surrey is ranked first in top cities to invest, but Victoria is the only city listed for the Island. The benchmark residential price has grown to $823,1000, the result of a yearly 10.9 per cent increase, prices steadily growing since 2013. Growing GDP, employment rates and population all factor into a continued rise, and technology, entrepreneurship, tourism, ocean and marine sectors, health care, government and post-secondary institutions all contribute to the local economy’s strength, according to the report.

RELATED: Greater Victoria real estate still strong despite summer dip

Downtown densification will level out average home prices.

B.C.’s market is in recovery, despite the perception of an ongoing boom, according to REIN. While there has been a steady growth in the province over the last few years, REIN says they expect this trend to change in 2018. There is expected to be a three-per-cent growth in GDP for 2017, but 1.8 per cent growth for next year.

lauren.boothby@vicnews.com

Just Posted

Resident charged $48,350 fine for poisoning large Oak Bay tree

The district says this amount represents the appraised value of the tree

BC Ferries not as full as reported due to ability to book consecutive sailings

Multiple reservation booking strategy artificially inflates BC Ferries “current conditions”

Island Health encourages sexual assault survivors to #TrustYourself

New social media campaign urges survivors of sexual assault to seek medical care

Very Good Butchers to appear on Dragons’ Den

Victoria-based vegan company will star in Nov. 29 episode

‘She’s charging. Oh God’: Mama grizzly runs at B.C. man armed with shotgun

People online were quick to question – and defend – a man’s decision to shoot a grizzly bear charging him on a Bella Coola front yard

Canada announces $20M fund for women entrepreneurs

New federal program will provide up to $100,000 for female business owners to grow their operations

Greater Victoria Crime Stoppers wanted list for the week of Oct. 23

Greater Victoria Crime Stoppers is seeking the public’s help in locating the… Continue reading

Vancouver Island man claims falling ice smashed his truck windshield

Man discovered volleyball-sized chunk ice on his truck Saturday, near Nanaimo, B.C.

B.C. veteran combats PTSD in the ring and on the farm

Cam Tetrault is a valuable contributor at Quesnel’s Two Rivers Boxing Club

Fast ferries from B.C. spotted in Egypt

Controversial aluminum BC Ferries vessels ’big white elephants covered in dust,’ eyewitness says

Canadian troops, families take shelter in hotel after Florida hurricane

Most of the Canadians were evacuated from the military base before Hurricane Michael

B.C. jury trial hears police-sting audio of man accused of killing girl, 12

Garry Handlen has pleaded not guilty to the first-degree murder of Monica Jack on May 6, 1978.

5 tips to keep trick-or-treaters safe this Halloween

BC Children’s Hospital has a few suggestions to keep Oct. 31 fun

Most Read