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

Manak calls Const. Ian Jordan fallen hero

Late Victoria cop mourned at funeral by officers from numerous local, out-of-town jurisdictions

Residents call on Colwood to take action against speedsters near Esquimalt Lagoon

Residents say people often to 10 to 40 km/hr over the posted speed limit

Annual cruise honours West Shore RCMP Const. Sarah Beckett

Sarah Beckett Memorial Cruise takes place Sunday, April 22

Complaint filed against B.C. naturopath who treated boy with rabid dog saliva

BC Naturopathic Association questions Dr. Anke Zimmermann’s conduct on recent treatments

B.C. government invests $1.9 billion in community housing

14,000 mixed-income affordable units to be built with local housing providers, advocates

Students learn fire, earthquake and general safety in Metchosin

More than 1,000 students go through annual Fire Safety Expo

Spring Home Show this weekend in Colwood

West Shore Parks and Recreation will be transformed to showcase everything home related

Countdown is on to the 2018 B.C. Summer Games

Cowichan Valley hosts on July 19-22

Driving Change: A B.C. man’s charitable trip across Canada

A Kelowna man, his bus, and his mission for positive change across our country

Case of teacher secretly filming teens reaches top court

Acquittal of teacher, Ryan Jarvis, who secretly videoed teens ‘dangerous,’ top court told

Why a 14-year-old will lead the charge at annual marijuana protest on the Hill

Marijuana enthusiasts have long been circling April 20 on their calendars as annual day of cannabis

B.C. communities await marine spill compensation years after incidents

The government maintains a Ship Source Oil Pollution Fund to compensate Canadians

RCMP say too early to know what happened in Broncos crash

RCMP Assistant Commissioner Curtis Zablocki said collission very complex

Conservative MP wants feds to close loophole for illegal border crossers

Immigration advocates call on government to suspend Canada-U.S. Safe Third Country Agreement

Most Read