Real Estate Victoria
Looking for real estate in Victoria? You’re in luck! Every year, a wonderful report entitled Victoria’s Vital Signs® is released with one particular section detailing real estate in Victoria (you can download the full Victoria Vital Signs 2013 PDF from their website at VictoriaFoundation.ca). The report is a research and survey account that measures the vitality of the Greater Victoria region by highlighting relevant statistics, identifying significant trends, and assigning grades to subject areas critical to quality of life.
One of the areas of the report is the 2013 housing market, which includes condos for sale and houses for sale in Victoria, BC. This portion of the report focuses on areas such as the cost of rent in Victoria, the price of a single family home in Victoria, and the number of homeless people who were assisted in transitioning from homelessness to affordable housing. The report provides very valuable information for anyone looking to purchase real estate in Victoria.
If you’re looking for more information about the types of real estate you could buy, check out our Victoria BC townhouses page which gets into what it’s like to work in this city as well as a little bit about the history of Victoria.
Why Choose Victoria?
The bustling capital city of British Columbia, Canada, Victoria draws in visitors and people searching for the perfect place to call home from all over the world. This peaceful city is set along the southern tip of Vancouver Island, embraced by the beautiful Pacific Coast. Victoria is known as the “City of Gardens” because its consistent climate brings about blooming flowers even during the winter.
There are plenty of reasons why Victoria remains as one of the most desirable places to live in British Columbia. A considerable portion of the population is made up of students because prestigious educational institutions such as the University of Victoria and Royal Roads University are located in the capital city.
Victoria has more sunny days than the nearby areas, allowing its residents to enjoy the scenic surroundings and plenty of outdoor activities. The cost of living is also reasonable and the city’s metropolitan vibe offers countless forms of recreation. The wide variety of real estate also makes the city a prime choice for all kinds of people. Whether you are looking for houses for sale or condos for sale, a real estate agent will be able to find ample options for you.
Real Estate Victoria – 2013 Rental Costs
In April 2013, the average rent for a private apartment was $894, up from $874 in April 2012. All sizes of apartments increased from 2012 to 2013. Given the minimum wage of $10.25, a single individual in Greater Victoria would need to spend around 44% of their income to rent a bachelor apartment, which was $686 in April 2013.
Real Estate Victoria - Average Cost of a Single Family Home
The median price of a single-family home in Greater Victoria in May 2013 was $524,896, down from $534,250 in May 2012 and $553,000 in May 2011.
As you can see from the report, it’s better to be a real estate owner in Victoria, BC than it is to be a real estate renter. The average cost for renting an apartment has gone up another $20 over last year but the cost of buying a home in Victoria, BC has gone down year after year.
If you are interested in condos and houses for sale in the city, Victoria BC Real Estate Listings can help you find all kinds of properties. Click here to contact us if you are thinking about buying, selling, or investing in real estate.