Prices are on the rise again. Increased demand will keep pushing home prices higher in major markets like Montreal, Toronto, Vancouver and Victoria through 2020. The flat prices and mild decline we witnessed in the first half of 2019 was a blip in the steadily climb in prices over the decades. Investors looking for value will set their sights on less densely populated cities like Victoria.
BCREA is predicting residential housing price growth in most areas of the province will be modest at less than 3%. However, Vancouver Island, the Fraser Valley, and BC Northern show potential for greater increases. Victoria is expected to see an improvement of more than 5%.
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