Despite lower demand year-over-year benchmark prices of single-family homes continue to rise board-wide, up around nine per cent from January 2018. Price increases in individual markets ranged from five per cent in Nanaimo to 17 per cent in Port Alberni. Although Vancouver Island has felt the effects of the mortgage stress test. Also referred as Guideline B-20. The toll on single-family housing sales throughout the province in January dropped by 28 per cent from one year ago, albeit they did rise by 23 per cent from December 2018. General demand is lower while potential Buyers adjust however there still is very little supply in active price points keeping the markets somewhat balanced.
Nanaimo residents have long awaited an alternate option of getting to the Mainland in an affordable and timely way. The dream of a high-speed commuter passenger ferry service between downtown Nanaimo and a berth at the SeaBus terminal at the Waterfront Station in downtown Vancouver is finally looking like a reality!
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