The government of British Columbia (B.C.) has taken steps to regulate the burgeoning short-term rental market through new legislation aiming to address the housing shortage in the region. Here’s a detailed exploration of the developments and their ramifications:
Nanaimo and Vancouver Island News and updates
Blog
Winterize Your Home in British Columbia: A Comprehensive Guide
While it’s true we haven’t even reached October’s doorstep, and it’s just the beginning of fall, as much as I’m not ready to talk about the winter season just yet, now’s the time to get on preparing our homes for the winter ahead.
Romantic Countryside-Inspired Homes
In a world that’s increasingly fast-paced and digitally driven, the yearning for tranquillity, simplicity, and a connection to nature has only grown stronger. This desire has led to a resurgence in the popularity of countryside-inspired homes, where the charm of rural living meets the comforts of modern design. One such manifestation is the Romantic Countryside Inspired Home – a blend of classic elegance, natural elements, and a touch of whimsy. In this article, we’ll delve into the captivating designs, popular colour palettes, and defining features of this delightful style.
Exploring the Cutting-Edge Technology of 3D Printed Homes
3D-printed houses are popping up all around the globe! Read on for information on the fascinating world of 3D printed homes, addressing common questions and shedding light on their potential impact on the future of housing.
July 2023 Nanaimo Market Update
In June of 2023 the Nanaimo real estate market was very similar to one year ago in the majority of categories. From last June to July, the Bank of Canada rate increases caused a dramatic decline in the amount of transactions in a monthly period. With less transactions happening we were thrown from a Seller’s to a Buyer’s market abruptly which caused decreases to the average home price, longer days on market and multiple offers became rarer. This continued through to the end of the year, and from the start of 2023 the Nanaimo real estate market has been making leaps towards a recovery.
Things to do on Vancouver Island This Summer
Welcome to our curated summer adventure itinerary of Vancouver Island, where we’ve got you covered whether you’re a local seeking new experience or a visitor looking to explore the island’s wonders. In this article, we’ve divided the island into three distinct sections: North, Central, and South. With this breakdown, you can get inspired and decide which area aligns with your interests and time availability, enabling you to begin research and plan your travel. Starting with parts of North Vancouver Island, to the central and then finishing with the South Island. Let the exploration begin!
Real Estate Market Report: May 2023 Overview Vancouver Island and Canada
As one of the leading real estate teams on Vancouver Island, we are committed to keeping our clients informed about the latest trends and statistics in the local market. In this article, we present an overview of Nanaimo, then a cross-section of the Vancouver Island Real Estate Board (VIREB) area’s performance, then a broader look at the Canadian Real Estate market touching on consumer confidence, interest rates and sales across Canada.
June 2023 Nanaimo Market Update
While July 2022 marked the start of declining real estate prices and transactions, the Nanaimo real estate market has been steadily recovering month over month, meaning all sectors of the Nanaimo real estate market have seen shorter days on market, sale prices closer (and sometimes over) the list price, and an increase to the average price comparing May to April of 2023. The month of May 2023 witnessed promising indicators that the market is getting back to where it was before the decline.
How to Grow a Herb Garden this Spring
Imagine stepping into your backyard or kitchen and harvesting fresh herbs bursting with fragrance and flavour. Creating your own herb garden brings the joys of gardening and culinary exploration together, offering a rewarding experience that elevates your dishes and enhances your well-being. In this blog, we’ll dive into the captivating world of herb gardening and share tips so you can have your own!
Smart Homes – The Integration of Technology & Real Estate
The rapid advancements in technology are continuously shaping our daily lives. One of the most significant impacts is the emergence of smart homes, which seamlessly integrate cutting-edge technology with real estate. Smart homes offer a plethora of benefits, from enhanced security and convenience to energy efficiency and cost savings. This article will explore the rise of smart homes, their key features, and the future of this technology-driven trend in the real estate industry.
Bridging the Gap: How the New Nanaimo-Vancouver Ferry Service is Connecting Communities
VIFC’s Hullo fast-ferry service is making waves in the transportation industry, connecting Nanaimo and Vancouver on a passenger-only ferry that will take you from downtown to downtown.
April 2023 Nanaimo Market Update
The Nanaimo real estate market saw a month over month decrease of 4.8% to the average single family home price from $793,790 to $763,134. While average price month over month can sometimes be an indicator of market direction, this statistic is limited not only by the inventory on that market during a period of time, but also by the transactions conducted during that same period. If the majority of homes sold in a period are at a higher price than the previous average looking only at the average price would indicate that home prices are on the rise even if comparable homes sold at a higher price in a different period where there were more lower priced transactions. In other words, the average house price is a very narrow field of view in looking at the direction the market is heading. While average price is important to understand, other market indicators paint a clearer, more reliable market forecast. Here are the factors that we believe are going to play the biggest part in guiding the Nanaimo real estate market.