Despite the current fall of housing prices in British Columbia’s Lower Mainland from their excessive heights, a growing number of homebuyers and investors are turning their attention to Vancouver Island real estate. With its comparatively lower property prices, relaxed lifestyle, and strong community ties, the island is quickly becoming a compelling alternative for those seeking both affordability and quality of life.
Gather the latest information on the real estate market in Nanaimo, Vancouver Island, and Canada-wide with our Gillette and Associate Market Updates
Category: Real Estate Updates
June 2025 – Real Estate Market Update
HUGE First-Time Home Buyers GST Exemption
Hey Nanaimo! If you’ve been scrolling through listings, dreaming of that perfect first home by the ocean or tucked away in a quiet neighbourhood, you’re in for some fantastic news. The federal government just dropped a major game-changer that could make Nanaimo homeownership a much more attainable reality for many of you: a brand-new GST […]
May 2025 – Real Estate Market Update
Welcome back to the Gillette and Associates May 2025 – Real Estate Market Update, we are going to cover the landscape of where the market has came to and where it headed throughout this post.
December 2024 Market Update
Factors we are watching in 2025
2024 Year End Market Update
Vancouver Island Real Estate Trends – November 2024 The Vancouver Island market continues to demonstrate resilience, offering opportunities for buyers, sellers, and investors alike.
November 2024 Market Stats
Beyond Vancouver – Investor Hotspots
It’s no surprise that Western Investor recently highlighted Nanaimo as a standout location for real estate investment. With strategic infrastructure developments, booming commercial projects, and a high demand for rental properties, Nanaimo is primed for growth, making it an increasingly attractive destination for investors seeking long-term returns. As leaders in Nanaimo Real Estate and 30 […]
Spring Market Arrives in the Fall
Fall Real Estate Market Update – Vancouver Island The big story right now is the Bank of Canada’s half-point interest rate cut. Dropping the overnight rate by 50 basis points As expected, the Bank of Canada cut its key interest rate by 50bps to 3.75% in its October 2024 decision, with plans to continue lowering […]
July 2024 Market Update
The below graph represents the Nanaimo area sales and prices for single family homes for July market stats
June 2024 Market Update
In June 2024, the Vancouver Island Real Estate Board (VIREB) reported a total of 737 property sales across all categories on the MLS® System. This included 359 single-family homes (excluding acreage and waterfront properties), reflecting a 15% drop from June 2023 and a 12% decrease from May 2024. Sales of condo apartments stood at 82, […]
June 2024 Market Report
The Canadian GDP expanded by 1.7% in annualized terms in the first quarter of 2024, accelerating from a downwardly revised 0.1% increase in the fourth quarter but coming below market expectations of 2.2% growth. The annual inflation rate in Canada eased to 2.7% in April of 2024 from 2.9% in the previous month, in line […]
