I love real estate, and so does everyone who is considering buying or selling. There is one question that I am asked daily… “Will house prices keep going up?”
The honest truth is that no one knows. I typically give my disclaimer and then dump a bunch of statistical information on them and follow it with a summary of those statistics and how they may affect that individual. Unfortunately it’s not perfect, but people like the statistics. RE/MAX has sent a forecasting report that I’m sure some of you would be interested in reading.
The short answer is that we are running out of space in Victoria, and there is a prediction of an increase of approximately 4,000 people per year in Greater Victoria. No space=higher prices. More people=less available property=higher prices.
Please feel free to contact me for more information.