Based on a ‘barometer’ report from HelloSafe, actual property transaction costs grew by 2.3 per cent in Victoria and 0.9 per cent throughout Vancouver Island between December 2021 and December 2022.
There was a drop of 11.9 per cent for all of British Columbia.
“British Columbia’s actual property market appears to have entered a downtrend,” HelloSafe mentioned.
The report exhibits costs dropping within the three most populated provinces within the nation with Ontario seeing a 12.2 per cent decline and Quebec taking place by 0.9 per cent.
“Costs continued to extend in seven of the ten Canadian provinces between December 2021 and December 2022,” HelloSafe mentioned. “Whereas actual property costs peaked in 2021 in Canada, 2022 appears to be the start of a development reversal.”
The most important enhance of any Canadian space on the report was in South Central Alberta with a leap of 27.1 per cent.
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