Lorne Gait Associate Broker
Lorne Gait and his team are Vancouver Island Real Estate Experts ready to help you with your real estate needs. For the past several years, Vancouver Island has been experiencing a Seller’s Market where Buyers are here to Buy and Seller’s have seen rapidly rising prices. However, due to significant inflation of house prices and and of many other commodities, the Bank of Canada is in process of raising interest rates. We are now entering a time where the Sellers may not have the same advantage they have had in the past number of years.
It would appear we have reached the bottom of the gradual interest declines we have seen over the past few decades. The bank of Canada is certainly signaling that they are going to raise rates. Lorne is happy to talk with you about interest rates. However, if you have lots of questions, we can refer you to a good mortgage broker. A mortgage broker can help you navigate your way through this time of change.
The second is the transition of real estate from one generation to the next. Lots of young families want homes and yards in which to raise their families. Lots of 55 plus folks want smaller yards and less work to do.
The third trend is the need new comers to Canada have for housing. Canada has good immigration programs that attract folks who have money to invest in real estate. These trends have led to a massive shortage of housing from the East Coast to the West Coast in Canada. There is a huge need for affordable and entry level housing.
Moving to suburbs
The final trend which is specific to Vancouver Island is the movement of folks from urban to rural/suburban areas. Vancouver Island gives its residents many perks. Quality of life is high with clean air, year round recreational opportunities, and the most moderate climate in Canada. Vancouver Island is a great place to retire and to raise families. Pace of life is reasonable. Access to Vancouver and other parts of Canada are plentiful with BC ferries and great airport availability.
Because of these trends, Vancouver Island Buyers want to Buy on Vancouver Island. The high prices may well have reached a peak. Likely do to pricing and interest rates, we will enter a slower market that will be more balanced and will give Buyers an opportunity in the days ahead.
If you need help with your sale or purchase Lorne Gait and his sales team can help you navigate safety protocols and assist you toward your real estate goals in this interesting time period. Let’s get in touch . . .
Vancouver Island is about extraordinary Real Estate and waterfront lifestyle. It is a world class real estate environment and many folks want to live here. We have spring when others still experience winter. We have cool ocean breezes when others are roasting in the heat. It is a moderate climate great for those who live here.
Getting to know Vancouver Island Real Estate
Vancouver Island is located on the west coast of Canada and is home to some 800,000 residents and growing.
Getting to know us . . . Helping YOU is what we do.
Vancouver Island has a unique and friendly culture with a different quality of life. Things move in a slower pace, and there is a gentle calm that is felt not only on our sheltered waters.
A marketing Plan that work for you . . .
A marketing plan starts with communication and a plan to meet your expectations. This includes so many things which Lorne can discuss with you. However, it certainly involves the best available new technology.
Here is an example of a Website Post and Video for an Outstanding Walk on Waterfront Vancouver Island home near Ladysmith, BC . . .
Our Vancouver Island Real Estate Team is available to help you with all your Vancouver Island real estate needs.
Want an expert to help you buy or sell
waterfront properties? . . . Get in Touch.