After a strong market in January 2020, all key indicators of this continuing into Spring 2020 are still in place. The COVID-19 pandemic has knocked back the sales activity in Victoria since mid-March, but due to low inventory and remaining buyer demand, the region is still seeing prices holding steady.
Victoria is a popular spot for retirees, who along with suburban families make up the majority of prospective buyers. The main concern for these buyers are typically housing affordability and low supply levels. While it’s not exactly clear when normal sales activity will return, there is optimism that there will be a pent-up demand later in the year due to Victoria’s high liveability and lifestyle.
So, what are the best neighbourhoods in Victoria to buy a house? RE/MAX explores more than 300 of Canada’s most liveable hot spots in the new 2020 Liveability Report. Here are our top picks in Victoria.
10 Most Liveable Neighbourhoods in Victoria
- North Park
- Saanich Core
- South Jubilee
- North Jubilee
Most Liveable Neighbourhoods in Victoria
Many of the neighbourhoods listed above offer great liveability factors to homeowners, including proximity to green space and dog parks, as well as big-box stores and chains. They also boast good proximity to preferred schools and locally-owned restaurants.
Victoria Liveability Trends
Liveability in Victoria is only seen as continuing to improve. “Liveability in Victoria is already extremely high. Things we do not have much control over, like our mild climates, do not help, but the continued expansion of infrastructure is definitely also a big reason why we’re optimistic that living in Victoria will just continue to keep getting better”.
Victoria at a Glance
Victoria is the capital of British Columbia, nestled on the southern tip of Vancouver Island. It is a smaller city, but boasts a dense population which speaks to the high liveability of this popular region. Victoria’s mild climate and laid-back pace attract a large number of retirees looking for a more relaxed lifestyle. Often called “The Garden City”, Victoria boasts both beauty and brains, with a thriving technology sector, which is the city’s largest revenue generating private industry.
Canada’s Most Liveable Neigbourhoods
Liveability is about quality of life at a local level. A neighbourhood’s dynamism, or lack thereof, involves a delicate convergence between independent small businesses, public institutions, arts and culture, green spaces and housing, to name a few. The COVID-19 tragedy will impact neighbourhood ecosystems differently across the country, just as the virus itself has. Yet, civic/local pride has been proliferating throughout this crisis in inspiring ways, giving Canadians hope that micro-economies, including real estate, have the resilience to be restored in the near and mid-term.
To learn more about liveability in Canada’s biggest housing markets, read the RE/MAX 2020 Liveability Report.