There have been many news stories recently about a drop in developments and home sales in Victoria over the past few months and a return to “market stability.” However, the focus on a decline in home sales has obscured continued demand for real estate aimed at singles, retirees and young families.
If you are considering buying or selling a home in Victoria, you need to understand your local market, particularly in the context of your property type and price point. That’s according to advice from the Greater Victoria Real Estate Board in its October market summary. While home sales in Victoria have slowed down, there is still demand for for real estate aimed at singles, retirees and young families.
“Micro markets in our area behave very differently as they are influenced by different pressures,” says VREB in its October report. “The under-$800,000 housing market in some areas is under tremendous pressure as many buyers compete for these homes.”
Although there was an increase in housing inventory in Victoria at the start of 2018, those inventory levels have stabilized as well. So buyers still face a market with much less inventory available than the historical average.
However, paying attention to those “micro markets” may pay off for both home sellers and people looking to buy.
New Development Near Mount Doug Park in Saanich
Eagle-eyed real estate watchers may have identified one such micro market in Gordon Head. Mount Douglas Estates is a new development in Saanich’s newest subdivision, just north of University Heights shopping centre, off Mount Douglas X Road.
So far, two new luxury homes have been built in the new Saanich development by Jawl Residential. At about 9,000 square feet each, the lots are larger than the Saanich average of 6,000 square feet. They are located at the base of Mount Douglas with access via a private road.
- At least 3,000 sq.ft. of living space
- Detailed finishing with high-quality engineered wide-plank oak hardwood floors, wool carpets and tile floors
- Overheight 9 foot high and vaulted ceilings
Most of all, the new development in Saanich enjoys close proximity to shopping, schools, transportation option and, of course, great parks.
Close to Beaches, Regional Parks and Recreation
Gordon Head is a livable region in east Saanich that offers real estate near UVic, the ocean, many parks and shopping. This part of Victoria offers easy and direct access to both downtown Victoria as well as Victoria International Airport and BC Ferries on the Saanich Peninsula.
Mount Doug Park
Wooded Mount Doug Park is just a short trip by car or bicycle from Gordon Head. This forested park is perfect for hiking or family picnics. The region is also surrounded by small, quasi-private beaches, including Arbutus Cove and Paul’s Terrace.
Gordon Head Recreation Centre
Located at Lambrick Park, the “Rec Centre” features a pool and sauna, a training gym, drop-in sports and even a skate park. The Rec Centre sits at the centre of soccer fields, baseball diamonds and tennis courts. Close by, there are even more soccer fields at Tyndall Park and at the University of Victoria.
School District 61 provides catchment maps to help you determine which schools serve various neighbourhoods.
Hillcrest Elementary is located in the very heart of Gordon Head, and provides a comprehensive ESL program as well as a Challenge program for gifted learners. Other elementary schools in include Torquay Elementary, Frank Hobbs and Campus View.
Middle and Secondary Schools
Nearby Mount Douglas Secondary hosts one of two of the district’s ‘Challenge’ programs for gifted, creative and talented high school students.
The neighbourhood’s location at the base of the Saanich Peninsula means it’s an easy fifteen-minute drive by automobile into downtown Victoria to the south along the Shelbourne Valley. The 27 and 28 buses provide direct access to downtown as well.
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If you’re looking to buy a home in Victoria you need someone who understands both the market and the individual neighbourhoods. With a 30+ year career in real estate (and almost 25 years in Victoria), Michael can get you into your dream home.Tags: new saanich developments saanich developments saanich RE investment tips saanich real estate developments