There have been many news stories recently about a drop in 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 that new developments in Saanich hope to address.
As the Greater Victoria Real Estate Board (VREB) noted in its September 2018 update, while listings have remained relatively static for months, there are fewer single family homes for sale under $750,000. In fact, thirty per cent fewer homes this year were listed for sale at $750,000 or less than in the year previous, which means there is still demand for lower priced homes in popular areas across Greater Victoria.
New Development in Saanich
A variety of new developments in Victoria are taking advantage of this demand.
Radius at Royal Oak will feature a total of 66 units, and, when it was approved, was the first six-storey wood-framed condo building in Victoria in recent times.
Distinctive amenities include:
- Nine-foot ceilings
- Pedestrian and cycling access to Royal Oak mall and connect to the Centennial Trail, Galloping Goose and Lochside Trail
- A green roof to support vegetation over the parking garage after initial plans for a large green roof posed insurance problems for wood-frame construction
- 90 underground parking spaces, including eight parking stalls for electric vehicle charging
Close to Beaches, Regional Parks and Recreation
Perfect for anyone who loves the outdoors, Radius at Royal Oak is close to a variety of parks and recreation spots.
Elk and Beaver lakes
Close by is one of the largest parks in Greater Victoria, Elk Lake and Beaver Lake. This network of swimming lakes provides opportunities for canoeing and kayaking, as well as fishing. The lakes are ringed by a ten-kilometer trail network popular with joggers, dog walkers and horseback riders.
Saanich Commonwealth Place
Originally constructed in 1993 for the 1994 Commonwealth Games in Victoria, Saanich Commonwealth Place features a wave pool with water slides, competition-length swim lanes and diving facilities, weight rooms and a training gym, and other amenities.
Saanich Commonwealth Place is also the location of the Bruce Hutchison Branch of the Greater Victoria Public Library.
Royal Oak Shopping Centre and Broadmead Village are both nearby, and offer Radius residents plenty of choice when it comes to shopping and running errands. Grocery stores, banks, medical clinics and many other shops and services are close by.
The neighbourhood’s central location at the base of the Saanich Peninsula means it’s an easy fifteen-minute drive by car to downtown Victoria southbound on Hwy 17 (the Pat Bay Highway). The airport and BC ferries are located just fifteen minutes to the north.
Royal Oak residents can commute to downtown by bicycle via the Lochside Regional Trail. Depending on your fitness level, traveling by bicycle into town can be just as fast as driving.
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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.