Скачать или смотреть Go Real Estate Group: December 2024 Market Insights & Stats

Looking Ahead: Potential Changes and How They Affect the Market

As we look to 2025, there are factors that could make it easier for buyers. Recent changes to extend amortization periods for first-time buyers and updates to the property transfer tax thresholds should help more people get into the market. Consistent interest rates could also help keep things stable, but every situation is unique, so working with a local expert is essential for navigating the process.

One issue on the radar is the potential impact of U.S. tariffs on trade and how this might affect us here in Victoria. With concerns about the potential for 25% tariffs under the new U.S. president, many have asked how this could affect our market.

While it’s hard to predict the full effects, Victoria's diverse economy should make us less vulnerable to such policies than other regions that are more reliant on industries like energy, automobile manufacturing, or lumber. If tariffs do affect building materials like lumber and steel, we could see construction slow down, potentially raising costs in the short term. However, the impact will largely depend on how long these policies last and whether industries can adapt.

Historically, the Victoria housing market has been resilient during times of economic volatility, and this could present opportunities for buyers. If other buyers hesitate because of uncertainties, those who remain active in the market might find less competition and could even negotiate better deals.

Victoria remains one of the most stable and least impacted housing markets in Canada. The city's climate and lifestyle continue to attract people from across the country and abroad, and the restriction on foreign buyers helps maintain that stability.

Closing Thoughts and Moving Forward in 2025
As we move into 2025, whether you're looking to buy or sell, we're here to help you craft the best strategy for your needs and goals. We also want to take a moment to thank everyone who worked with us in 2024. Your trust, referrals, and support helped us grow, and we couldn’t have done it without you.

We’re grateful for the incredible people we’ve worked with, and we look forward to another amazing year ahead. A special thanks to our friends and family for supporting us through this video journey—this is definitely outside our comfort zone, but we appreciate your feedback and encouragement.

We’re excited to continue growing and to bring you more content this year, including buyer and seller tips, legislation updates, neighborhood breakdowns, and more.

Thank you for your trust and support. If you’d like to review the full stats package or have any questions, feel free to reach out—we’re happy to send you the latest updates. Looking forward to working with you in 2025!

Your friends in Real Estate
Go Real Estate Group
778-743-1200
[email protected]
www.gorealestategroup.com