First Time Buyers of Real Estate
Two out of three Canadian families own a home – that’s one of the highest rates of home ownership in the world. And for good reason.
At Properties in Victoria Professionals™ we believe real estate is a great investment. And with with increasing house prices, it’s all the more important for first-time buyers to get a foot on the first rung of the property ladder.
Did you know that…
- Homeownership is the single largest source of savings for Canadian households.
- Unlike other investments, which can be quite volatile, the increase in the value of homes is relatively steady. The average house price in Canada has increased every year since 1998.
- The return on your investment in your home can be substantial. In 2004, the average house price in Canada rose to a record $227,210 – a 9% increase in just one year and a 27% increase over four years.
- Homeowners can use the equity in their homes as security for other loans.
- Building equity in your first home is the first step on the property ladder. It gets you into the market, keeps you in touch with increasing house prices, and puts you in a good position to trade up to bigger and better houses as your circumstances allow.
Want to know more about the first-time homebuyers market? Take a look at our First-time Homebuyers’ Report. It’s a great source of information about trends and activity in major markets across Canada.
Let’s have a look at Canadian house prices, not just Victoria.
How can I learn more about house prices in my market?
The Royal LePage Survey of Canadian House Prices is a quarterly report geared to help you learn more about house prices in your specific market. We have published the report since 1974, and many organizations, including the Bank of Canada, turn to Royal LePage for information on trends in average house prices in markets across the country. (For further information, find out how we produce the report.)
Issues are posted online approximately one month after the close of each quarter:
Need help understanding the terms used in the survey? See the Glossary of housing types.
To view the Survey of Canadian House Prices you need to have Adobe Acrobat Reader installed on your computer. To download the Adobe Acrobat Reader, visit the Acrobat site.
If you are planning to purchase real estate in Victoria BC in the future, just let us know. Our team of professionals has the knowledge and know how to meet your needs. Contact Bill or David at Properties In Victoria Professional™ team. You can consult their Victoria Real Estate website www.PropertiesInVictoria.com or just email Bill and Dave
Properties in Victoria Professionals™- Royal LePage Coast Capital Realty
Bill has been a REALTOR® in Victoria since 2006. Originally from the Vancouver area, Bill moved to Victoria to attend the University of Victoria where he received his Bachelor of Science. Not only does Bill have a wealth of real estate knowledge he is also an active member of the community. He is a member of Triple Shot Cycling Club, Island Road Racers and is the Race Director for the Sooke River 10K.All Articles More Like This