Where is Victoria’s most sought-after neighbourhood? (INFOGRAPHIC)

Hot trends in local property searches and home prices revealed in this cool graphic breakdown

Great shopping, city views and easy access to downtown are clearly a big draw in Victoria, as Mayfair is the most searched-for neighbourhood by the city’s home hunters, a new infographic by property website REW reveals.

The data analysts at REW found that local property seekers on their portal have realistic goals, with the most popular home search in Victoria a two-bedroom condo in the $400-500K range.

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REW also noted that interest in Victoria properties jumped 34 per cent year over year. This is likely related to greater awareness of the website combined with a stronger general interest in Victoria real estate, with Metro Vancouver falling out of favour.

The graphic also looks at local home sales and listings in the first six months of the year, compared with the same period in 2017. Echoing the board’s official stats, it reveals condo sale prices rose much faster than detached home prices, on an annual basis, and that sellers’ asking prices did not adjust accordingly. However, in the past few months, home prices in the region have declined and are now close to what they were one year ago.

Check out REW’s infographic below.

Victoria REW infographic October 2018

 

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