A remarkable year for real estate in Victoria…

Remember these bumper stickers from a few years back?

Remember these bumper stickers from a few years back?

2015 has been a truly remarkable year for real estate in Victoria, and it’s only getting better. If this level of activity continues, we’re in for a killer 2016.

The Victoria Real Estate Board has reported that sales have increased month over month compared to last year, and the momentum appears to be getting stronger. But what exactly can we credit for the increased activity? Consumer confidence? Foreign markets? Low interest rates? Perhaps… surely there are a number of reasons.

If we’ve ever spoken about economics (a subject I love) you may of heard me mention that things should pick up again in 2015/2016, especially when it comes to real estate. Interest rates have been low for a while, so they can’t be the sole reason for an improved market. And foreign markets? There has been some interesting news overseas in the stock market, but markets go up and down around the world.

You may not agree with me, but I believe it comes down to consumer confidence. It’s a simple as that. A indefinite amount of time passes, and people forget the woes of the past. Things are good again… and I’m all for it. Bring on the positive! Just like that recession bumper sticker that I used to see a few years ago (but haven’t seen since): “Recession? I Refuse to Participate”

Here’s to a great closing to 2015 and (another) record breaking 2016!