Victoria faces property shortages as newcomers arrive for lifestyle change
“In Victoria, because we’ve got so few places available – all our projects are sold out – and because of the shortage of inventory even though sales will be less, we expect prices to continue to keep inching up,” said Mr. Nugent. “There’s more buyer demand than we can supply right now.”
Low inventory lifts condominium values in capital region
By Mid 2016 any excess inventory was gone, which continues to push up the values of condos. Despite plenty of building in the city, there remains plenty of demand and little inventory, so there’s a good chance values will continue to rise.