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Single family house prices in Victoria BC 2019 and 2020, by suburb

In May 2020, a single-family house in Oak Bay cost 1.2 million Canadian dollars, which rose to 1.23 million Canadian dollars the following year. Oak Bay was the most expensive suburb in Victoria, British Columbia in both periods, followed by North Saanich, and Metchosin.

Victoria: an overview

Victoria is the capital city of the province of British Columbia. The city is located south of Vancouver, and across the U.S. border from Seattle. In 2018, the average home price in Victoria was 597.45 thousand Canadian dollars, which placed the city as the eighth most expensive Canadian city for residential real estate.

Home affordability in Victoria

Victoria was the third least affordable Canadian market as of the fourth quarter of 2018. Households needed to pay, on average, 60 percent of their household income to afford mortgage payments. However, house prices in the city are set to remain the same in 2019, which may ease the burden on homeowners.

Prices for a single family house* in Victoria, British Columbia in May 2019 and May 2020, by suburb

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Source

Release date

June 2020

Region

Canada

Survey time period

May 2019 and May 2020

Supplementary notes

*according to MLS Home Price Index methodology, the characteristics of a single family home are a composite of those for one- and two-storey single family homes and don't specify whether the home is attached or detached.

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* Prices do not include sales tax.

Statistics on "Residential housing in Canada"

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