Victoria real estate boom shifts from residential to commercial

Commercial real estate is the new focus in Victoria as a record home-building pace spreads into the office and retail sector. Meanwhile, a prime Colwood development site is in play and a historic hotel will test the demand in a roaring tourist industry.

Victoria set a near-record home-building pace in 2016, expected to nudge 3,000 housing starts, eclipsing the 2,739 starts one year earlier.

“We have passed our peak year in over a decade and we will be seeing stronger starts than we’ve had in several decades,” said Casey Edge, executive director of the Victoria Residential Builders Association.

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Categorized in: Western Investor