Wall Road Journal promotes ‘inexpensive’ Victoria way of life

The Wall Street Journal describes Victoria as having a “laid-back, affordable” lifestyle in a new article and video about the real estate market in the city.

In the video accompanying the article, digital editor Leigh Kamping-Carder said the city was in the middle of a real-estate frenzy. Three couple’s properties were featured, all listed at over $2 million.

“In the last year, buyers priced out of Vancouver and other Canadian cities and semi-retired professionals able to work remotely are seeking out the city’s laid-back, affordable lifestyle,” Kamping-Carder said in the video.

The video profiles three couples. The Andersons hunted for nearly two years for their 6,144 square-foot home. According to the video, after being outbid four times, the couples roughly $2 million offer was accepted for the four bedroom home. The Andersons completed a $300,000 renovation last year and plan to move again. The house is listed at around $2.38 million.

The Hunters, who like to watch cruise ships dock from the five decks of their condo in James Bay. The two-bedroom has a media room and the couple also has a lakefront house outside of Victoria. The condo is listed for almost $2.97 million.

The third couple, Rob McAdams, build a home in Central Saanich in the 1990s for around $2.23 million and has spent about $375,000 in upgrades. The five-bedroom home is listed at $5.87-million. McAdams and his wife Bette also spend time in California.

“The median price of a Victoria home grows 15.5 per cent year-over-year in the first quarter of 2017.”

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