the rennie landscape | Victoria | Fall 2024

We are pleased to present our Fall 2024 edition of the rennie landscape.

We're in a constant state of change. Not only have the past few years brought significant shifts, but even the last six months have seen a shift in sentiment. While the Bank of Canada has cut rates, some market optimism has waned. Today, inflation is under control but labour market pains are piling up alongside debt burdens, a rapidly expanding Canadian population, and a slew of new policies from all levels of government.

In this edition of the rennie landscape—which we've tailored to Greater Victoria—we explore elements of economic and demographic change, along with many others, to help shed light on how and why our housing markets are evolving the way that they are—and what could lie ahead.

Twice a year, rennie intelligence produces the rennie landscape, which tracks a variety of demographic and economic indicators that directly and indirectly influence the housing markets of Metro Vancouver, Greater Victoria, and the Central Okanagan. Our goal is to provide our community with a basis for evaluating the trajectory of the factors that collectively define the context of the real estate market.

Our rennie intelligence team comprises our senior economist, market analysts, and business intelligence analysts. Together, they empower individuals, organizations, and institutions with data-driven market insight and analysis. Experts in real estate dynamics, urban land economics, the macroeconomy, shifting demographics, and data science, their industry-leading data acquisition, analytical systems, and strategic research supports a comprehensive advisory service and forms the basis of frequent reports and public presentations, covering the Vancouver, Kelowna, Victoria, and Seattle marketplaces. Their thoughtful and objective approach embodies the core values of rennie.