Demand for homes north of Victoria on Vancouver Island continues to be well above the supply.
That’s resulting in rising prices.
The Vancouver Island Real Estate Board is reporting, in July, the benchmark price of a single-family home, north of Victoria, rose to 457,100 dollars.
That’s up 20 per cent from one year ago.
Nanaimo’s benchmark price rose 19 per cent to 490,500 dollars while the Parksville-Qualicum area saw its benchmark price break the 500,000 dollar mark, rising by 14 per cent to 506,700 dollars.