Scott Loughton Real Estate & Development

03/04/2026

Ideal downsizing option for those looking for executive one level living, in an exclusive & rare, gated community in Oak Bay. A location to be proud to call home, the Uplands Estates is an enclave of 64 homes nestled on the back of the Uplands Golf Course, adjacent to Henderson recreational Centre & across the road from the University of Victoria and trails of Mystic Vale. A double detached garage with sub panel and drywall finished is the icing on top! For those with an active lifestyle, there is plenty to enjoy with this location and the grounds are a beautiful option for an outing closer to home too.

03/04/2026

Dramatic and stunning home at the Promontory, Victoria’s premiere 21 story high quality steel & concrete built luxury condos. 12th floor two-bedroom, one bath bright corner unit features a secure underground parking spot, concierge service, bookable social lounge, and fitness facility. Pets, rentals, and kids welcomed. Easy walking to downtown shopping & dining plus the vibrant community of Vic West at your door step.

06/05/2025

Great unit - 20th floor downtown!

Hudson Place One by Townline - a 25-storey landmark tower featuring contemporary architechture, intelligently-designed interiors, 11,000+ sf of exceptional indoor/outdoor amenities & downtown Victoria's highest elevated views. This sophisticated and rare 20th floor one-bedroom home offers unparallel...

06/05/2025

https://app.standardres.ca/2004-777-herald-st/admin/ #/media/

Hudson Place One by Townline - a 25-storey landmark tower featuring contemporary architechture, intelligently-designed interiors, 11,000+ sf of exceptional indoor/outdoor amenities & downtown Victoria's highest elevated views. This sophisticated and rare 20th floor one-bedroom home offers unparallel...

01/10/2025

Canadian Employment (December 2024) – January 10, 2025
Canadian employment rose by 0.4 per cent from the previous month, growing by 91,000 jobs to 20.738 million in December. The employment rate rose by 0.2 points to 60.8 per cent, while the unemployment rate fell 0.1 points to 6.7 per cent. Average hourly wages rose 3.8 per cent year-over-year to $35.77 last month, while total hours worked were up 2.1 per cent from December of the previous year.

Employment in B.C. rose by 0.5 per cent to 2.844 million, with a gain of 14,000 jobs in December. Employment in Metro Vancouver fell 0.1 per cent to 1.601 million in December. The unemployment rate in B.C. rose by 0.3 points to 6.0 per cent in December. Meanwhile, Vancouver's unemployment rate rose by 0.2 points to 6.5 per cent in the final month of the year. Overall, British Columbia's labour statistics are very weak and have diverged from national patterns, with employment only 0.2 per cent higher than December 2023.

December's jobs data shows a second consecutive month of strong employment growth, while the unemployment rate remains stable, though at a higher-than-desired level. Job growth was more broad-based than in previous months, with 12 out of 16 measured industries finding employment gains. December's report closes the year on a strong note and may signal the onset of an expected economic recovery in 2025. We continue to anticipate that the Bank of Canada will lower its policy rate two more times over the first half of 2025 before pausing to assess the need for further stimulus.

"Copyright British Columbia Real Estate Association. Reprinted with permission."

12/17/2024

Canadian Inflation (November 2024) – December 17, 2024

Canadian prices, as measured by the Consumer Price Index (CPI), rose 1.9 per cent on a year-over-year basis in November, down from a 2.0 per cent increase in October. Month-over-month, on a seasonally adjusted basis, CPI increased by 0.1 points in November. Excluding gasoline, the CPI was unchanged at 2.0 per cent in November. Overall shelter price growth continues to cool, as mortgage interest costs were up 13.2 per cent, marking the fifteenth consecutive month of deceleration. Conversely, rent was up 7.7 per cent in November year-over-year, up from 7.3 per cent in October. In spite of accelerating rent price growth, total shelter costs rose 4.6 per cent in November, down from 4.8 per cent in October. In BC, consumer prices rose 2.3 per cent year-over-year, down from 2.4 per cent in October. The Bank of Canada's preferred measures of median and trimmed inflation, which strip out volatile components, remained unchanged at 2.6 and 2.7 per cent year-over-year, respectively.

Canada's CPI report for November marks a stabilization around the midpoint of the Bank of Canada's inflation target range. With CPI ex-gasoline remaining relatively steady, November's headline CPI is likely driven by tailwinds from Black Friday and other related sales which partially accounted for lower prices and higher consumption across several sub-sectors. In spite of this stimulus, many of the special aggregate CPIs published by Statistics Canada remained either unchanged or slightly decelerated, indicating lingering weaknesses in consumer spending. Moving into the new year, the Bank has emphasized concerns of decelerating inflation as much as movement in the opposite direction. Given our trade uncertainties with the incoming American administration, coupled with an underperforming economy, the Bank will monitor the last monthly GDP report of 2024 to set the stage for their agenda heading into 2025, namely, the speed and depth at which they continue cutting the overnight rate.

"Copyright British Columbia Real Estate Association. Reprinted with permission."

10/23/2024

Bank of Canada Interest Rate Announcement
October 23, 2024
The Bank of Canada lowered its overnight policy rate by 50 basis points this morning from 4.25 per cent to 3.75 per cent. In the statement accompanying the decision, the Bank noted that the economy continues to operate in excess supply as the labour market has softened and economic growth has been modest. However, the Bank does expect growth to strengthen rising from 1.2% this year to 2.1% in 2025. On inflation, the Bank stated that inflationary pressures are no longer broad-based and that consumer and business inflation expectations have largely normalized. The Bank expects inflation to remain close to its 2% target with upward pressures from shelter costs diminishing.

While the Bank normally reserves movements larger than 25 basis points for more urgent times, with inflation considerably undershooting the Bank’s forecast, monetary policy was about 40bps tighter in real terms than desired and it seems like the Bank preferred to catch-up all at once rather than risk falling further behind the curve. However, it has also risked setting a new precedent and will have to communicate its intentions going forward very carefully to avoid a market over-reaction. We expect that the Bank will be cutting again in December, though the Bank did not necessarily provide any hints on whether to expect a return to 25 basis point reductions or another jumbo-sized cut.

Link: https://mailchi.mp/bcrea/bank-of-canada-interest-rate-announcement-9yj458v1ek

"Copyright British Columbia Real Estate Association. Reprinted with permission." BCREA makes no guarantees as to the accuracy or completeness of this information.

07/19/2024

Canadian Retail Sales (May 2024) –July 19th, 2024

Canadian retail sales fell 0.8 per cent to $66.1 billion in May. Excluding volatile items, sales were down 1.4 per cent on a month-over-month basis. In volume terms, adjusted for rising prices, retail sales rose 0.7 per cent in May.

Retail sales in BC were down by 1.3 per cent in May and fell by 1.6 per cent from the same time last year. In the CMA of Vancouver, retail sales were down 1.2 per cent from the prior month and were up 0.9 percent from May 2023.

These figures are indicative of an overall weakening trend in Canadian goods consumption, with retail sales falling during 4 of the last 5 months. Overall, this pattern supports the argument for a second rate cut by the Bank of Canada in July to promote more economic activity.

"Copyright British Columbia Real Estate Association. Reprinted with permission."

07/13/2024

Shaq tells how he avoided taxes after putting his parents on salary.Don't forget to follow us on Instagram - https://www.instagram.com/sim...

06/17/2024

Canadian Housing Starts (May 2024) - June 17th, 2024

Canadian housing starts rose 10 per cent to 264,506 units in May at a seasonally adjusted annual rate (SAAR). Starts were up 35 per cent from the same month last year. Single-detached housing starts were largely unchanged from last month at 54,410 units, while multi-family and others rose 13 per cent to 210,093 units (SAAR).

In British Columbia, starts fell 15 per cent from last month to 46,507 units SAAR in all areas of the province. In areas in the province with 10,000 or more residents, single-detached starts rose 7 per cent to 4,360 units while multi-family starts dropped 18 per cent to 39,959 units. Starts in the province were 14 per cent above the levels from May 2023. Compared with last year, year-to-date starts were up by 20 per cent in Victoria, 52 per cent in Kelowna, and 41 per cent in Abbotsford. Year-to-date starts were down by 8 per cent in Vancouver and by 14 per cent in Nanaimo.

"Copyright British Columbia Real Estate Association. Reprinted with permission."

06/07/2024

Canadian Employment (May 2024) - June 7th, 2024

Canadian employment edged up by 27,000, or 0.1 per cent, to 20.518 million in May. The unemployment rate ticked up to 6.2 per cent. Average hourly wages rose 5.1 per cent year-over-year to $34.94 last month, while total hours worked were up 1.6 per cent from May of last year.

Employment in BC fell 0.3 per cent to 2.863 million, while employment in Metro Vancouver fell 1.1 per cent to 1.610 million in April. The unemployment rate rose 0.6 points in BC to 5.6 per cent while rising in Metro Vancouver by 0.8 points to 6.1 per cent last month.

"Copyright British Columbia Real Estate Association. Reprinted with permission."