For December 2024

Victoria is magical during the holidays! As someone who has spent countless winters on this beautiful island, I can confirm that there’s something extra special about celebrating the festive season here. Between the twinkling lights, historic charm, and a community that truly embraces the holidays, it’s hard not to feel the Christmas spirit. From cozy strolls through festive neighbourhoods to iconic holiday events, here are some of my favourite seasonal activities in Victoria, organized by category:

Neighborhoods to Stroll

Downtown Victoria

Start with a walk along Government Street, where heritage buildings are adorned with sparkling lights and garlands. Make your way to Bastion Square for pop-up holiday markets or explore Fan Tan Alley in Chinatown, which feels extra magical with its string lights and decorations. Don’t miss The Bay Centre’s holiday displays, perfect for getting into the festive spirit!

Oak Bay Village

Known for its quaint charm, Oak Bay Village transforms into a holiday wonderland. Stroll along Oak Bay Avenue, where you’ll find beautifully decorated shops and cafes. Be sure to check out the Oak Bay Avenue light display and stop by Ottavio Italian Bakery for a festive treat.

James Bay

Walk through the historic streets of James Bay, starting at Fisherman’s Wharf, where brightly decorated float homes add a nautical twist to holiday decor. Then, head toward Dallas Road for stunning ocean views paired with a festive chill in the air.

Installations, Activations, & Festive Places

Butchart Gardens’ Christmas Light Display

The Butchart Gardens is a must-see during the holidays. Wander through their famous Twelve Days of Christmas light display, sip on hot cocoa, and enjoy festive carolers in the beautifully lit gardens.

Inner Harbour

Victoria’s Inner Harbour sparkles with festive lights this time of year. The Parliament Buildings’ Christmas light display is iconic, and the Fairmont Empress goes all out with its holiday decor. Warm up with a cup of tea at the Empress or take a photo in front of their massive Christmas tree.

Royal BC Museum Plaza

This area is a hub of holiday cheer, featuring a giant Christmas tree, live music performances, and special holiday-themed activities inside the museum for families.

Festive Restaurants & Bars

Downtown

   •   Pagliacci’s: Cozy vibes and live music pair perfectly with hearty Italian comfort food.

   •   Irish Time Pub: Enjoy Irish tunes and seasonal bites in a warm, welcoming setting.

Oak Bay

   •   The Penny Farthing: A classic English pub decked out in holiday decorations—perfect for a pint by the fire.

   •   Vis-à-Vis: Their wine selection and cozy ambiance make it a top spot for a holiday date night.

Events, Moments, & Shows

Downtown Victoria

   •   Christmas at Craigdarroch Castle: Tour this historic castle adorned with Victorian-era holiday decorations. It’s a magical experience, complete with live music.

   •   Victoria Symphony’s Messiah by Candlelight: A breathtaking performance that will leave you feeling inspired by the season.

   •   MOM'S THE WORD: TALKIN' TURKEY: the Moms are back to tackle the most wonderful time of the year. 

Victoria Harbour

   •   Festival of Trees: Located at the Bay Centre, this annual fundraiser features beautifully decorated trees for a good cause.

   •   Lighted Ship display: Watch as boats are decked in the Inner Harbour—it’s a truly unique sight.

Up-Island Day Trips

   •   Ladysmith Festival of Lights: Worth the short drive from Victoria, this event features over a million twinkling lights, a festive parade, and holiday markets.

   •   Duncan Farmer’s Market: A perfect spot to shop for local, handmade gifts while sipping on mulled cider.

Whether you’re a long-time resident or visiting Victoria for the holidays, the city offers endless ways to celebrate the season. Bundle up, grab a peppermint latte, and enjoy everything this charming city has to offer!

What’s your favourite holiday tradition in Victoria?

The Canadian rental market has reached an interesting turning point. For the first time in over three years, average asking rents have declined, according to a recent report from Rentals.ca and Urbanation. This 1.2% drop in October compared to the same time last year reflects a national average rent of $2,152 per month. 

The most significant declines were seen in cities like Vancouver (-9.1% for one-bedroom units) and Toronto (-8.7%), driven by a mix of factors: 

   - A cooling economy 

   - Slower population growth 

   - Improved homeownership affordability 

   - Record apartment completions 

What Does This Mean for Investors? 

While declining rents in major urban centers might be concerning for some, it’s worth noting that smaller, traditionally affordable markets like Saskatchewan and Nova Scotia are seeing double-digit increases. Saskatchewan rents rose 17.1% year-over-year, while Nova Scotia climbed 9.6%. 

What to Watch For 

Looking ahead, market dynamics suggest this trend may persist in the short term, particularly as apartment construction remains high. However, three-bedroom apartments appear more resilient, with fewer declines or even increases in rents across most provinces. 

As a property manager, I see these fluctuations as an opportunity to strategize and adapt. Understanding market shifts like these is key to maintaining profitability and meeting tenant needs. 

If you’d like to discuss how this could impact your rental property or investment decisions, I’d be happy to help. 

Managing real estate money can feel like juggling a dozen oranges. You want to keep things up in the air without dropping any. In the beautiful city of Victoria, BC, knowing how to handle your finances can make a big difference. Whether you're expanding your real estate portfolio or you're new to the scenic island, here are some simple steps to help you manage your real estate money like a professional.

## Understand the Market

Before diving into real estate, it's crucial to understand the current market in Victoria. This involves:

- Researching Property Prices: Look at how property prices have changed over the past year. Check the average price for homes, condos, and land.

- Studying Market Trends: See if the market is going up or down. Are more people moving to Victoria? This could affect demand and prices.

- Keeping an Eye on Interest Rates: Interest rates can affect how much you pay on your mortgage. Lower rates mean lower payments.

By knowing these facts, you're off to a solid start. It helps you make smart choices about where and when to buy.

## Budget Like a Pro

Building a budget is like setting a roadmap for your real estate journey. Here’s how to create one:

- List Your Income: This includes your salary, rental income, or any other sources.

- Track Your Expenses: Write down how much you spend monthly on things like groceries, utilities, and your mortgage.

- Set Aside for Emergencies: It's wise to keep some money for unexpected costs, like repairs or vacancies.

When you have a clear picture of your finances, it's easier to see how much you can afford to invest or spend on expansions.

## Invest Smartly

Investing isn’t just about putting your money somewhere and hoping for the best. It’s about making thoughtful decisions. Here are some steps to guide you:

- Diversify Your Portfolio: Don’t put all your money in one property or area. Consider spreading it out across different kinds of properties, like houses, condos, or commercial spaces.

- Leverage Local Expertise: Local real estate agents are a golden resource. They know the market, understand local regulations, and can provide insider information.

- Analyze Potential Returns: For each property, calculate potential rent against costs like mortgage and maintenance. Ensure the rent can cover expenses and produce profit.

Smart investments can grow over time, increasing your real estate wealth with less stress.

## Manage Properties Efficiently

Owning property is just the beginning. Managing it well is key. Here’s how:

- Hire a Property Manager: If you're busy or have multiple properties, a manager can handle rent collection, maintenance, and tenant issues.

- Use Management Software: There are many tools available that track rent payments, expenses, and maintenance schedules.

- Maintain Regular Inspections: Check your properties regularly for repairs and maintenance. Catching issues early can save money in the long run.

Good management keeps your properties in their best shape and your tenants happy.

## Save Smart to Grow Faster

Saving is not just about keeping money aside. It’s about knowing when and how to use it to grow your investments:

- Reinvest Profits: Use your rental income or profits from sales to invest in more properties.

- Consider Long-Term Goals: Think about where you want to be in five or ten years. Let these goals guide your savings and investment plans.

- Tax Efficiency: Understand tax benefits available for property owners in Canada. This might include deductions for mortgage interest or property taxes.

By saving smartly, you’re not just holding onto money. You’re preparing to seize opportunities.

## Helping Newcomers Settle in Victoria

For those new to Victoria, real estate isn’t just about buying property. It’s about finding a home. Here’s how newcomers can settle smoothly:

- Research Neighbourhoods: Each area in Victoria has its own vibe and facilities. Find one that matches your lifestyle.

- Understand Legal Requirements: Familiarize yourself with the legal side of buying properties in Canada. Know about visas, taxes, and property laws.

- Seek Local Help: Real estate experts can guide newcomers through the process, helping them with everything from finding a home to understanding local customs.

A little help goes a long way in making the island feel like home.

## Stay Informed and Adapt

Real estate markets can change, and so can your personal circumstances. Staying informed helps you adapt smartly:

- Read Local News: Stay updated on real estate news in Victoria to anticipate changes in the market.

- Attend Workshops and Seminars: These events can provide tips and insights from other professionals.

- Grow Your Network: Join local real estate groups or online forums to learn from others’ experiences.

Being informed and adaptable means being ready for whatever happens next.

## Conclusion

Managing real estate money doesn't have to be overwhelming. By understanding the market, budgeting wisely, investing smartly, managing properties effectively, and staying informed, anyone can handle their real estate finances like a pro. With patience and practice, even newcomers to Victoria can find success and grow their real estate portfolios. And in this stunning coastal city, the rewards are as beautiful as the views.

#RealEstate