Tag Archives: market update

April 2026 – Market Update

April Smiles Hello

By Li Read, Salt Spring — April 2026

Spring Arrives

Spring arriving on Salt Spring IslandAn interesting month…it starts with continuing March weather vagaries, bare tree branches, buds tightly furled, Spring’s promise still uncertain.

At the close of the month, the eruption of growth is everywhere, and it’s suddenly almost May. That surprise of real Spring in just mere days brings with it a renewal of energy everywhere, not just in gardens. Enjoy!

The Real Estate Market

Salt Spring Island real estateWhat about that ever interesting real estate market? The Spring season also brings with it a restless desire for change.

For some substantial time, both locally and Canada-wide, perhaps from 2022 to 2025, inventory remained low and prices remained relatively stable…but outcomes with offers written/presented were very slow. Buyers remained interested, did reply to marketing pieces, did make solid inquiries, did sometimes turn up to view, but final action did not result. Uncertainty prevailed.

It does take time to sell properties in secondary home/recreational areas: no local market means discovery, observation, thoughtfulness, and then activity. Time is always a component of sales on Salt Spring and the Gulf Islands.

Currently, there are around 117 listings on Salt Spring…that would take in residential, land, commercial. In a steady market, there might be around 382 to 400. There is not a lot of choice in either type or price, for a buyer. Most owners do not want to be sellers.

All levels of government (municipal, provincial, federal) have been singing the song of affordability, and for some time, but nothing coherent has emerged to create this. Low inventory continues.

Title & DRIPA

Spring blooms on Salt Spring IslandThe reasons for hesitations in activity in the past have varied. In this 2026 year, one of the concerning issues is about title…indigenous vs fee simple. It may be that the remainder of the provincial Spring legislature sitting will finally see this being addressed.

The process of the UN Declaration of the Rights of Indigenous Peoples Act (DRIPA) has been underway with current provincial government since 2019, although this was not shared with the rest of B.C. population. It’s important to understand what this all means for owners of property in B.C. Be informed.

Seasonal Inspiration

Salt Spring Island oceanfront propertyMeantime, it’s energetic April, the explosion of Spring’s amazing beauty will be fully evident by the 26th, and it’s time to be part of this seasonal adventure. Open windows and doors, patio dining beckons, markets are there to welcome, movement is the suggestion of the season, and remember to be inspired.

The message of the season: no matter the global or local concerns, Spring remains a generous annual gift. Enjoy!

Salt Spring Island spring scenery

January 2026, Market Analysis


January 2026

Welcome to the New Year

Salt Spring Island

January is an interesting month. Named for the ancient Roman god, Janus, who had two faces (one looking behind and the other facing forward), this month begins with a continuation of late December and ends with the New Year in place.

January’s gift: every day is a little longer as the slow march to Spring is underway.

Winter landscape

The Five-Year Buyer Pause

Almost five years of hesitation, delay, and caution on the part of buyers characterized the post-COVID time. This hesitation in sales outcomes was a cross-Canada issue. At the same time, listing inventory remained low and pricings continued to be relatively stable. It may be that 2025 was the most unexpected and turbulent of the five year “buyer pause”.

Market conditions

2025: A Year of Turbulence

2025 saw Prime Minister Trudeau step down and also prorogue parliament. President Trump’s tariffs were put in place. A leadership contest for Trudeau’s federal Liberal party took place and then a federal election.

In B.C., the outcome of a 500 day court case occurred (Cowichan vs Canada), which was about land title. Is it indigenous title? Or fee simple title? It cannot be both. The NDP provincial government apparently did not allow the affected property owners to know about the case. Various appeals have gone in. The Premier recently said he would amend the U.N. Indigenous rights document…a week later, 50 tribes had signed paperwork to alert the Premier that there would be no amendments.

So, who owns a property in B.C.? The hesitation dance from buyers continues.

British Columbia

Looking Ahead: 2026 and Beyond

And 2026? Some well-known and successful Canadian pundits say a slow recovery will be underway, for most provinces. The unresolved title issue in B.C. may keep B.C. suppressed. No one has a crystal ball!

That said, the impact of AI and robotics implies new industries, new decisions…and therefore new and more likely more successful outcomes. Markets do have lives…it may be that 2026 & 2027 will bring new and positive results…things that are not necessarily on the radar of possibilities right this minute will appear. And what about crypto currencies? Hmmm……

Remember Janus: facing backward and also looking forward. I write this on January 1st, knowing that new ideas will be in place before the end of this month. I will report in.

Spring roots

The Root Level

Meantime, it’s January. This is the root level of the growth process in gardens and orchards. To a casual observer, the pastures and bare trees look dead. At the root level, it’s vibrantly busy. Suddenly Spring’s eruption of visible growth will arrive.

That’s our role right now. A time to get ready for that inspiring arrival. A restorative time to ready our personal roots for the new possibilities. What’s on your “to do” list? Share!

Year of the Fire Horse

Year of the Fire Horse

Oh, by the way, the Asian Lunar New Year begins on February 17. It’s the Year of the Fire Horse in 2026. That sounds active and spirited and new. Six weeks to be ready? Gallop on!

Happy New Year!

March 25th – Market Update – Times Colonist

Below, are some letters to the editor responses to the recent Times Colonist newspaper editorial, warning of the serious impact of Bill 7. The Victoria newspaper is available throughout Vancouver Island, and is to be commended for bringing Bill 7 to our attention. See below:

“Opinion: Times Colonist March 25, 2025”


Times Colonist


With his financial record, don’t give more power

The recent letters and the editorial criticizing Premier David Eby’s attempt to grant himself dictatorial powers through Bill 7 are well justified.

Justin Trudeau tried the same thing early in the pandemic, but was forced to retreat by public outrage and solidarity of the opposition parties.

B.C. citizens need to apply similar pressure with their local MLAs.

The type of judgement that has seriously weakened B.C. by turning a $5-billion surplus into an $11-billion deficit in the past two years is not the kind of judgment that should ever be given unfettered power.

Dan Graham – North Cowichan

Rational oversight needed for Eby

With respect to the NDP government’s proposed Bill 7, it seems Premier David Eby is taking a leaf out of Donald Trump’s playbook by trying to use a declaration of emergency to give him and his cabinet dictatorial powers to bypass the legislature and enact any kind of policies and actions be they related to tariffs or other matters.

This is both unnecessary and undemocratic and is typical of the high-handed governing style of this government.

Further, on counter-tariff issues, I think it is dangerous to the country’s overall interest if provincial premiers start taking individual actions outside of a co-ordinated strategy led by the federal government.

This is why some kind of rational oversight is required.

Graham Williams – North Saanich

Alice in Wonderland has lessons for Eby

Re: “Provincial government’s Bill 7 is a disgraceful overreach,” editorial, March 21.

Premier David Eby has run amok with Bill 7.

As the Queen of Hearts was wont to say in Alice in Wonderland, “off with his (legislative) head.”

Sayonara, Mr. Eby.

Rick Lee – Victoria

Pass this legislation at your peril

Re: “Provincial government’s Bill 7 is a disgraceful overreach,” editorial, March 21.

I couldn’t agree more with the editorial. I have been an NDP voter but if this bill passes, not anymore.

I am tired of a political class that believes they know best and the citizens should just thank them for their superior brain power.

The opposition parties that garnered one less seat than the NDP will not be permitted to debate anything, but the government will consult with Indigenous peoples who represent about 5% of the population. This is not democracy, it is a power grab similar to the “executive authority” used by Donald Trump.

Wayne Cox – Saanichton

Stand up to our leaders, make them work for us

Re: “Provincial government’s Bill 7 is a disgraceful overreach,” editorial, March 21.

There is old adage that hard cases make for bad laws. The threat to Canada makes for a hard case but Bill 7, the Economic Stabilization (Tariff Response) Act, is the epitome of a bad law. Not only is it unnecessary, its very existence does more harm than good.

Canadians have come together in unprecedented fashion to stand up to American threats and President Donald Trump’s insulting attacks. Canadian premiers have been tripping over themselves to get in front of the crowd.

Ontario’s Doug Ford bills himself as Captain Canada, threatening drastic retaliatory acts, then withdrawing them for lack of practicality, then threatening them again.

Alberta’s Danielle Smith and Saskatchewan’s Scott Moe are effectively threatening to sell out Canada by seceding from the federation if we don’t surrender our energy, potash and agriculture. And B.C.’s David Eby wants to go all Viktor Orbán and pull an end run around our democratic institutions.

Meanwhile, our newly minted prime minister is struggling to show the world a coordinated approach, bolstering the military, affirming alterative foreign alliances, and promoting trans-Canada trade but it’s a tough gig without a mandate and herding a room full of cats.

It’s time the 90 per cent of Canadians who want to save this country stand up to their leaders.

Force Eby to re-holster his Bill 7, Smith and Moe to start pulling in the right direction, and engage in a federal election to choose a national leader with the experience, skill and mandate to realign Canada’s economic, social, and international infrastructure so we can survive this bad case, united and strong.

Gerry Klein – Maple Bay

This bill would destroy our democratic system

Re: “Provincial government’s Bill 7 is a disgraceful overreach,” editorial, March 21.

Section 19 of Bill 7, the “Economic ­Stabilization (Tariff Response) Act” allows cabinet (read Premier David Eby, who has total control of cabinet) to “make a regulation under this Part for one or more of the following purposes: (c) supporting the economy of British Columbia and Canada.”

Of course, almost any regulation could be justified under such an undefined non-specific broad purpose. This government recently determined that it was “good for the economy” to take away vested land-use rights from people operating perfectly legal short-term rental businesses.

What might be next under this new law? Eliminating other established and lawful activities to react to U.S. demands, or appease the American president would be possible under Section 19.

We shake our heads in disbelief at how executive orders can be made in Washington with no input or involvement of their elected congress and senate.

How are Section 19 regulations any different? This ability to “un-make laws” previously duly enacted by our elected representatives in the legislature is nothing short of the destruction of our democratic system.

We do not react to a loss of control south of the border by allowing ourselves to lose control.

Bill 7 must be stopped.

Elgin Bulova – Victoria

Market Update – Election Day to be April 28th

 

Vote – Election Day to be April 28th

Federal Uncertainty is Over… for now…

Salt Spring Island

So, finally, the federal uncertainty is over…Trudeau stepped down in January and prorogued parliament. This left a void at the federal level, at the very time the U.S. tariffs were initially being considered.

A new Liberal party leader (Mark Carney) was chosen on March 9th, and then he assumed the role of Prime Minister. Today, he has advised the Governor General that he is calling a federal election…Election Day to be April 28th.

The Conservatives, the NDP, the Bloc, and the Green Party will be fielding candidates and running in opposition to Liberal Party candidates.

Mark Carney had advised Justin Trudeau since 2020, and this bid to remain in power is being described by opposition parties as a fourth term for Liberal policies.

It’s important to vote on April 28th…everyone’s voice counts. Be involved, check out the candidates in your riding. It is not a time for apathy.

The real estate markets across Canada have been in “pause mode” in the past two months…markets do not like uncertainty. With a decision as to who will be in charge, at the federal level, and whether in a minority or majority position, is essential to unfolding developments for our more local real estate markets.

At this time, inventory here remains low, and prices remain relatively stable. A desire for rural lifestyles and a sense that a real estate purchase in unique areas is a preservation of capital decision (which is about our bottoming dollar value) also continue to drive activity in secondary home areas.

It will perhaps take until mid-May to see a specific market direction locally for 2025.

As always, Stay tuned!!!

March 23, 2025 – Times Colonist

The concern about Bill 7 has had a North Vancouver writer (Caroline Elliott) observe the following, in Victoria’s Times Colonist newspaper. The Times Colonist is available throughout Vancouver Island and has an online version, too. See her commentary below:

Bill 7 enables Eby’s cabinet to do whatever it deems necessary to “support the economy of B.C. and Canada,” which is so broad it could include anything at all. – Caroline Elliott

Premier David Eby’s proposed Bill 7 would effectively suspend the democratic process in British Columbia for the next two and a half years.

Ostensibly intended to address the impact of tariffs, this autocratic bill — the Economic Stabilization (Tariff Response) Act — is not only unnecessary, but represents just the latest in a troubling pattern of disregard for democratic process by this premier.

This time, however, he can be stopped.

Eby, who formed government with the slimmest of majorities, is no doubt motivated by the prospect of avoiding uncomfortably close votes in the legislature as he pursues his own agenda.

As veteran columnist Vaughn Palmer puts it, this far-reaching legislation “would allow the cabinet to override provincial laws, regulations, authorities and even the legislature itself.”

Its extraordinary reach led Palmer to observe that, “in 41 years of covering B.C. governments, I’ve not seen a legislation as arbitrary and far-reaching this side of the federal War Measures Act.”

Conveniently announced immediately before the house recessed for a two-week spring break, Bill 7 enables Eby’s cabinet to do whatever it deems necessary to “support the economy of B.C. and Canada,” which is so broad it could include anything at all.

As columnist Rob Shaw explains, Bill 7 empowers cabinet to “amend any law, overwrite any policy, change any regulation, levy any fee, or gather anyone’s personal data with simply the stroke of a pen.”

Eby’s argument that Bill 7 is required to address tariffs is misleading. There’s nothing stopping him from convening the legislature at any time to pass any initiatives required to address the impact of tariffs.

Indeed, such extraordinary measures have not been implemented in any other province, or at the national level, despite the fact that these jurisdictions face the same tariffs.

But Eby’s disregard for democratic principles is not new.

Last November, he was denounced for reversing his commitment to hold a fall sitting of the legislature after October’s election. By not calling the house back as soon as possible, Eby avoided testing the confidence of the legislature, a crucial step in demonstrating the democratic authority of his government.

This act, rightly deemed by experts to be “an erosion of democratic norms,” meant the NDP had about four months, until February, to rule essentially unopposed.

Eby was also criticized for introducing the 2023 budget more than three weeks later than normal, delaying important matters of debate in a session he had already shortened by several weeks. This followed the cancellation of a week’s sitting of the previous session. This curtailed debate on two significant and controversial housing bills. These bills were aggressively pushed through.

One of those housing bills, Bill 44, is seriously undemocratic. It overrides decisions made by elected local governments by mandating the elimination of single family zoning in communities across B.C., nullifying official community plans (developed by elected councils on the basis of extensive public consultation), and eliminating the ability of local governments to hold public hearing processes on these matters.

This pattern goes back to the outset of Eby’s premiership. Eby was installed as NDP leader and premier without a vote among the party membership after his team successfully pursued the disqualification of his only opponent.

Time and again, Eby has demonstrated an “ends justify the means” mentality that sees democratic norms as optional in the pursuit of his agenda.

While rallying against President Donald Trump, Eby has consistently copied his methods.

It’s not too late to stop him.

There are 47 NDP MLAs, 41 Conservatives, three independents, and two Greens in the legislature. With the Conservatives and Independents set to oppose Eby’s deeply flawed bill, all NDP MLAs and the two Greens should think hard about how they will vote.

Will they support Eby’s efforts to deny their own constituents their elected voice in the legislature? Or, will they find their democratic conscience and stand up against this authoritarian bill?

In the likely event that NDP MLAs succumb to pressure from the premier, the Greens can still prevent the bill from becoming law.

By voting with Independent and Conservative MLAs against Bill 7, the Greens could render a 46-46 tie in the legislature.

The 47th NDP MLA serves as Speaker, and Parliamentary convention holds that the Speaker only vote in the case of a tie, and that they cast their vote to protect the status quo (i.e., against such radical legislation).

Proposing amendments to the bill, as the Greens have said they’ll do, is not enough. A message needs to be sent, loud and clear, that our democracy is not negotiable.

Unless NDP and (or) Green MLAs find it in themselves to stop Eby’s overreach, or Eby reverses course due to public dissent, it seems likely this shameless circumvention of democratic process will pass.

Let’s not give up our democracy without a fight. Tell your friends, speak up, and reach out to your MLA.

Demand they vote against Eby’s heavy-handed attempt to deny you your democratic voice.”

Stay tuned!

 

Market Update – March 9th, 2025


March 9, 2025

Who will assume the new role of Prime Minister?

So, the forecasted outcome has been settled. Today, Mark Carney won the Liberal leadership “race” to replace Trudeau. He will also assume the role of Prime Minister.

It is expected that he will call for an immediate election. After being prorogued by Trudeau, the parliament will convene again March 27-29.

By changing the face of the leader, the federal Liberal party is hoping to continue as the party in power, going forward. Mark Carney also advised Trudeau, and was close to his policies…as was Christya Freeland (who also ran for Leader)

The U.S. tariffs issue will affect Canada.

Unfortunately, the federal government was not seeking economic health in the past several years of being in power. The current head of the BOC (Bank of Canada) had been trying to alert the party in power of this disturbing fact in both 2023 and 2024.

It’s also odd that it’s only now that long-standing barriers to inter-provincial trade are being discussed. This inability to trade between provinces has nothing to do with tariffs.

Some provinces may be more affected than others, but the usual way of doing business has changed. Reciprocal tariffs will be in place. April 2nd has been mentioned as the date this will begin. More later…