Victoria Multi-Family Market Report Q4 2019

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research article

Given the strong demand fundamentals that continue to dominate Greater Victoria’s rental housing sector, downward pressure on vacancy rates continue to exert upward pressure on rental rates.

  • Institutional investors and REITS showed increased investor interest in Greater Victoria through 2019 with apartment sales at a high of $500M with increased demand for newly built product. 
  • The Greater Victoria rental vacancy rate sits below 2% for the sixth consecutive year. 
  • Average rental rates increased by 3.4% from $1,170 per month in 2018 to $1,221 in 2019. 

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Victoria Multi-Family Market Report Q4 2019

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Sim Waraich

Research Coordinator

Victoria

Sim graduated from the University of Victoria with a Bachelor of Commerce with a focus in Finance and Accounting. Prior experience includes working with Colliers in the Valuation and Advisory Services department in 2017. In 2018 Sim worked with the  British Columbia Investment Management Corporation  with the Investment Valuation team. 

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Tyler Dolan

Managing Director, Vancouver Island

Victoria

As Managing Director, Tyler is responsible for execution of Colliers business strategy on Vancouver Island.  Tyler has and has been active in the commercial real estate industry since 2001, and spent the majority of his career in both real estate and commercial finance with major financial institutions. In May 2018, Tyler assumed the role of Managing Director for the Colliers Vancouver Island office.

Tyler's priorities include business development, employee engagement, professional development, recruiting, financial management and performance, market identity and public relations. Tyler also takes an active role to ensure that all services offered by Colliers are offered to our clients.

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