Real estate market stays steady through Spring start

The chaos created by threats of tariffs and a tradewar is the likely reason for a cooler start to the spring housing market.

“Political uncertainty associated with the federal election, combined with broader economic concerns stemming from the United States tempered our brisk spring market growth,” Victoria Real Estate Board Chair Dirk VanderWal said in a media release. “The good news is we remain in that sweet spot of inventory, which we currently find is between 3,000 and 4,000 listings.”

VanderWal, who spoke to The Chamber’s Public Policy and Advocacy Committee on Tuesday along with VREB CEO David Corey, said that having available inventory is good for buyers, sellers and the 1,600 real estate agents working in our region.

“Currently, single family homes in certain price ranges are in demand and may see multiple offers, while there is a larger supply of condos waiting for buyers,” VanderWal said.

The benchmark value for a single family home in the Victoria Core in April was $1,344,800, up from March’s value of $1,335,300. The benchmark value for a condominium in April was $566,100, up from the March value of $560,400.

Chamber championing ferries’ future resonates with Island communities

The Chamber’s efforts to bring a business perspective to the future of our most vital transportation link has captured the attention of policy makers and business associations on the Island and across BC.

A letter penned by The Chamber on behalf of 20 organizations was sent to BC Premier David Eby last week. The letter makes the case for revisiting the recent decision by the BC Ferries commissioner to only approve four new vessels instead of the five required to meet demand.

The request was picked up by media during an interview with the Premier, who agreed that the vessels are needed.

“I think we need boats that are going to be able to serve the public well into the future here in British Columbia,” Eby told reporters. “It’s critical for commerce, for tourism and as the Island Highway for so many families and businesses.”

The Chamber supports efforts to reduce costs faced by taxpayers, and is grateful the provincial government has heard our calls to invest in ways that grow the economy for everyone. The attention on the issue has also raised the potential for federal funding to be part of the solution.

“Affordability is about more than just fares and yet there’s nothing that requires the commissioner to apply that lens,” Chamber CEO Bruce Williams wrote in the letter about the need for infrastructure that drives business, industry and tourism.

Read The Chamber’s column

First cruise ship of the season arrives March 6

This year’s cruise ship season begins March 6, when the Disney Wonder is scheduled to arrive at 8 am before departing at 5 pm from Pier B at The Breakwater District at Ogden Point.

“As we embark on the 2025 cruise season, we are thrilled to welcome visitors from around the world to our vibrant city,” Greater Victoria Harbour Authority CEO Robert Lewis-Manning said in a media release. “We look forward to providing a warm, authentic welcome that showcases the rich culture and hospitality of our community.”

The Disney Wonder carries up to 2,700 passengers and 950 crew, and its arrival marks an early start to the season, as cruise ships deployed in other parts of the world typically return to the West Coast in April to prepare for their voyages to Alaska.

Cruise ship season gets fully underway April 4 with the arrival of Holland America’s Koningsdam. In total, 320 cruise ship visits are currently scheduled this year.

Last week, The Chamber reported on a big win for businesses downtown as our advocacy efforts helped relocate the shuttle stop for cruise ships ahead of the season

Esquimalt seeks feedback on transportation work

Improvements to help smooth the flow of traffic through the Township of Esquimalt continue to be made. The municipality wants to hear from people and businesses who use Esquimalt Road to make sure work continues on the right path.

Esquimalt’s Active Transportation Network Plan was endorsed by council in 2022, outlining several key priorities for the township. One recommendation was creating an improved east-west route, with Esquimalt Road and Lyall Street identified as the top options. The project also includes storm and sewer infrastructure upgrades.

Residents and affected businesses can share their thoughts on route options, and view the project boards to find maps and details about the options. A survey is open until Jan. 27.

The municipality is also hosting an open house on Jan. 16, from 4-7 pm, in the Craigflower Room at the Esquimalt Rec Centre.

Esquimalt businesses can also book a one-on-one meetings with staff to discuss any questions about this phase of the project. The goal of these meetings is to is to go over business-related ideas, questions and concerns as they relate to this project.

Email engineering@esquimalt.ca to book your meeting and learn more about the proposed designs between Joffre and Canteen roads. Times are expected to book up quickly and meetings will be available:

  • Friday, Jan. 17, 9am – 4pm
  • Monday, Jan. 20, 10am – 4pm
  • Friday, Jan. 24 9am – 4pm.

Construction underway on Uptown transit hub

A contract has been awarded to a Nanaimo firm to build out the Uptown Mobility Hub in the District of Saanich.

Major improvements to the Saanich neighbourhood are planned to make it easier for people to take the bus to get around the region. This transit hub will become the region’s principal RapidBus exchange and route connector.

Construction is expected to be completed by summer, including a new roadway, four new bus stops with shelters and dedicated bus lanes. The project also focuses on pedestrian safety and active transportation by improving crosswalks and intersections, and creating new multi-use pathways to build connections to the adjacent Galloping Goose Regional Trail network. The improvements are designed to increase housing supply, promote sustainable transportation options and enhance overall livability.

The provincial government is contributing $15.5 million and the federal government is providing $4.5 million.

Postal workers ordered back to job

Snail mail isn’t often top of mind — although getting letters delivered has become the talk of the town, even with the Canada Post strike coming to an end. The impact on the holidays could be devastating for some, especially charities that rely on an annual intake of December donations for a bulk of their revenue.

Stepping up to help, Maximum Express Courier, Freight & Logistics has agreed to deliver donation cheques while carrying out their regular business.

“Maximum Express will pickup your donation cheque from any donor to the charity of your choice for free,” Maximum Express’s Al Hasham said. “Please email info@maxcourier.com or call our team at 250-721-3278 to arrange your pickup.”

On Dec. 13, the federal government stepped in by asking the Canada Industrial Relations Board to assess the situation. On Dec. 16, the board ordered workers to resume operations as of 8 am local time on Dec. 17.

 

“Given the timing and duration of the strike, when our operations resume we will need to begin processing the mail and parcels trapped in our network. It will take time to clear our network, so customers should expect delays in processing and delivery,” Canada Post said in a statement.

“Some limitations will apply for the first 48 hours after our operations resume – including for pickups and drop-offs. Because of this, we will not receive or pick up new product until Thursday, December 19.”

 

BC Ferries faces challenges head on with creativity and innovation

The Greater Victoria Chamber of Commerce hosted the final event in its 2024 Business Leaders Series, with a breakfast with BC Ferries CEO Nicolas Jimenez on Tuesday, Nov. 26, at the Union Club of BC in Victoria.

More than 100 business and community leaders attended the breakfast, which featured a presentation by Jimenez followed by a Q&A session with Chamber CEO Bruce Williams and questions from the audience.

Jimenez addressed the recent news that BC Ferries was changing its advisory committee structure, as well as a call to add five new ships to the fleet.

“We know that BC Ferries has been working to improve how they manage their sailings, which is really important to businesses that transport groceries and other goods to the Island. I think our members appreciated hearing Nicolas explain how those improvements have resulted in fewer cancellations and better certainty for business,” Chamber CEO Bruce Williams said. “However, the ferry system has served the province for six decades and still has ships and terminals that were built in the 1960s. The Chamber is supportive of the work BC Ferries is doing to modernize its fleet and introduce efficiencies that will ensure future generations have an even stronger and more environmentally sustainable transportation link.”

Jimenez spoke about the importance of BC Ferries for people and families. The bulk of passengers are travelling for work, to attend appointments or visit family members. Tourism make up a smaller but vital segment of BC Ferries total passenger base, he said.

Going forward, the ferry operator understands it needs creativity and collaboration to address its challenges.

“If we are to close this funding gap that I described, we’re going to need to pull every lever that we can,” Jimenez told the Times Colonist. “We’re going to have to get very creative and we’re going to have to balance the needs of the system around reliability and resilience with affordability.

“So without prejudging what that’s going to look like, I think we’re going to have to have all policy options on the table.”

Feds step in to end labour disputes at Canadian ports

The Chamber was part of advocacy efforts that succeeded in ending the recent labour disputes that had shut down vital ports across Canada.

The Chamber was a signatory to a letter that went directly to federal Minister of Labour and Seniors Steven MacKinnon. That effort helped push the Canada Industrial Relations Board to announce on Tuesday that it will impose final binding arbitration to resolve labour disputes at ports in British Columbia, Montreal and Quebec.

This decision will swiftly end disruptions and resume port operations, while extending current collective agreements until new ones are finalized.

“As an Island economy, we need our supply chains to operate efficiently,” Chamber CEO Bruce Williams said. “Any disruptions can have critical impacts on businesses ability to plan with certainty.”

Ferries celebrates milestone for zero-emission ships

The new boats might symbolize the future of ferry service, but a recent ceremony marking a significant construction milestone dates back to the age of wooden ships.

On Nov. 1, BC Ferries celebrated the successful keel laying of the first two of four fully electric Island Class vessels at Damen Shipyards Galați in Romania.

“The keel laying is a significant milestone, not just in the construction of these ships, but in our journey to provide enhanced capacity and service reliability for our customers while moving towards a cleaner, more sustainable fleet,” BC Ferries CEO and President Nicolas Jimenez said in a media release. “These ferries will not only reduce our environmental impact, but also increase capacity, improve service reliability and provide a quieter, more efficient travel experience for our customers.”

Jimenez, who will speak at a Chamber Business Leaders breakfast on Nov. 26, welded a coin to the central frame above the keel of each vessel, symbolizing good fortune for the ship and its future passengers. The coin chosen is a 1 oz pure silver coin, depicting five orcas off British Columbia coast.

BC Ferries plans to begin using the zero-emission ferries by 2027 on routes between Nanaimo and Gabriola Island, and Campbell River and Quadra Island. Each vessel will carry up to 390 passengers and 47 vehicles, operating with zero emissions by utilizing renewable shore power for battery charging. They will replace older vessels and expand the Island Class fleet, which already includes six hybrid diesel-battery electric ferries introduced in recent years.

Greater Victoria cruise ship season concludes today

Today marks the end of cruise ship season as the Greater Victoria Harbour Authority welcomed the 316th ship to call at the Breakwater District at Ogden Point this year.

More than 700,000 passengers of about 930,000 that arrived here disembarked their ship and explored Victoria’s attractions, landmarks and restaurants.

“The industry remains a strong economic driver for Victoria. The Alaska itinerary is an important growth market,” GVHA CEO Robert Lewis-Manning said in a media release. “The GVHA team is already looking towards the future, with a similar number of cruise ship calls anticipated for 2025. We will continue listening to our communities and improving the cruise experience for passengers, local businesses and residents to ensure everyone benefits from this growing sector.”

Our cruise ship industry contributes $130 million annually to Greater Victoria’s economy and helps create 800 jobs. The Breakwater District at Ogden Point is Canada’s busiest port for ship calls.

“The Chamber has supported the development of our region’s cruise industry since ships began calling at Ogden Point. Every cruise ship season now provides a substantial contribution to our regional economy and its workforce,” Chamber CEO Bruce Williams said. “Of course, as with every industry, there are always challenges, especially around the environment. I think all of us take pride in our region’s well-deserved reputation for climate action leadership, and in the work being done locally by the cruise ship industry to reduce its carbon footprint. The Chamber will continue to support our community partners, and I expect we’ll see more innovations led by business brought in before the start of next year’s cruise season.”