Real Estate: more houses for Sooke
As published in MapleLine Magazine: Aug.5, 2009
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by Mary P. Brooke
Ground is breaking with new residential construction in several Sooke locations.
Ground
is breaking in several Sooke locations for the construction of a variety
of property types in the Sooke area. To name a few, these are some of
the developments at various stages of start-up and completion: Harbour
View Center (oceanview condos); Heron View Villas (townhomes); Mariner’s
Village (condos, townhomes, commercial and office space, and possibly a
public wharf); Sooke Bay (luxury condos); and Clearbrook Estates
(smaller houses).
With a 6-month average MLS house sale price of $388,620 in Sooke (at Jun.09), and prices seemingly on the rise (June’s single month average was high for Sooke at $421,682), Sooke suffers the double-edge sword of being considered affordable while trying to maintain affordability amidst rising costs for construction as well as municipal taxes and services. [Insert at Sept.1: In August, Sooke's single family home average price was $417,903 compared to $596,498 for the entire Greater Victoria area. See www.vreb.org for current MLS prices.]
Nowadays there are some new aspects to the building and buying of homes. At Clearbrook Estates (entrance from Grant Road) significant environmental planning was done allowing a fish-bearing stream to run unaffected on the property. A 20-meter natural green buffer zone was created between creek and construction to protect original natural vegetation and the stream.
The footprint of new home construction (whether smaller houses from 1,400 sq.ft.+ at Clearbrook or some condo units as small as 555 sq.ft. at Harbour View) appear to be a trend that suits both builder and buyer.
In the realm of first-time buyers there is a slow but noticeable shift
to seeing some downpayments coming from parents and other family members
(contrasting the “save up for a down-payment” style of yester-year). “At
today’s average wages and cost of living it makes sense for older
parents to help young adult children with a start into property
ownership,” says Tammi Dimock, a Realtor with Royal LePage Coast Capital
Realty in Sooke.
As part of the go-ahead from the District of Sooke, some developers provide value-added construction (e.g. public-use space or sidewalks) within the deal. MM
REAL ESTATE ADVERTISERS in the Fall 2009 PRINT ISSUE: George Holmes, property and strata manager, Kahl Realty and Tammi Dimock, Royal LePage Coast Capital Realty.
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This article (as first published on page 9 in the print edition of Fall 2009 MapleLine Magazine), is Copyright 2009 Brookeline Publishing House Inc.