Rainbow Hill - 4045 Rainbow Street, Victoria, V8X 2A8, 2 levels, 20 townhomes, Estimated completed 2012, crossroads areRainbow Street and McKenzie Avenue. Perched atop one of the highest points in Greater Victoria, The Rainbow Hill at Saanich is an up-scale community with extraordinary views of the city, the Strait of Juan de Fuca, and the Olympic Mountains beyond. This project includes 12 single families, 27 town homes, and two condominium buildings with total 77 units.
Durable, energy efficient and attractive homes are set among leafy sidewalks, community trails and extensive green spaces. Both single family houses and town homes combine the West coast modern architecture with natural surroundings, matched with contemporary floor plans and clad in natural materials. Contemporary three bedroom homes feature high ceilings, floor to ceiling windows, Maple Wood flooring, custom cabinets, Quartz countertops, glass tiled backsplash, high-end stainless steel appliances, and spa-inspired bathrooms with radiant in-floor heating, ceramic tile floors, Caesarstone countertops and deep soaker tubs. Large private decks invite outdoor entertaining, and attached two car garages welcome residents of every home.
Rainbow Hill is adjacent to the Swan Lake Christmas Hill Nature Sanctuary, just minutes from downtown Victoria to the south and the Victoria International Airport and Swartz Bay Ferry Terminal to the north and Victoria General Hospital to the west. The location offers excellent access to transit service and is within a 1 km walk to a diverse range of amenities including Pacific Christian School, Rogers Elementary, St Andrew's Regional High, playgrounds, retail and professional offices, restaurants and a supermarket.
Rainbow Hill Technical Info
||4045 Rainbow St
||SE High Quadra
|Listing Price Range
|Units in Development: ||4|
|Units in Strata:||27|
Rainbow Hill MLS® Listings And/Or Area MLS® Listings
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Typical Floor Plan (Click image to go to BCFP)
Area Rentals From Craigslist
Click on the map to go to LIVE map of Saanich East.
Area Rentals From Padmapper
Victoria Real Estate Board Update
Victoria Real Estate Market Continues to Stabilize
October 1, 2018 A total of 533 properties sold in the Victoria Real Estate Board region this September, 16.7 per cent fewer than the 640 properties sold in September of last year, and a 10.3 per cent decrease from August 2018. Sales of condominiums were down 30.4 per cent from last year in September with 149 units sold. Sales of single family homes were down 9.2 per cent from 2017 with 285 sold this September.
"This year's housing market has continued to behave as we've expected, moderating after the record setting pace of 2016 and adjusting to various government measures such as tightening mortgage qualification rules that were intended to cool the market," says Victoria Real Estate Board President Kyle Kerr. "We continue to see a reduction in sales when we compare to recent years and prices stabilizing across the market, with some variation in value in niche, higher end homes."
There were a total of 2,646 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of September 2018, an increase of 5 per cent compared to the month of August and 33.9 per cent more than the 1,976 active listings for sale at the end of September 2017.
"If you are considering buying or selling a home, you need to understand your local market, particularly in the context of your property type and price point," adds President Kerr. "Micro markets in our area behave very differently as they are influenced by different pressures. The under $800,000 housing market in some areas is under tremendous pressure as many buyers compete for these homes. The multimillion-dollar market in other areas is currently experiencing less pressure and we can see price flexibility coming into play in the 1.5 million dollar plus market. And although we saw a bump in inventory at the start the year, those inventory levels have stabilized as well. So buyers still face a market with much less inventory available than the historical average. Your local REALTOR® can help you understand the best way forward for your selling or buying plans based on current and granular data and market insights."
The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in September 2017 was $832,000, while the benchmark value for the same home in September 2018 increased by 6.2 per cent to $883,700, slightly lower than August's value of $888,300. The MLS® HPI benchmark value for a condominium in the Victoria Core area in September 2017 was $457,700, while the benchmark value for the same condominium in September 2018 increased by 9.9 per cent to $503,000, exactly the same as August's value.
About the Victoria Real Estate Board - Founded in 1921, the Victoria Real Estate Board is a key player in the development of standards and innovative programs to enhance the professionalism of REALTORS®. The Victoria Real Estate Board represents 1,379 local Realtors. If you are thinking about buying or selling a home, connect with your local Realtor for detailed information on the Victoria and area housing market.
View our press release and summary here.
View our complete statistical package here.
For More Information
Victoria Real Estate Board
Denise Hogue, Communications Manager
Frank Rudge October 2017 VREB Report
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Frank Rudge Victoria Market Report for May 2017
Sales were down 22% for may over last year. Listings are up 12% from last year.
Signs of moderation showing in Victoria says VREB
The Victoria Real Estate Board’s Crystal Ball Housing Forecast says that there are signs of moderation in the market, despite all the elements needed for a healthy housing market – strong economy, low unemployment, still-low interest rates.
Victoria Real Estate Board forecasts moderation in the market
||Canadian Real Estate Wealth
This BC city just saw its biggest homebuilding boom since 1976 - will it continue this year?
In December alone, contractors broke ground for 775 homes, up from 204 housing starts observed during the same month in 2017, according to the Canada Mortgage and Housing Corporation (CMHC), which tracks homebuilding activity each month through surveys and site visits.
Victory saw the highest level of housing construction in 2018