Well, the market certainly seems to be slowing in the cities but what about little Salt Spring?
So far we have lots of Buyer interest (mainly from Vancouver with Victoria and other parts of Canada also in the mix). Our prices are rising sharply in the lower to middle range of housing, likely because the stress test has reduced the borrowing power of many so they can borrow less and thus need to look for less expensive properties....I'm talking in the $600,000 and under properties.
Above $600,000 up to around $1,000,000 has steady interest and over $1,000,000 is more of a "Buyers' Market.
Contact me if you want more information/advice on buying on Salt Spring. The comments I get from Buyers coming from Vancouver is that they need to get out of a noisy, crowded and very expensive city. We have 10,500 people, three ferry terminals and the noise is pretty minimal...those chickens can cause a bit of noise at feeding time, of course. :-) Oh...and no traffic lights!