The Victoria mortgage market through fresh eyes

The Victoria mortgage market through fresh eyes

The Victoria mortgage market through fresh eyes One of the Victoria mortgage sector’s newest faces, Connor Gann holds an economics degree from the University of Victoria, which he attended on a golf scholarship. After a successful varsity and professional run – including multiple games on PGA TOUR Canada – Connor turned his analytical talents to the world of finance. As a mortgage professional for a little over a year now, Connor continues to hone his industry experience in the residential and commercial spheres.

From your perspective, how is Victoria looking right now?
Most noteworthy is the commercial segment, as new buildings are going up all over the place. In Victoria, you can’t really expand outward that much since we’re not landlocked, so developments keep moving upwards in the quest for greater usable space. Buildings are just growing taller.

As a relatively new mortgage professional, what are the challenges that you encounter in Victoria?
I’d say that the biggest issue right now is getting my name out there and building the trust of clients. The Victoria mortgage market is heating up, so establishing strong connections with realtors and prospective clients is a must. I find that building from relationships formed in social events is quite helpful.

What do you think draws people to Victoria?
I think one factor is definitely the climate. Also, Victoria’s reputation as one of Canada’s best cities to live and work in has definitely attracted its fair share of property buyers. In my eyes, demand will remain strong for a good while as competition tightens due to scarce availability and space, as mentioned earlier.

Read more: Western Canadian commercial real estate trends

What are your clients’ most pressing needs at the moment? How do you approach these issues?
I’d say the most difficult challenges are the federal real estate rules that have made it much more difficult for first-time buyers. Finding financing has become more of a burden, especially for those with no stable income streams such as self-employed individuals.

As for assisting them in these issues, I believe it’s the broker’s job to tailor their approach to the particular needs of each client, so that they can secure the solution that best fits the situation.