Having grown up and worked throughout the Cowichan Valley, I’ve seen firsthand how mortgage rates can ripple through our local housing market. Recent research by Canada’s central bank highlights a pattern I often notice here: when interest rates drop, more buyers jump into the market almost immediately, and the true surge in resales shows up 18 to 24 months later. Builders, on the other hand, take about two years before new housing starts pick up, since planning and permits—especially for multi-unit homes—are never quick. Strong job markets make buyers even more confident, so homes can move fast. But as someone who’s spent years helping people navigate the process of buying and selling here (and who’s managed both customer service teams and home renovations), I know that lower borrowing costs alone don’t solve our affordability puzzle. The researchers agree: supply takes time to catch up with demand, and rate cuts alone won’t make housing truly affordable. It’s a complex dance—one I’m always here to help you understand as you make this Valley your home.
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