The facts are easy to find.  Victoria has had a drastic drop in listings.  When a market that generally has 4,200 to 5,300 properties for sale on MLS to suddenly find itself with as few as 1,500 listings, the competition is fierce.  The prices were bid up.  And this bidding was 95% from domestic buyers.  

We often disagree but you usually post more fact-based comments than this one.  Your question about a 20% raise is a red herring.