Kelowna Becomes Western Canada’s Investment Hot-Spot
Kelowna Becomes Western Canada’s Investment Hot-Spot
While the weather may be cooling down, Kelowna’s housing market continues to heat up. Western Investor just selected Kelowna as the #1 hot-spot for real estate investment in Western Canada, largely due to our city’s increasing levels of housing production, office vacancy rates, and high-volume airport traffic despite the current population size. With a lot of new units under construction and no signs of slowing down, the residential, commercial, and industrial markets are all set to succeed this year.
And it looks like we’re not the only ones – the MLS is reporting that BC’s overall home sales increased 19.3% year-over-year in October, with Greater Vancouver area sales increasing a whopping 45%! With all this activity, the average price of a home in BC has gone up 5.1% according to BCREA.
Are you as excited as I am? Let’s talk about how to make the most of this incredible local market potential!
Additional Reading
Where To Go Next?
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Winter Buyer’s Market Ahead
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Mortgage Rate Debate
Over the last ten years, Canadian mortgage rate fluctuations have had significant impacts on the Kelowna real estate market. This year we’ve already seen the Bank of Canada reduce mortgage rates twice, bringing the current overnight rate down to 4.5% - and it’s got a...
