Downtown Boom
Downtown Boom
Over the last few years, the secret is out about the Okanagan – Kelowna in particular. Our incredibly high quality of life ratings led to an incredible boom in both the residential and commercial real estate markets, leading to growth that’s pushed us beyond the status of a little vacation town into Canada’s fastest growing city.
In fact, from 2016 to 2022, Kelowna saw a municipal growth rate of 14%! If there were any doubts before, the last few years most certainly put us on the map. Whether you believe it or not, our community is expecting yet another boom, specifically in the downtown core, thanks to UBCO’s upcoming downtown campus. Reports are claiming that our growing city will see our student population increase from 12,000 to 20,000 students by 2024. Alongside this growth our local property market will continue to flourish, with projections of 1% average housing price increases for every kilometer closer properties are to the University.
Our property market is one of the most prosperous and unique in the entire country, and I couldn’t be more happy to help guide you through this growth. So, despite some reports claiming that the market will cool this fall, rest assured that this is only a bump in the road for our ever-growing community.
Additional Reading
Spring Housing is Blooming
March is finally here, which means the sun is about to shine and the market is about to thrive! Historically, the Kelowna and Okanagan spring housing markets are where we start to see the first surges of activity for the year. When we consider that only a couple of...
Reduced Rates and Rental Registry
Another wave of changes are making their way to the Kelowna housing market. In late January, we saw two significant events take place - BC’s short-term rental registry rollout, and the Bank of Canada’s overnight interest rates getting reduced down to 3%. Kelowna’s...
Is Kelowna’s Market Stabilizing?
Kelowna’s real estate market in 2024 was a bit of a wild ride. The year kicked off slowly, with high interest rates making it tough for many buyers to afford homes. It wasn’t just Kelowna feeling the squeeze - this was a trend we saw happening across all of British...
