Recreational property in B.C. still red hot: Report
A new Royal LePage report says prices and sales activity for recreational property in B.C. continue to climb.
Royal LePage Manager for Western Canada Jim Morris says B.C. will never go out of style as a recreational destination.
He says a number of factors point to higher prices, “Increased demand, increased prices and driven by a lack of inventory.”
Last month, the average price for a recreational property was nearly $600,000.
“There’s no one place in the province, it’s all over. Vancouver Island is benefiting from increased demand, the Okanagan has always been a desirable location, and Whistler, the Kootenays, just everywhere.”
Okanagan Valley tops the list for most expensive properties at $2.1-million followed by the Gulf Islands and Sunshine Coast.
The report also says less than 10 per cent of the buyer pool are foreigners.
© 2017 Global News, a division of Corus Entertainment Inc.