They are the kind of price hikes not seen in a long time. A newly released report on housing prices in the central Okanagan shows that some areas are seeing an increase of up to 23 per cent.
“When we we talk about Vancouver and their market going crazy, that’s what you are hearing, 20-plus per cent, same thing with Toronto when that market exploded, it was 20- plus per cent,” AJ Hazzi said, who authored the report for Vantage West Realty. “So it’s definitely newsworthy when you see 20-plus.”
Hazzi, whose company authored “The Vantage Report” said the 20-plus per cent increases haven’t been seen in about a decade.
The following is a breakdown of 15 communities in the central Okanagan and the increases those areas have seen between Jan.-June 2016 and the same time period in 2017.
Community 2017 2016 % Increase
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- West Kelowna Estates $666,471 $541,755 23%
- Black Mountain $757,259 $615,727 22.9%
- Mission $977,126 $795,278 22.9%
- Rutland $512,975 $421,603 21.7%
- Glenrosa $502,996 $413,690 21.6%
- Westbank $510,079 $428,113 19.2%
- Glenmore $638,967 $543,310 17.6%
- SE/Crawford $945,126 $812,051 16.4%
- Shannon/Smith $640,163 $564,534 13.4%
- Dilworth $839,044 $748,974 12%
- Lake Country $773,046 $703,155 9.9%
- Peachland $623,292 $571,655 9%
- University $707,857 $662,318 6.9%
- Downtown $642,524 $612,681 4.9%
- Lakeview Heights $808,993 $775,618 4.1%
For the full report,click here.
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