Tuesday, March 3, 2009

So Where are the BEST Places to Invest in BC Real Estate? Here are the BC Top 10 Growth Cities for Property Investments According to a REIN Survey

The Real Estate Investment Network by Don Campbell Announces British Columbia's TOP 10 GROWTH TOWNS in BC Property Market

With some surprises and others not so much, the Real Estate Investment Network of Canada released their BC Top 10 Growth Cities in the province for the next years. As Don Campbell advises, these are great times to purchase BC real estate, especially with the low interest rates that are likely moving up as well as dropping prices. Don Campbell mentions that it is too difficult for homebuyers these days to predict the bottom, and in many cases, miss out on great BC real estate deals by just waiting for a larger drop in prices. More factors should weight in on your final decision, and interest rates are definitely at the top of the list right now. This survey had to depend heavily on the different expectations homebuyers have as well as their perception of what the economy is like. In addition, the smaller cities mentioned in the BC Top 10 Growth Towns for real estate investment are considered less liquid as it would probably be more volatile and may take longer to sell with a smaller population base looking for property. Don Campbell mentions that BC real estate investing is not a short-term investment, it should be a long-term investment of at least five to nine years. The study used twelve economic fundamentals to rate the top 10 BC growth cities for real estate investing from economic development to demographis. By purchasing any type of BC real estate, Don Campbell advises you to do your due diligence and check out the economic fundamentals of the top 10 growth cities in BC before making any purchase decision.

This year, even with the economic downturn globally and a housing price drop and slow sales volumes, the BC Top 10 Growth Cities for real estate investing as brought to you by the Real Estate Investment Network present many opportunities for both homebuyers and BC real estate investors, The survey by the Real Estate Investment Network has chosen the following Top 10 BC Real Estate Growth Towns:

#1 - Surrey is the best place to invest in BC real estate according to the survey. With rapid population growth coupled with growth in economy, business and industry, Surrey tops the list for the Top 10 BC Growth Cities this year. In addition, Surrey is close to major transportation routes and has a higher renter population than most other BC Towns.

#2 - Maple Ridge and Pitt Meadows makes the top 2 for Top 10 BC real estate growth cities as mentioned in the survey. With major transportation routes finishing in the next few years at Gateway and TransLink, community to and from Maple Ridge and Pitt Meadows will be awesome.

#3 - Abbotsford makes the top 3. The perennial top growth city in BC is consistently up here becuase of its rapid population growth coupled with high growth areas in industry, business and retail. A diversied economy, making it one of the BC Top 10 real estate growth cities.

#4 - Kamloops is the first non-GVRD city to make the Top 10 BC real estate growth cities this year. As both a transportation and a vacation destination, there is new industry and business enterting Kamloops in the Okanagan. Housing starts have rapidly declined and led to all time low vacancy rates which will not get any better.

#5 - Dawson Creek and Fort St. John - With BC oil and gas exploration just starting, these two industries will have a profound influence on where property prices go in the great white north. Just like Alberta, the natural gas resources are phenomenal around Dawson's Creek and St. John has more oil and gas drivers that will ultimately raise the real estate values. However, the property values are very dependent on these commodities and will fluctuate wildly during energy demand cycles. However, Dawson Creek and Fort St. John make it to the Real Estate Investment Network BC Top 10 Growth Cities.

#6 - Kelowna - another Okanagan vacation hot spot, Kelowna makes it onto the Top 10 BC real estate growth cities with a trading area servicing more than four hundred and fifty thousand people. It is a recreationl and business capital in this region with rental revenues one of the hightest in the country.

#7 - Comox Valley - This is where the armed forces are stationed and with proven economic stability and an airport that services both major cities in Canada, the Comox Valley makes it to the Top 10 BC real estate growth cities in the survey by the Real Estate Investment Network. However, the slowing real estate market means that rental rates have not increased as much as other growth cities, making positive cashflow in your first years quite difficult to attain in the Comox Valley real estate market.

#8 - Penticton - Another Okanagan city makes it to the BC Top 10 Real Estate List with both agriculture and tourism pushing the housing values up. Strong population growth and not much construction activity have limited the number of rentable homes, making rental rates skyrocket.

#9 - Vancouver - Yes, what is a list of the Top 10 BC real estate growth cities without the largest city of them all? The olympics will certainly put Vancouver on the world map again, but with rising inventory and lots of speculators investing in real estate, property prices may not climb as quickly as one may think. With Vancouver, it has a stable economy and growing population, and once construction dies down, there may be another rental housing shortage which will push rates and housing value up.

#10 - Prince George - Diversity in economy and a growing population are just some reasons why Prince George make it to the Top 10 BC real estate growth cities. Here, there are also rail links with Prince Rupert, which makes it less isolated than before.

Buying a Investing in a Surrey Condo? Great Choice!

As published earlier by the Real Estate Investment Network, in a recent survey, it turns out that Surrey real estate and growth potential is #1 in BC! And shortly after, the Metro New Vancouver newspaper published this article that explains why: Sweet for Suites in Surrey real estate market by Sam S for Metro Vancouver. Surrey real estate condos is turning into one suite place according to this newest BC real estate survey by the REIN Network. According to a report released yesterday, B.C.'s fastest growing city is a home buyer's dream. "It's such a large area that it has every type of housing, and every demographic," said REIN presidnet, Don Campbell. "As a homeowner or an investor [in Surrey real estate market], there's a plethora or choices available." Between the years 2006 - 2008, Surrey real estate reported an increase in resdiential construction spending of more than $193 million to just more than $1 billion, making it the top in BC. And despite rising gang activity in the area, Campbell said he believes investments in Surrey condos and other housing types are safe choices. "We're looking out five to seven years, (gang) problems are one of those short term issues that will get cleaned up," he said. Projects in that time period include the four lane South Fraser Permieter Road coming from Delta and the new Gold Ears Bridge in Langley. According to Don Campbell, this will help unclog the Port Mann Bridge, allowing Surrey to be more accessible. Therefore, the BC Top real estate investments are in Surrey.

Labels: , , , , , ,

Bookmark and Share