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Surrey Is The Hottest Investment Market


Surrey is the hottest housing investment market in British Columbia

According to a Real Estate Investment Network, Surrey is the hottest market for housing investment in British Columbia, followed by Maple Ridge/Pitt Meadows in second postition and  Kamloops holding the third spot. Read the full report here.

The report looked at the prospects invetment opportunities across the province of British Columbia and identified the towns and cities projected to outperform in the nedt 10 years. Some of the key factors used in the study included:

The rate of population growth compared to the provincial average

  • New infrastructures being built to handle population growth.
  • Current and new employment opportunities in the area.
  • Potiticall stability and leadership in ceating growth in teh area.
  • Local leadership to take advantage of the economic and real estate growth.
  • Planned transportation improvements and other infra structures projects to support growth.

The towns that were ranked trom top to bottom 11 spots are:

  1. Surrey
  2. Maple Ridge and Pitt Meadows
  3. Kamloops
  4. Abbotsford
  5. Fort St. John
  6. Dawson Creek
  7. Kelowna
  8. Comox Valley
  9. Penticton
  10. Prince George
  11. Vancouver

Affordability and proximity would be the likely reasons for investors from Greater Vancouver and Faser Valley buying investment properties in Surrey, Maple Ridge/Pitt Meadows and Abbortford.

If you are looking for homes suitable for investment in these areas, you can check out the homes for sale using the links here for Surrey, Meadowridge and Abbotsford.

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Fraser Valley Sales Report - October


October home sales for Fraser Valley

The real estate market in the Fraser Valley including Mission experienced below average home sales the past 6 months. Combined with a regular addition of new listings, the market now has a good supply of homes reaching 8.23 months of inventory. It is a buyers market where home buyers have a wide selection of homes to choose from. Read the full report here.

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According to the president of the Fraser Valley Real Estate Board, Sukh Sidhu, “There is action when the property is competitively priced.

“It is not a quiet market. Priced-right properties are selling thanks to the continuation of low interest rates.” Sidhu adds, “What’s happening is that there is a large amount of inventory available in the Fraser Valley, in particular with condos and townhomes, and that’s what’s holding prices in check.” 

View homes for sale in Surrey, Langley, Abbotsford and Chilliwack.

The October benchmark  price of a single family detached home in Fraser Valley was $530,335 which was of 4.9% higher than $505,759 in October 2010.

For townhouses, the benchmark price was $325,482, an increase of 2% as compared to the same month last year.

The benchmark price of apartments at $243,725 was 1.3% higher than that of October 2010.

Condos are facing severe price pressure as there are now more condos on the market, and it took 75 days to on average to sell a condo. Detached homes were doing better at 45 days, while townhomes took on average 55 days to sell.


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