It’s going to be a great 2011 for Kelowna real estate
Posted by paige on December 31, 2010 | No Comments
This past 3 weeks is probably one of the busiest real estate “holidays” I’ve ever had. The phones were ringing and people were on the move. Most of those buying or selling have all the same reasons as in years past with a few exceptions: Most feel that real estate prices are at their lowest and most feel that interest rates will slowly but surely go up in the next year.
Canadian Mortgage and Housing Corporation has released their stats and confirmed what we already know… Kelowna is a hot commodity! Most notably, CMHC says that employment opportunities will increase in 2011. Thinking of an investment? Rents are expected to increase with inflation in 2011 and on top of this our vacancy rate is expected to go down from an already low level of 3.4%. Increasing enrollment at UBC Okanagan will bring jobs and parents with children who need a place to live (did I mention investment opportunity?). Kelowna General Hospital’s expansion will be complete and bring more jobs and people looking for housing. There are even some new housing projects going to be started in 2011. I predict a stellar year ahead. Be safe and take care.
Happy New Years everyone!
Talk to you soon…
Paige
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