{"id":6606,"date":"2017-08-08T10:10:22","date_gmt":"2017-08-08T17:10:22","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=6606"},"modified":"2017-08-03T19:30:15","modified_gmt":"2017-08-04T02:30:15","slug":"enterprising-buyers-from-metro-vancouver-are-driving-up-demand-for-recreational-real-estate","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2017\/08\/enterprising-buyers-from-metro-vancouver-are-driving-up-demand-for-recreational-real-estate\/","title":{"rendered":"Enterprising Buyers from Metro Vancouver are Driving Up Demand for Recreational Real Estate"},"content":{"rendered":"<p style=\"text-align: justify;\">Vacation properties across British Columbia are seeing increased demand and correspondingly accelerated price growth\u2014a development spurred on by denizens of Metro Vancouver continuously snapping up cottages situated within reasonable travelling distance from the city.<\/p>\n<p style=\"text-align: justify;\">\u201cLow inventory levels and the return of consumer confidence are driving prices up in recreational markets across the province,\u201d according to Royal LePage Western Canada manager Jim Morris, as quoted by Western Investor.<\/p>\n<p style=\"text-align: justify;\">The latest edition of the Royal LePage Canadian Recreational Housing Report noted that B.C. recreational properties now sell for an average of $595,077, with the most expensive ones in Okanagan Lake or the Gulf Islands going for roughly 2 up to 4 times the average cost.<\/p>\n<p style=\"text-align: justify;\">\u201cWe have seen homeowners selling in Vancouver and buying recreational property in areas like Denman Island, causing a significant decrease in available supply this year,\u201d Royal LePage Comox Valley sales representative Sylvie Schroeder stated. \u201cYounger families in particular are buying up local acreages in order to practise sustainable farming, which is a fast-growing trend in our area.\u201d<\/p>\n<p style=\"text-align: justify;\">\u201cRecreational sales activity has increased significantly on the Gulf Islands,\u201d Royal LePage Nanaimo Realty sales agent Janet Moore added. \u201cWe have finally seen the return of buyers to smaller regions within the Gulf Islands, driven by both interest in recreational activities and retirement.\u201d<\/p>\n<p style=\"text-align: justify;\">The study came in the wake of similar findings by the annual Re\/Max Recreational Property Report earlier this year. The latter also uncovered that demand for vacation properties has become more pronounced among younger buyers, with 73% of agents surveyed stating that young families with children are among the primary buyers of this real estate type.<\/p>\n<p style=\"text-align: justify;\">\u201cA notable finding is that 21% of Canadian homeowners would downsize their main residence in order to purchase a cottage, cabin or ski chalet,\u201d Re\/Max Western Canada regional executive vice-president Elton Ash said.<\/p>\n<p><a href=\"http:\/\/www.canadianrealestatemagazine.ca\/news\/study-records-intensified-demand-for-british-columbias-vacation-cottages-228973.aspx\" target=\"_blank\" rel=\"noopener\">Study Records Intensified Demand for BC Vacation Cottages<\/a> by Ephraim Vecina | Canadian Real Estate Wealth<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Vacation properties across British Columbia are seeing increased demand and correspondingly accelerated price growth\u2014a development spurred on by denizens of Metro Vancouver continuously snapping up cottages situated within reasonable travelling &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2017\/08\/enterprising-buyers-from-metro-vancouver-are-driving-up-demand-for-recreational-real-estate\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-6606","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Enterprising Buyers from Metro Vancouver are Driving Up Demand for Recreational Real Estate &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2017\/08\/enterprising-buyers-from-metro-vancouver-are-driving-up-demand-for-recreational-real-estate\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Enterprising Buyers from Metro Vancouver are Driving Up Demand for Recreational Real Estate &#8226; 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