According to the Vancouver Island Real Estate Board’s (VIREB) September statistics, sales of single-family homes in their region, which covers from Duncan to Port Hardy, decreased by 32 per cent compared to September 2017 with Nanaimo down 36%, followed in order by Parksville, Campbell River, the Cowichan Valley, Port Alberni, and the Comox Valley at 21%.
The 2016 Buyer Profile provides statistical information summarizing “home characteristics” for VIREB’s overall board area within its boundaries. These include Duncan-Cowichan Valley, Nanaimo, Port Alberni-West Coast, Parksville- Qualicum, Comox Valley, Campbell River, North Island, and the Islands.
At 81.5 per cent, owner-occupiers continue to be the primary buyers in the VIREB area.
In 2016, 26 per cent of homes that sold were under $250,000, 51 per cent were under $350,000, and 68 per cent sold for under $500,000, Only 1.4 per cent of homes in the VIREB area sold for more than $1 million dollars.
At 58 per cent, single-family detached homes represented the majority of purchases in 2016, with condominium apartments accounting for 10 per cent of purchases and townhomes garnering 7.2 per cent of total home sales.
In terms of aggregated buyer origin, home purchasers break down as follows:
- 31.6 per cent from Vancouver Island;
- 41.6 per cent from elsewhere in British Columbia (Vancouver and the Fraser Valley make up 27.8 per cent of that figure);
- 24.2 per cent from elsewhere in Canada; and
- 2.6 per cent from outside of Canada.
Receive up-to-date information on building permits, tenders, proposed developments and construction news for the Comox Valley, Campbell River, Port Hardy, Powell River and more locations on the North Island at BuildingLinks.ca.
A total of 4,886 single-family homes sold on the Multiple Listing Service® (MLS®) in the Vancouver Island Real Estate Board (VIREB) region in 2015, an increase of 13 per cent over the 4,335 sales recorded the previous year. Both the benchmark and average prices increased last year, up 6.91 per cent and four per cent respectively. Inventory levels were at their lowest since 2005. Limited inventory continues to place upward pressure on prices.
Ever wondered where the warmest, sunniest spot in all of Canada is? Look now further than Fairwinds Resort on Vancouver Island. And as luck would have it, this site is a real estate development offering a stunning golf course, marina, and ocean view properties.
Fairwinds Resort offers the perfect location for discerning buyers seeking the quintessential West Coast lifestyle. Real estate developments currently selling within the resort area include the Fairwinds golf-course communities of Bonnington Ridge, Bonnington Heights, and Rockcliffe Park each offer a unique opportunity to embrace an active lifestyle in a location that is “city-close yet country-quiet.”
The Bonnington Ridge neighbourhood is a cul-de-sac of fully serviced single-family lots, many with ocean and golf-course views. Homes at Bonnington Ridge integrate first-class luxury living with the natural beauty and tranquility of the surrounding area. Bonnington Ridge has three remaining lots: Lot SL4 is .54 acres and $229,000; Lot SL5 is .36 acres and $239,000; and Lot SL6 is .35 acres and $289,000.
At nearby Bonnington Heights, only one residential lot is left. Perfectly situated for a new custom home, Lot 42 on Bonnington Drive comprises .43 acres and is priced at $159,000.
Rockcliffe Park features a limited collection of luxuriously modern patio homes in a natural park setting. Choose from three elegant floor plans to create your ideal home. The patio homes in Rockcliffe Park are designed for entertaining and low-maintenance living, offering a modern look with vaulted ceilings, gourmet kitchens, and exterior stone accents.
Why Choose Fairwinds?
With over 700 homes and home sites developed to date, Fairwinds is centrally located between Nanaimo and Parksville in Nanoose Bay, on the east coast of Vancouver island. Blessed with Canada’s mildest climate and conveniently accessed by car, ferry, boat, or plane, Fairwinds features a spectacular golf club, Schooner Cove Marina, and a recreational fitness facility.
For more information on building a custom home at Bonnington Ridge or Bonnington Heights, call 250.468.7061 or 1.866.468.5957, or visit the Rockcliffe Park website.
NANAIMO, BC – Multiple Listing Service (MLS) sales summary data for August released by the Vancouver Island Real Estate Board (VIREB) shows housing sales activity across Vancouver Island was up 38 per cent compared to last year. The average price of a single-family home sold within the VIREB region in August 2013 was $339,809, which is an increase of four per cent from the average sale price recorded in August 2012. There was a significant increase in unit sales for August 2013, where 391 units were recorded, in comparison to August 2012, when 283 single-family homes sold. However, when looking at these same figures over a 12-month basis, units sold only grew by one per cent, while the average price actually dropped one per cent to $329,502.
How Will Emerging Contract Security Trends Affect Your Business? Get the Answers at VICA’S Member Meeting on September 18!
Do you know how emerging trends like subguard compare to other options in contract security? Do differences between the options negatively impact stakeholders or benefit them? Get the answers to these questions at the upcoming Vancouver Island Construction Association (VICA) member meeting:Developing Trends in Contract Security September 18, 2013 7:30 a.m. to 11:00 a.m. Laurel Point Inn 680 Montreal Street Victoria, BC
This topic will be of particular interest to general contractors, trade contractors, construction managers, project managers, owners, architects, and engineers. A wide range of industry perspectives will be presented and discussed, followed by a question-and-answer period.
Terry Brown will be your facilitator and featured panelists include :
- Owner – Rick Gudz, CFB Esquimalt Site Manager, Defence Construction Canada
- Insurer – Zurich Insurance
- Surety – Randy Singh, Construction Services Account Executive, HUB International
- Surety – Dave Bentley, Construction Services Account Executive, HUB International
- General Contractor – Anibal Valente, VP, PCL Constructors Westcoast Inc.
- Trade Contractor – Russ Hepworth, President, Tech Mechanical
One sponsorship spot is currently available for this event. Please contact firstname.lastname@example.org for information regarding this opportunity.
This event is free for VICA members and $75.00 for non-members. To become a VICA member, visit their website.