Vancouver Island Housing Prices and Starts Soared in 2017

Posted on Feb 15, 2018

Building Links has recently tabulated the year-to-date construction statistics for the Comox Valley and Campbell River areas for 2017. Construction values in all areas total $217 million, up by $11 million from 2016 to 2017.

Single-family home construction is also up slightly in Comox, Courtenay and Campbell River (6 per cent to 13 per cent) with Cumberland showing the biggest increase of 120 per cent and the CVRD coming in with an increase of 19 per cent.

Secondary suite and carriage home construction has increased significantly by 159 per cent from 2016 to 2017.

Moving forward into 2018, we expect to see continued high prices for residential housing due to lack of supply of zoned land and lots. In the Comox Valley, the average sale price of a single family lot hovered around $240,000 and in Campbell River, the average sale price of a lot was $150,000. To purchase a lot in the Campbell River area is $90,000 less expensive than in the Comox Valley.

In the Comox Valley, 889 single family homes were sold in 2017 and the average price was $491,428, an increase of 19 per cent in the past 12 months.

In Campbell River, 613 single family homes were sold in 2017 and the average price was $407,174, an increase of 18 percent in the past 12 months. (Information courtesy of Kutyn Appraisals).

What can we expect on Vancouver Island, moving forward into 2018? Higher prices in all areas of the residential sector.

Victoria’s increase in prices for residential housing is affecting most markets on Vancouver Island. According to a report from the Canadian Housing and Mortgage Corporation, published in January, 2017, Victoria had historically high housing starts for 2017. Multi-family structures accounted for the majority of housing starts, with elevated rental market starts pushing the total starts to its highest level since 1976. December of 2017 reflected this trend, with a 70 per cent increase in multi-family starts compared to the previous year.

Metro Victoria’s housing market showed strong price growth and overheating throughout the year, giving builders and developers strong incentive to break ground on new projects.

Clarice Coty is the editor of Building Links.
Contact: clarice@buildinglinks.ca or
find Building Links on Facebook

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Crown Isle Resort and Golf Community – 25 Years and Still Growing!

Posted on Feb 13, 2018

Photo Credit: Kristy Pedersen

The Crown Isle Resort and Golf Community is celebrating 25 years! The first homes in the Crown Isle Resort & Golf Community were constructed over 25 years ago and the community continues to grow as a master-planned community that has stood the test of time.

The owners and development team behind this prestigious real estate development believe much of the community’s success can be attributed its Registered Building Scheme & Design Guidelines which have ensured consistency and quality from the beginning, while helping to maintain property values within the master-planned golf community. 

The Crown Isle Community boasts wide, meandering roads which provide a spacious and scenic feel throughout the neighbourhood. Single family homes, patio homes and condominiums are situated on and around the golf course.

Golf course and mountain views abound from many of the established homes and available building lots throughout the community.

With the increase in demand for newly constructed homes in this desirable community, Crown Isle now has 14 different approved builders constructing new homes to meet the demand for new residents moving into the community. Find out more about about the Crown Isle community from this video

For more information contact:
Jason Andrew, Director of Real Estate
Cell: 250.207.0070
Email: jandrew@crownisle.ca

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Crown Isle Community is Expanding as New Lots are Being Built in 2018

Posted on Jan 26, 2018

Silverado Land Corp., the real estate division of the Crown Isle Resort and Golf Course community is expanding with the addition of two major subdivisions.

Site services and road work is underway for Phase 3 of The Rise and construction is expected to be completed in April or May.

Additionally, there are 67 lots being built on the extension of Crown Isle Drive, in Cambridge Park Estates. This subdivision is expected to be completed in the summer of 2018.

Lot prices in The Rise are expected to start at $195,000; lot prices in Cambridge Park Estates are expected to start at $250,000. Many lots are already reserved in both subdivisions.

Make your inquiries now to find out more about the beautiful Crown Isle Resort and Golf Community in Courtenay, BC on beautiful Vancouver Island.

Note: Prices are subject to change without notice

For more information, contact:
Jason Andrew, Director of Real Estate
Cell: 250.207.0070
Email: jandrew@crownisle.ca

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Riverwalk Centre in Courtenay Features Loft-Style Condos and Commercial Space

Posted on Jan 5, 2018

Courtenay’s new Riverwalk Centre is a mixed used building, featuring 16 unique modern condominiums with lofts all featuring views of the mountains or of the river and ocean. These loft-style homes are located on the upper floor of the building. The ground and mezzanine floor are zoned to accommodate commercial and office space.

The unique design of this building makes it a first of its kind in Courtenay. The developer, Highstreet Ventures Inc. (Scott Butler) along with partners Don Bell and Matt Butler of Traine Construction Ltd and one other investor have built four projects in Courtenay, including The Tides, a 45-unit condo project alongside the river, a Holiday Inn Express on Cliffe Ave and the recently constructed and sold out 71-unit residential condominium project called Riverstone.

Highstreet Ventures Inc. has jsut been honoured by PROFIT 500 on its 29th annual ranking of Canada’s Fastest Growing Companies.

The residential units are all designed differently, ranging in size from 551 sq. ft. to 1,101 sq. ft. There are 16 floor plans to choose from and the prices range from $229,000 to $399,900. Some of the features include: 15’ ceilings; large 7’ tall windows in every home; loft bedrooms that open to the living room below; open concept kitchen, dining, and living space, quartz countertops in the kitchens and bath; large format tile flooring throughout; and Energy Star stainless steel appliances and range hood exhaust fan.

Sliding barn style bedroom doors are featured in premium suites. There is a large shared rooftop patio for all residents to share. These units are expected to be released for sale on Jan. 6, 2018, with occupancy expected in February 2018.

Tenants who have purchased office/commercial space on the main floor include chiropractors, therapists and mortgage
brokers. Other tenants have expressed interest in the building. To date, there are three spaces left, ranging in size from
881 sq. ft. to 2,900 sq. ft., with prices ranging from $242 to $252 per sq. ft. to purchase the office space.

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Tour Riverside Senior Living With Family This Holiday Season

Posted on Dec 26, 2017

The Comox Valley has been bustling with out of town guests this holiday season. Are you hosting friends and family from out of town this holiday season? Or are you traveling to the Comox Valley to visit loved ones?

If you are visiting elderly parents, you may be having conversations about their living arrangements as they begin to need more assistance.

Riverside Senior Living, Courtenay’s newest Independent Living Community for Seniors, will be open and offering tours of their show suite through the holiday season. Renovations have now begun to convert a section of the Best Western Westerly Hotel into senior living residences, and Riverside Senior Living will be ready to welcome residents in Spring 2018.

Learn how convenient it would be for friends and family to visit and stay at the hotel, while enjoying everything the community has to offer. Enjoy the many holiday activities in the Comox Valley and plan to return year after year.

To arrange a tour and learn more about the amenities at Riverside Senior Living, contact them today.

Phone 250.331.4010 or Pre-register online

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New Home Construction Has Begun in Phase II at The Ridge

Posted on Dec 24, 2017

New home building is now underway in Phase II at The Ridge. Many homes are under construction and three of their premier home builders are busy. Lawmar ContractingBrando Construction and one of their newest builders, Candor Developments all have new homes under construction.

This new phase includes 43 single family lots with zoning to accommodate secondary suites.

Contact any of the premier builders at The Ridge for more information on new homes for sale:

From all of us at The Ridge, we wish you a Happy New Year!

Phone: Bruce Clapham 250.650.8588
Email: theridge.bruce@mail.com
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