Kelowna Real Estate News – Vancouver Buyers Still Active September 2016!

Hi All, Everyone has been wanting to know whether the Foreign Buyers Tax will affect the numbers of Kelowna Real Estate Buyers coming from the Vancouver area. In the latest results from the Okanagan Mainline Real Estate Board’s September 2016 Buyer Survey Results, the answer…

Hi All,

Everyone has been wanting to know whether the Foreign Buyers Tax will affect the numbers of Kelowna Real Estate Buyers coming from the Vancouver area.

In the latest results from the Okanagan Mainline Real Estate Board’s September 2016 Buyer Survey Results, the answer would appear to be ‘ not at the moment’, as Buyer numbers are up, coming from Vancouver and the Lower Mainland.

Interestingly, there were also fewer investors buying last month. Lack of Inventory may be a factor there.

 A total of 369 responses representing 42% of the 879 deals closed on behalf of Buyers in September.

Central Okanagan Buyers Survey September 2016 

Property Type:
type-of-kelowna-real-estate-buyers-sept-2016

19.8% by Relocating and moving to similar property type (up from 18.2% in August)
19.6% by Move-Up Buyers (up from 16.2%)
16.8% by Buyers Downsizing (up from 13.4%)
15.2% by First Time Buyers (down from 18.4%)
12.5% buying Revenue/Investment Property (down from 15.4%)
5.7% moving from Single Family Home to Strata Unit (down from 5.8%)
4.9% buying Recreation Property (down from 8.1%)
3.5% moving from Strata Property to Single Family Home (up from 1.8%)
2.7% moving into Retirement Home/Seniors Community (up from 1.5%)

Buyer Type (Family Dynamic):
27.7% Couple without Children (up from 21.1% in August)
21.5% Two Parent Family/Children (down from 28.9%)
20.7% Empty Nester/Retired (up from 20.3%)
15.2% Single Male (up from 12.9%)
10.6% Single Female (down from 11.2%)
3.3% Single Parent with Children (down from 3.8%)

Moving From:
where-okanagan-buyers-came-from-sept-2016

52.3% from Within OMREB Board Area (down from 54.0% in August)
21.5% from Lower Mainland/Vancouver Island (up from 16.5%)
12.8% from Alberta (down from 15.8%)
6.8% from Other Areas in BC (up from 6.5%)
3.5% from Eastern Canada/Maritimes (up from 2.3%)
1.6% from Outside Canada (down from 2.8%)
1.4% from Saskatchewan/Manitoba (down from 2.3%)
0% from NWT/Yukon (no change from 0%)

Kind Regards

Trish and Tanis Real Estate
Tel 250 863 8989

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Trish & Tanis
trishandtanis@gmail.com
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