Where are the Kelowna Real Estate Buyers coming from – Oct 2017 Report?

Seems like it was a busy month for Investors Buying in the Kelowna Real Estate Market and surrounding area! The results of OMREB’s AUGUST 2017 Buyer Survey have been a little delayed but are now in! A total of 369 responses representing 42.4% of the 870 deals…

Seems like it was a busy month for Investors Buying in the Kelowna Real Estate Market and surrounding area!

The results of OMREB’s AUGUST 2017 Buyer Survey have been a little delayed but are now in!

A total of 369 responses representing 42.4% of the 870 deals closed on behalf of Buyers in August.

Property Type:
20.4% buying Revenue/Investment Property (up from 15.1% in July)
18.0% by Relocating and moving to similar property type (down from 18.9%)
15.8% by Buyers Downsizing (up from 13.4%)
15.0% by First Time Buyers (down from 16.9%)
14.7% by Move-Up Buyers (down from 16.6%)
7.4% buying Recreation Property (up from 5.8%)
4.9% moving from Single Family Home to Strata Unit (down from 7.3%)
3.5% moving from Strata Property to Single Family Home (down from 4.5%)
0.8% moving into Retirement Home/Seniors Community (down from 2.0%)

Buyer Type (Family Dynamic):
29.4% Two-Parent Family/Children (up from 28.8% in July)
22.0% Couple without Children (down from 26.3%)
19.8% Empty Nester/Retired (up from 19.3%)
12.5% Single Male (up from 9.8%)
12.0% Single Female (down from 12.8%)
5.4% Single Parent with Children (up from 2.8%)

Moving From:
56.9% from Within OMREB Board Area (up from 56.4% in July)
17.3% from Lower Mainland/Vancouver Island (up from 16.8%)
13.0% from Alberta (up from 11.3%)
4.9% from Other Areas in BC (down from 6.8%)
4.1% from Eastern Canada/Maritimes (up from 3.5%)
1.9% from Saskatchewan/Manitoba (down from 2.0%)
1.6% from Outside Canada (down from 3.0%)
0.3% from NWT/Yukon (no change from 0.3%)

Kind regards

Trish and Tanis

Tel 250 863 8989



Source: |

Trish & Tanis
trishandtanis@gmail.com
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