A Unique Look at the Okanagan Residential Property Market (2008-2018)
Heading into the Spring 2018 Okanagan Peer Group session we wanted to help you, the senior leaders of your Credit Union with a tool to look into your communities to understand specific residential property (median) price and volume trends since 2008. These specific residential property types are those deemed ‘waterfront’ by BC Assessment, along with a simple 1 kilometer radius of various golf courses and ski hills in the region. (Properties grouped into three categories: Attached, Detached and Condo).
For this analysis we’ve presented the data over a ten year period (2008-18), thus enabling a broad view of the residential market from the real estate melt down/ credit freeze impact from 2007 through the most recent ‘boom years.’ In addition, for this presentation we’re also focusing in on just the first 2 quarters of each year to allow more of a comparative view on market performance leading up to the announcement of the ‘speculation tax’ – which is set to be in place for July 1st 2018.
Curious about the broader impact on your markets?
Note:
1. Data is not provided for First Nations Lands
2. Some property types may not have values due to insufficient data
3. Only valid sales have been considered for the analysis (cash transaction):
- Improved single property cash transaction
- Vacant single property cash transaction