Housing Demand Forecast to Rise Through 2015, BCREA
Housing Demand Forecast to Rise Through 2015, BCREA. I have included the BC Real Estate Association’s report for this month. BCREA Chief Economist Cameron Muir discuss the April 2014 statistics. Muir points out historically low mortgage interest rates, population growth, employment growth and upturn in net migration are all contributing factors to the increased housing demand. See video below and full article from BCREA is included below the video.
Vancouver, BC – May 15, 2014. The British Columbia Real Estate Association (BCREA) released its 2014 Second Quarter Housing Forecast today.
BC Multiple Listing Service® (MLS®) residential sales are forecast to increase 5.2 per cent to 76,700 units this year, before increasing a further 6.7 per cent to 81,800 units in 2015. The five-year average is 75,400 unit sales, while the ten-year average is 84,800 unit sales. A record 106,300 MLS® residential sales were recorded in 2005.
“BC Home sales are expected to trend higher this year and in 2015, as stronger economic conditions both at home and abroad bolster consumer demand,” said Cameron Muir, BCREA Chief Economist. “While historically low mortgage interest rates are a key market driver, population growth led by a strong upturn in net migration and more robust employment growth are expected to generate additional housing demand.”
The average MLS® residential price for the province is forecast to increase 4.3 per cent to $560,500 this year and a further 2 per cent to $571,500 in 2015. Increasing consumer demand combined with fewer homes for sale has created balanced market conditions in most BC regional markets, resulting in home price appreciation more in line with overall consumer price inflation.
Kamloops Home For Sale: 5885 Todd Road, Barnhartvale Executive Acreage Property, B.C. $899,000
Kamloops Home For Sale: 5885 Todd Road, Barnhartvale Executive Acreage Property, B.C. $899,000.
This home is located in the heart of Barnhartvale on city water and sewer, there are 2 bedrooms and a den on the main floor with an oversized master bathroom and walk in closet. There is a nice living room and formal dining room for entertaining as well as a large kitchen with granite counters and marble backsplash, that is open to a family room and large nook area.
Skylights add to the brightness of this home. There are patio doors off the the family room and master bedroom. There is access to the saltwater hot tub from the master bedroom.
The basement level has 3 additional bedrooms, a 3 piece bathroom, tons of storage including a canning room and secure storage, and a huge rec room with double outside doors.
The property itself has award winning landscaping with a spacious patio that is very private overlooking the property. The property is fully fenced for horses and includes paddocks, 16X24 shed, and 26×80 shop with mezzanine. There is also an attached 2 car garage with heaps of extra parking for all your toys and extras.
There is potential to subdivide lot. Many more extras contact us for listing brochure.
Barnhartvale is located 15 minutes east of downtown Kamloops. This community sits in the hills above Dallas and south of the Thompson River.
There are not any larger shopping developments in Barnhartvale but there is a small corner store on Barnhartvale Road. The closest shopping is either in Dallas where a few smaller retailers exist or a 15 minute drive into the Downtown Kamloops area. Valleyview also has a number of retailers which is a 10 minute drive away. To get to the larger big box stores which are located in Sahali and Aberdeen the drive is approximately 15 to 20 minutes.
Barnhartvale has a local community elementary school for students kindergarten to grade 7. Highschool students attend Valleyview highschool and have school bus service from Barnhartvale. Thompson Rivers University is located 20 minutes from this home.
There is a local BC transit route through Barnhartvale and the bus stop is located very close to this home.
To view all homes for sale in Kamloops click here.
Kamloops Home For Sale: 801-44 Whiteshield Crescent South, B.C. $186,900
Kamloops Home For Sale: 801-44 Whiteshield Crescent South, B.C. $186,900. Nicely updated end unit in Sahali apartment.
This home features two bedrooms and two bathrooms with a modern open floor plan. Close to school, transportation and shopping, making it central to all of your city needs.
Updates throughout including newer flooring and paint. There is a covered patio off of the living area with access to lawn space. Call to make an appointment.
There are a number of elementary schools in Upper Sahali including McGowan Park Elementary, the french immersion elementary school South Sahali Elementary and Summit Elementary.
Thompson Rivers University is located in Southgate. The campus is positioned at the intersection of Summit Drive and McGill Road. TRU is a fully accredited University and offers a variety of programs and courses to students in many different areas of study. Sahali is often a very popular area for University students to stay due to the close proximity to the University.
Sahali houses a number of Kamloops grocery stores and shopping. Save-on-foods, Superstore, Safeway, Toys-R-Us, Office Depot, Winners, Homesense and Zellers are a few of the major stores in the Sahali area. There are a number of restaurants and popular shopping destinations in this area as well.
There are a number of professional offices in the Sahali area. Sahali Centre Mall, Tudor Village and Sahali Professional Centre to name a few. You will find lawyers, doctors, mortgage specialists, banks, insurance brokers and much more in this area.
At the top of Summit Drive, there is a very popular water park called Albert McGowan Park, which is a popular place for neighbourhood kids to cool off in the summer and toboggan in the winter.
Throughout Lower and Upper Sahali there are a number of parks and green spaces. The Sahali area has everything close at hand, shopping, entertainment, schools for all ages, and park land. This is why it is one of the most popular regions of Kamloops.
Peterson Creek Park runs through most of Sahali from top to bottom. This is a 423 hectare park that is a natural creek corridor. There are over 30 kilometers of trails in the park and many sites to enjoy including panoramic valley views and Bridal Veil Falls. There are numerous access points and the park is equipped with picnic tables and grassy areas to enjoy.
Tournament Capital Centre is located in Southgate which is only a five to 10 minute drive from any Sahali neighbourhood. TCC has many different facilities all in one building such as gymnastics, swimming, indoor track, fitness facility, courts and much more. There are also a number of sports fields that surround the facility.
Sahali is serviced by BC Transit busses on a frequent and regular schedule. Click here to view the BC Transit website.
To view all homes for sale in Kamloops click here.