Three Vancouver Island locations, as well as Kelowna, are enjoying a recreational-property resurgence, a new RE/MAX report has shown.
median price in Tofino on Vancouver Island leaped ahead 24 per cent from May 2013 to May
2014, with nearby Ucluelet recording an 11-per-cent jump in the same
period. Mount Washington the Vancouver Island ski resort and
the year-round getaway of Kelowna had housing prices climb seven per
cent in the last year.
Part of this is Canadians
are once again finding value north of the border, after a serious
housing slump in the U.S. and a powerful loonie saw many choose Phoenix
over the Okanagan when it came to getaways.
Now with the U.S.
market rebounding, prices are up 25-30 per cent in Phoenix and a
diving dollar trading in the 90-cent-US range has turned eyes northward.
We are seeing Canadians investing in Canada again. People are looking
lifestyle and legacy. With technology the way it is, you can do business
second home here in Kelowna.