Despite oscillating outlooks on B.C. real estate, 20 of the province’s neighbourhoods are included in a list of the Top 100 Canadian neighbourhoods to invest in.
Yaletown, South Surrey, Kelowna North and Victoria’s Fairfield are included in the report by Canadian Real Estate Wealth magazine.
The rankings aim to help investors identify exact locations for investors to focus on “as a hedge against short- or long-term corrections,” said a news release.
High demand in trendy Yaletown in Vancouver means favourable returns in both retail income and property value appreciation, while south Surrey – where houses average $1.1 million – was cited as a hot spot in B.C.’s second largest city.
The Okanagan, traditionally considered a retirement community, should catch the eye of investors because of record levels of students entering kindergarten as part of the changing demographics of Kelowna North, said a mortgage broker from Verico Financial Group, which helped compile the list, along with Re/Max Real Estate.
Unique character homes and tree-lined streets in Victoria’s Fairfield neighbourhood create robust rental rates for investors, says the report.
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The report used “extensive industry analysis and statistics” including population, average home price, capital growth and vacancy rate. The edition will be available on newsstands on Oct. 22.
Other B.C. neighbourhoods in the top 100 report:
- Mill Lake (Abbotsford)
- North Burnaby
- Coquitlam Town Centre
- Central Dawson Creek
- North Delta
- Sahali (Kamloops)
- South Langley
- Central East, Maple Ridge
- Old City Quarter of Nanaimo
- Sapperton (New Westminster)
- Lower Lonsale (North Vancouver)
- Northern Oxford Heights (Port Coquitlam)
- The Bowl District (Prince George)
- Hamilton (Richmond)
- Gordon Head (Saanich)
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