Property Type:
27.7% of purchases were by Move Up Buyers
14.9% Moving from Single Family to Home Strata unit
10.6% by First Time Buyers
6.4% buying Revenue/Investment Property
6.4% Recreation Property Buyers
6.4% moving into Retirement Home/Seniors Community
5.3% moving from Strata property to Single Family Home
Family Dynamic:
32.3% of Buyers were Two Parent Families with Children
24.2% Empty Nesters or Retired
17.2% Couples without Children
13.1% Single Females
10.1% Single Males
5.1% Single Parent Families with Children
Financing:
54.2% financed via Conventional Mortgage (with more than 20% down)
34.4% paid by Cash
13.5% by High Ratio Mortgage (less than 20% down)
1% required Rental Income to Qualify for Financing
Moving From:
54.5% from Within OMREB Board Area
21.2% from Alberta
12.1% from Lower Mainland/Vancouver Island
5.1% from Other Areas in BC
5.1% from Manitoba/Maritimes
2% from Saskatchewan/Manitoba
0% from Outside Canada
Moving To:
56% of purchases were in Kelowna/West Kelowna
13% in Vernon/Coldstream
10% in Shuswap/Revelstoke (other than Salmon Arm)
10% in Central Okanagan (other than Kelowna/West Kelowna)
6% in Salmon Arm
5% in North Okanagan (other than Vernon/Coldstream)
April 2011 Survey Results: Click here for a summary of April results with pie charts added for quick reference.
8-MONTH AVERAGE - September 2010 through April 2011: On average, over the last quarter of 2010 and first quarter of 2011, home buyers have been coming from within the OMREB Board area (59.59%); Lower Mainland/Vancouver Island (11.93%); Alberta (11.35%); other areas of BC (7.48%); outside Canada (2.86%); Saskatchewan/Manitoba (2.85%); and Eastern Canada/Maritimes (2.07%). During this period, move-up buyers accounted for 23.24% of the purchasers while first-time buyers comprised 21.43%.