Results of December 2011 Buyer's Survey - "Who Bought Homes in Kelowna and Where did they come from?"
By Jaime Briggs, Kelowna Real Estate
January 24, 2012
Are you always wondering WHO is buying homes here in the Okanagan and WHERE are they coming from? Welll. . . The results of OMREB's December 2011 Buyers Survey are in!
DECEMBER 2011 SURVEY SUMMARY
Property Type:
23.8% of purchases were by Move-Up Buyers
21.8% buying Revenue/Investment Property
19.8% by First Time Buyers
8.9% moving from Single Family Home to Strata Unit
7.9% Recreation Property Buyers
5.0% moving from Strata property to Single Family Home
3.0% moving into Retirement Home/Seniors Community
It is interesting to note that the number of revenue and investment property purchases improved significantly and rose to second on the list for December (from fourth) – pushing first-time buyers down to third place. Reported purchases of recreation properties saw a noticeable improvement as well.
Moving From:
68.9% from Within OMREB Board Area
12.6% from Alberta
8.6% from Lower Mainland/Vancouver Island
2.9% from Other Areas in BC
2.9% from Saskatchewan/ManitobaPublish
2.9% from Outside Canada
1.0% from NWT/Yukon (third month reported)
0% from Eastern Canada/Maritimes