Real Estate Information and Market Trends| Real Estate Victoria BC

Where Does The Real Estate Buyers Come From?

Every year we sit down and look at where the buyers for Victoria Real Estate come from. It is also interesting to have a look at who is buying the rest of Vancouver Island. A recent article in the Westcoaster.ca has some interesting facts and figures. It reads:

Just who’s buying real estate on the Island and in the Alberni-Clayoquot?  Other Islanders, retirees and, of course, Albertans, says the Vancouver Island Real Estate Board. The board released its 2007 Buyer Profile and some Island-wide statistics Wednesday.

“When added together, approximately 54 percent of buyers originate on Vancouver Island and 44 percent originate from the rest of BC and outside of the province,” said Subhadra Ghose, president of the real estate board, in a press release.

“Vancouver Island continues to be the preferred destination for retirees. Fully 35 per cent of home buyers in 2007 were retirees and that number is likely to increase in the coming years.”

Specifically, the Island numbers show 32 per cent of buyers come from the same area, 16 per cent come from other Island communities, 6.1 per cent come from Victoria and 1.3 per cent come from the Gulf Islands.

When it comes to the rest of BC and outside the province, 14 per cent originated in Alberta, 7.7 per cent from Vancouver, 8.4 per cent from elsewhere in BC, 4.4 per cent from Ontario, 2.6 per cent from the rest of the world, 3.5 percent from the Fraser Valley, 1.6 percent from the rest of Canada, and 2.1 percent from Saskatchewan and Manitoba.

The numbers were based on 2,083 surveys completed by buyers in 2007. A total of 9,168 surveys were sent out.

The numbers are a little different in the Alberni-Clayoquot. “For planning purposes, it’s good to know that 28 per cent of our zone buyers are retirees and half are from out of town,” said Lyle Price, VIREB director in the Alberni Valley.

“That percentage may well increase, as markets in 2008 are correcting with lowered sales volumes but retirees are coming anyway,” he says, noting affordability and access to amenities also attracts young families.”  End of Article.

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Cheers,
Bill

Bill Ethier B.Sc – REALTOR®

Properties in Victoria Professionals- Royal LePage Coast Capital Realty

Bill has been a REALTOR® in Victoria since 2006. Originally from the Vancouver area, Bill moved to Victoria to attend the University of Victoria where he received his Bachelor of Science. Not only does Bill have a wealth of real estate knowledge he is also an active member of the community. He is a member of Triple Shot Cycling Club, Island Road Racers and is the Race Director for the Sooke River 10K.