Q3 Economic Drivers Stats - Kelowna

[Carla Reis]

I just thought I would share this stats with our network

Some highlights are:
- Population growth Up 8.4%
- Labour force Up 7.2%
- Housing starts Up 90%
- Business licenses Up 15.4%
- Household Income Up 41%
- Median house price Up 19%
- Avg rent Up 6%
- Job postings Up 22%

More details at
http://www.investkelowna.com/applic...2802/Economic_Indicators_Single_-_Q3_2017.pdf



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[Thomas Beyer]

Tread carefully. Much of the real estate gain has already happened. Tough to find cash flow to hold with 25% down.


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[Cory Sperle]

With mostly service based jobs I question the household income stats. Of note is the amount of multi starts, a classic sign of overbuilding.

 

[Carla Reis]

Indeed all good points Cory and Thomas.
Luckily we bought our properties before the prices went crazy but who knows what future will bring. (If someone would’ve told me few years ago that Vancouver would be selling 1 bed condos for 1 Mio I would definitely question their sanity)
Higher interest rates, new mortgages restrictions, the government talking about increasing taxes, etc ... so we are experiencing uncertainty thats for sure.
Note: These stats are just information and not a recommendation by any means.



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[Matt Crowley]

@CorySperle interested on your thoughts on this...

Kelowna Office: vacancy Q2 2017 down to 8.78% from 9.08% Q42016 in a universe of 3.7 million SF. Rents up $2 PSF. There is 130,000 SF in the pipeline, a 3.5% increase in supply. How much more are you willing to pay for land given these economics?

Kelowna Retail: Vacancy Q2 2017 down to 3.41% from 5.56% Q4 2016 in a universe of 6.2 million SF. Rents up $3 PSF. There is 104,000 SF in the pipeline, 1.7% increase in supply. How much more are you willing to pay for land given these economics?