Around Town: Vancouver Island Real Estate Board releases 2016 Buyer Profile
The 2016 Buyer Profile provides statistical information summarizing “home characteristics” for VIREB’s overall board area within its boundaries. These include Duncan-Cowichan Valley, Nanaimo, Port Alberni-West Coast, Parksville- Qualicum, Comox Valley, Campbell River, North Island, and the Islands.
At 81.5 per cent, owner-occupiers continue to be the primary buyers in the VIREB area.
In 2016, 26 per cent of homes that sold were under $250,000, 51 per cent were under $350,000, and 68 per cent sold for under $500,000, Only 1.4 per cent of homes in the VIREB area sold for more than $1 million dollars.
At 58 per cent, single-family detached homes represented the majority of purchases in 2016, with condominium apartments accounting for 10 per cent of purchases and townhomes garnering 7.2 per cent of total home sales.
In terms of aggregated buyer origin, home purchasers break down as follows:
- 31.6 per cent from Vancouver Island;
- 41.6 per cent from elsewhere in British Columbia (Vancouver and the Fraser Valley make up 27.8 per cent of that figure);
- 24.2 per cent from elsewhere in Canada; and
- 2.6 per cent from outside of Canada.
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