Building Links 2013, Issue #27

July 10, 2013

Editor’s Note:
The Comox Valley Regional District has issued an invitation to tender on the Royston Waterfront Trail Project. This project will involve the construction of the Royston waterfront trail, upgrades to a parking area, installation of several culverts, planting of shrubs between private properties and the trail and soft shore erosion control works along a section of the foreshore.

Public Works and Government Services Canada has issued a tender for Office and Residences Construction for the Port Hardy Coast Guard Search and Rescue Station. The cost of this project is expected to be between $2.5 million and $3 million. An optional site visit is being held today, July 10, 2013 at 11 a.m. at the existing Canadian Coast Guard residence site at 8540 Shipley Street in Port Hardy.

See our tender section for more details on these new tenders.

The Campbell River’s Elk Falls Suspension Bridge project over the Campbell River canyon can start construction after receiving $325,000 from the Island Coastal Economic Trust. A Request for Quotations is scheduled to be released in September for a design/build proposal for the building of a new suspension bridge, two viewing platforms and connecting trails within Elk Falls Park. This project will be a partnership between BC Hydro, BC Parks and the Rotary Club of Campbell River. The total cost of this project is approximately $500,000.

Slow and Steady Market Growth Continues Through Second Quarter

Multiple Listing Service (MLS) sales summary data for June released by the Vancouver Island Real Estate Board (VIREB) shows housing sales activity across Vancouver Island was up six per cent compared to last year, while average sale prices remain relatively unchanged. The average price of a single family home sold within the VIREB region in June 2013 was $341,643, which is comparable to the $341,563 average sale price recorded in June 2012. There was a six per cent increase in unit sales in June 2013, where 383 units were recorded, in comparison to June 2012, when 362 single family homes sold.

At the end of June 2013 there were 2,911 single family homes available on the Multiple Listing Service® within VIREB’s coverage area, down from the 3,349 homes in the system at the end of June 2012.

Comparing June 2013 to June 2012, the average sale prices across VIREB’s six geographic areas saw: Campbell River remain virtually unchanged with average sales price listed at $308,850; Comox Valley down eight per cent to $333,297; Nanaimo’s average sales price went up five per cent to $375,080; Parksville/Qualicum prices dropped nine per cent to $369,804; Port Alberni/West Coast increased by five per cent to $207,444, while the Cowichan Valley was up four per cent to $348,924.

In terms of unit sales year-to-year, there continued to be a wide disparity among the various zones: Campbell River recorded a 12% increase, Comox Valley unit sales decreased by 17%, Nanaimo recorded a 24% increase, Parksville/Qualicum sales rose 18%, Port Alberni/West Coast dipped 35% and the Cowichan Valley reported an increase of 23%.