Powell River: highest home price hike in BC In Around Town

August 20, 2020

Your Weekly Construction Briefing

Despite Powell River’s pulp mill shuting down in April, the town posted the highest home price increase in BC in July with a 30 per cent hike from a year earlier.

Luxury waterfront sales has helped the City of Powell River post the highest home price increase in BC for the month of July.

Once a thriving pulp mill town, the city is now best known as a tourism and retirement destination. Twenty-seven per cent of residents are over the age of 65, compared to a provincial average of 18 per cent.

Powell River June real estate board data showed that out- of-town buyers – 28 – accounted for nearly three times the number of home sales as local buyers, at 11 transactions.

A number of higher-priced properties, such as luxury waterfront, sold in July which accounts for the province- leading price increase in Powell River. When luxury homes are omitted, the average price of a detached single-family house in Powell River is around $425,000.

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