Thursday, October 23, 2014

Despite increasing prices, Prince Rupert and Port Edward still among the best values for housing in B. C.

While local residents may question the increasing cost of housing in the community, much of it at the moment fuelled by speculation of potential economic development, an item from the Vancouver Province may offer up some perspective.

Observing how on a hard data basis, both Prince Rupert and Port Edward are still considered to be a bargain hunters paradise compared to other communities in British Columbia.

Yesterday, the Vancouver Province outlined two lists for consideration, the first the top twelve communities which feature a high cost for housing.

That first segment of the review includes some of the usual suspects of recent years, the majority of them found on the Lower Mainland with West Vancouver topping the list of twelve, with an average price of 2 million plus.

On the other side of the ledger, when it came to communities still considered quite favourable for purchasing house, is where you will still find both Prince Rupert and Port Edward, highlighted as part of the 36 communities where dollar stretching investors might wish to check out.

The paper's statistical review highlighting Prince Rupert's average home price of 175,000 and Port Edward's of 113,761 as still comfortably low for those looking to buy a home in 2014.

As well, despite much discussion on the housing crunch in Kitimat, according to the Province review that community features an average house price of 174,189.

Those numbers may reflect the low range for today.  However, should some of the proposed economic development planned for the Northwest finally get a go ahead, the days of the North Coast resting on the affordable housing listings may quickly change.

You can examine the full listing of communities both high and low here.

Our past items related to housing issues on the North Coast can be found here.

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