The lower dollar is bringing property investors back from the states and they are looking for an investment here in Canada. This is especially true for recreational property buyers or investors looking for a passive income through rental properties. Buyers from Alberta and Saskatchewan who used to purchase recreational property in hot spots like the South West of America are now buying in British Columbia.
Some investors are looking to Langley.
With a growing population of 104,177 people all living, working and playing in Langley buying a second home here could be a wise investment for BC residents and investors outside of BC.
In a recent article the Fraser Valley Real Estate Board said “Similar to this past summer, this is the busiest September we’ve had since 2009 with sales of all property types combined out-performing the 10-year average by 13 per cent. “Residentially, the single family detached home remains the preferred property type. From North Delta to Mission, sales increased in every Fraser Valley community compared to last year with the price range of $400,000 to $699,999 garnering almost sixty per cent of our total detached market.”
Contunuing on Mr Werger comments;
“Long-term, the value of single family detached homes has increased at a faster pace than it has for attached properties, particularly in areas such as Surrey, White Rock, Langley and Abbotsford where we’ve seen many new townhome and condo developments. The supply of new inventory has affected the price of resale product.”
In September, the MLS® HPI benchmark price of Fraser Valley townhouses was $299,600; an increase of 1.1 per cent compared to $296,200 in September of last year, and in the last six months has increased by 0.8 per cent. The benchmark price of apartments decreased year-over-year by 4.7 per cent, going from $203,100 in September 2013 to $193,600 last month, and has decreased by 0.9 per cent in the last six months.
There are many solid reasons to invest in property from equity build-up, appreciation or just a solid familiar investment. Call me today for my advice on the best second homes or investment properties in Langley and the local area.