Abbotsford one of British Columbia’s Top Investment TownsJuly 25, 2013
July 25th Langley, BC - The Real Estate Investment Network (REIN) released the 2013 edition of its Top British Columbia Investment Towns report today. The 110-page report analyzes the current and future prospects for real estate investment opportunities in the province over the next decade and has once again ranked Abbotsford as a top investment community. However, the city’s ranking has dropped slightly, from fourth place in a previous edition of the report to sixth place in the most recent edition.
The city’s downgrade in this year’s report was due to Abbotsford’s growing reputation as a tough place to do business. It is well known that some businesses have decided to locate elsewhere due to crippling zoning by-laws and unyielding planning policies. “It is important for investors to realize that if civic policies or city employees are difficult to work with, this is likely true for other businesses who determine that it is not worthwhile to set up shop here, thereby stifling economic growth and expansion,” said Don R. Campbell, one of the report’s authors and Senior Analyst for the Real Estate Investment Network.
However, REIN believes Abbotsford is still poised to experience major growth, both economically and demographically, in the next several decades. The combination of affordable housing prices and an appealing rural lifestyle has led Abbotsford to experience rapid population growth in the last decade, with no signs of stopping any time soon. The city has witnessed an increase in local jobs with fewer people having to commute out of the city for work.
The City of Abbotsford’s Economic Development Plan outlines a number of new initiatives in the coming years and has seen a rise in commercial, retail, and industrial development. This major expansion of commercial and industrial lands along the Mt. Lehman Corridor includes a new high tech park, mega shopping mall, and development of the U-District (near the University). All of these projects will help encourage even more prospective businesses and developments, providing that Abbotsford is the goods and services hub of the Fraser Valley. Abbotsford is on an economic diversity track. As the transportation arteries are opened up in the Lower Mainland with the Gateway Projects, the city will become an even more attractive location for manufacturing and distribution companies bringing in higher income jobs to the region.
The top BC communities in REIN’s 2013 rankings are:
2) Maple Ridge
3) Fort St. John
4) Dawson Creek
9) Prince George
About the Top British Columbia Investment Towns report
The Top British Columbia Investment Towns report was first published in 2009 in response to growing demand from investors to know the province’s best locations for cash flowing properties. The report is released every second year and provides investors with comprehensive information on which areas of the province will outperform over the next decade. The communities listed in REIN’s report have been ranked according to their long-term investment potential, not short-term speculative market runs. Many sources are consulted in order to provide real estate investors with the most comprehensive information, including Canadian Mortgage and Housing Corporation, Multiple Listing Service (MLS), Statistics Canada, Regional Real Estate Boards, and local economic development offices. Additionally, real estate investors and REALTORS© who were well acquainted with particular cities and towns were consulted to provide ‘real time’ and ‘on the street’ experiences. The entire report is available for download free of charge on the company’s website at www.topbctowns.com.
About The Real Estate Investment Network Ltd.
Founded in 1993, The Real Estate Investment Network Ltd. (REIN) has grown over the years to become Canada’s leading real estate research and education organization for investors and homeowners across North America. REIN does not sell or market real estate to its members or the general public, but instead conducts objective and unbiased research, analysis and investor education. For further information on REIN, visit www.reincanada.com.
For an interview with one of the report’s authors, please contact Melanie Reuter: