Dawson Creek moves up on list 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 Dawson Creek as a top investment community. The city’s ranking has improved this year, from fifth place the 2011 edition of the report to fourth place in the most recent edition. The entire report is available for download free of charge on the company’s website at www.topbctowns.com.
Dawson Creek’s proximity to the Horn River and Montney shale gas formations as well as several coal mines have made it an ideal regional service centre for Northeast British Columbia. The abundance of natural gas resources in the area will provide a source of long-term growth for the city’s economy. Dawson Creek has experienced dramatic growth in the last few years as the world begins to grasp the possibility that one billion cubic feet of gas a day, or 170,000 barrels of oil, could be produced from the Horn River Basin.
Although the strong trend across the country is towards an aging population, the profile of Dawson Creek is much younger. The median age in Dawson Creek is over five years younger than the median age for the province. REIN believes this is important for real estate investors to note as, a younger median age means generally means expanding families. This stimulates the housing economy as new parents move into bigger or more appropriate homes to accommodate their enlarging family.
While the local economy looks diverse, the natural gas industry will have an impact on the city’s growth. “It is important that investors keep in mind that energy projects will affect residential sales and average rents,” said Don R. Campbell, one of the report’s authors and Senior Analyst for the Real Estate Investment Network. “When there is an uptick in new energy projects, consumer confidence is boosted by the increase in jobs to the region and the high average income. This causes an increase in demand for housing and rental properties. However, when the energy projects are cancelled or stalled, average rents and house prices may decrease. There is a lot of potential in the Dawson Creek real estate market if you are willing to provide hands on management and you have a long term view.”
With an expanding economy and major economic sectors including forestry, agriculture, and the oil and gas industry, REIN believes Dawson Creek provides businesses with a wealth of opportunity.
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: