Langley makes first appearance 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 in the province over the next decade and has ranked Langley as a top investment community. The city is ranked 10th out of the 10 communities that appear in the report. The entire report is available for download free of charge at www.topbctowns.com.
Langley had previously appeared on REIN’s list of ‘must watch’ cities, but this is the first time it has actually been declared a top investment city in British Columbia. Located on the outskirts of Metro Vancouver, the Township and City offer more affordable housing prices than the vast majority of Metro Vancouver towns. This has caused the region to experience a population explosion over the last decade, and it’s not expected to stop any time soon.
REIN believes the completion of the new Port Mann Bridge, the expansion of lanes on the Trans-Canada Highway, and the addition of a RapidBus will also have a major impact on the current and future residents of Langley. Although the actual distance will remain the same, the widening of Highway 1 as far east as Exit 216 in Langley and the 10-lane span will mean that residents will not spend as much time in traffic. “Investors now know distance is measured in minutes, not kilometres,” said Don R. Campbell, one of the report’s authors and Senior Analyst for the Real Estate Investment Network. “Langley is well-positioned to benefit from the Port Mann Bridge and Highway 1 expansion. This will increase demand for property in the region and help homeowners enjoy increased values now that the bridge is complete.”
However, REIN points out that region’s strict secondary suite bylaw restrictions and focus on multi-family developments mean single-family investing options are few and far between. Langley’s high average real estate prices also make entry into the market difficult and investors may have to perform some extra due diligence in order to find cash flowing properties.
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 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.