Maple Ridge and Pitt Meadows tied at No 2 in list of Top BC Investment Towns
July 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 ranked Maple Ridge and Pitt Meadows as top investment communities in BC. This marks the third consecutive year that Maple Ridge and Pitt Meadows have ranked second on the list of top investment communities in the province by REIN.
With approximately 65% of Maple Ridge residents currently commuting to other regions for work, REIN believes no area in British Columbia will be impacted more significantly by the completion of Gateway Program. In 2009, the new Golden Ears Bridge officially opened to traffic. The 6-lane bridge is the first direct route from the communities of Maple Ridge and Pitt Meadows to Langley and Surrey. The transportation improvement has finally provided Maple Ridge and Pitt Meadows with a direct link to Highway 1 and has reduced the time it takes to travel to Vancouver and the surrounding region.
The population of both communities is already beginning to experience rapid growth. Between 2006 and 2011, the District of Maple Ridge recorded a population of growth of 10.3% while Pitt Meadows witnessed a population increase of 13.5%, both significantly above the provincial average of 7% during the same time period. The region’s affordability in conjunction with the new transportation changes will drive even more residents into the areas in the near future, which will of also drive up property values and rents.
“Both communities have been hampered by poor transportation infrastructure for decades, detracting people from moving to the area and keeping real estate prices low,” said Don R. Campbell, one of the report authors and Senior Analyst at REIN. “The completion of the Golden Ears Bridge between Langley and Maple Ridge in 2009 and the opening of the new Port Mann Bridge in 2012 has brought the one-time sleepy Fraser Valley farming communities closer to Vancouver. Real estate prices remain relatively low…for now. As more people begin to realize what these two growing communities have to offer, demand will increase and prices will rise. Savvy real estate investors have begun to see the long-term growth potential of both communities.”
The top BC communities in REIN’s 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: