Abbotsford Ranks Fourth on List of Top Cities for Investment
November 18, 2011 Kevin Mills, Abbotsford News
Abbotsford ranks number four on a list of top cities and towns in B.C. for real estate investment.
The result was released earlier this month in a report created by the Real Estate Investment Network (REIN).
The report, called Top British Columbia Investment Towns 2011, analyzes the current and future prospects for real estate investment opportunities in the province, and identifies the top regions that will outperform in the coming decade.
Abbotsford finished just behind Surrey, Maple Ridge/Pitt Meadows and Kamloops, and just ahead of Fort St. John.
“Favourable housing prices and an appealing rural lifestyle have 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,” said Don Campbell, president of REIN.
The REIN findings are based on analysis of the latest statistics, economic and social trends and reports from its research staff, along with statistics from Canadian Mortgage and Housing Corporation, Statistics Canada, Multiple Listing Service, Canadian Home Builders Association, regional real estate boards and more.
The report looked at several factors:
- Is the area’s population growing faster than the provincial average?
- Are new infrastructures being built to handle that growth?
- Is the area creating new jobs and taking steps to maintain current employment levels?
- Will the city benefit from an economic or real estate ripple effect?
- Has political leadership created an economic growth atmosphere?
- Are there major transportation improvements in the works?
New infrastructure and transportation improvements (the McCallum and Clearbrook road interchanges) likely played a role in the city’s ranking, according to city officials.
The top 11 cities ranked in the report:
1) Surrey
2) Maple Ridge/Pitt Meadows
3) Kamloops
4) Abbotsford
5) Fort St. John
6) Dawson Creek
7) Kelowna
8) Comox Valley
9) Penticton
10) Prince George
11) Vancouver