It hasn’t all been booming; Canada’s more moderate property markets
With so much talk of the property boom in our major cities it’s sometimes easy for those dealing mainly in the big markets to forget that elsewhere in Canada it hasn’t all been about high volumes and prices. Since the downturn many smaller areas have struggled, including those that rely on buyers of second homes. Take Whistler for example. The resort town in the Coast Mountains of British Columbia was hit hard by the financial crisis back in 2008 and has taken a long time to see better times. Realtors say that there is now an uptick in sales volumes and prices are increasing, although moderately compared to the big markets. Single family homes under $1 million are doing particularly well but there is also growth in the high-end and condos and townhouses are also seeing a lot more interest. While the majority of buyers have always been from the Vancouver or wider BC area there have historically been a large percentage of buyers from the US (around 40 per cent) although this has slipped back to single figures in recent years.