Who is buying homes in the Okanagan and where they coming from

FACT SHEET

February 2013           Okanagan Mainline Real Estste Board

Kelowna, BC

– Ever wonder where home buyers come from? Since September 2010, the Okanagan

Mainline Real Estate Board (OMREB) has been collecting information from our members with regards to where our buyers are coming from – both geographically and demographically. The purpose ofcollecting this data is to add another element to our market knowledge and a better understanding ofcurrent trends. The longer record, the more insight the Board will have.

Results of OMREB’s new Board

wide monthly Buyers Survey indicate that serious buyers are taking advantage of the current market and leveraging their positive purchasing power while it lasts. Buyer profiles gathered through each monthly survey include property type, family dynamic, financing, and areas moving from and to.

So far during 2013 (January), Moveup Buyers have accounted for 20% of the purchasers while

First Time Buyers comprised 25%.

Home Buyers have been coming from:

Within the OMREB Board area (61.5%)

Lower Mainland/Vancouver Island (14.8%)

Alberta (11.5%)

Other areas of BC (4.1%)

Eastern Canada/Maritimes (4.1%)

Saskatchewan/Manitoba (2.5 %)

Outside Canada (1.6%)

North West Territories/Yukon* (0%)

* NWT/Yukon – 16th month reported (first recorded Sept 2011 at 0.5%)

During 2012 (January through December), Moveup Buyers have accounted for 26% of the

purchasers while First Time Buyers comprised 20%.

Home Buyers were coming from:

Within the OMREB Board area (58.9%)

Alberta (15.5%)

Lower Mainland/Vancouver Island (10.3%)

Other areas of BC (8.0%)

Eastern Canada/Maritimes (2.5%)

Saskatchewan/Manitoba (2.3 %)

Outside Canada (1.8%)

North West Territories/Yukon* (0.6%)

 

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