Invest in Surrey real estate and you won’t go wrong, according to Real Estate Investment Network (Real Estate Investment Network) president Don Campbell.
REIN recently released its list of the top investment towns in B.C., based on its constant region-by-region study of the market. For the third year in a row, Surrey tops the list of best investment towns in B.C. Surrey is followed by Maple Ridge/Pitt Meadows, Kamloops, Abbotsford, Dawson Creek, Fort St. John, Kelowna, Comox Valley, Penticton And Prince George round out the top 10. Vancouver is at No. 11.
What you want is a real estate market, not a speculative bubble. A real estate market involves new population growth and people who typically rent for three to five years before buying. REIN investors are looking for regions where that growth is about to happen, and they purchase properties on the upswing of that growth, which is about a five-year plan. For example, it takes time for vacancy rates to drop, after more people have moved in. Then renters will typically become homeowners.
“I’m trying to identify long-term markets,” says Mr. Campbell. “It’s not like stock investing, where you can get in and out. You want your money to go where the people are going to go.
“For example, the immigration into Edmonton, Calgary and Saskatoon is unbelievable. But people say, ‘the real estate market there is flat.’ That’s the point. You see population growth first, then the vacancy rate goes down, and 18 months later, after population grows, then you see the upward pressure on real estate. It’s incredibly predictable. This is the underlying economic analysis.” says president Don Campbell.
Surrey has boosted its population with jobs and the lowest residential taxes in the region, generous housing stock, and its development of a transit-focused commercial core called City Centre. It’s possible to buy a condo in Surrey for $150,000, which is a rarity in Vancouver. As a result, Surrey grows by 800 to 1,000 people per month. As well, it has the highest birthrate in B.C., with about 400 babies born every month.
Its a simple case of supply and demand. With the largest population growth in BC, Surrey is on the verge of being one of the highest demand areas in the lower mainland in years to come.
Quotes by Globe and Mail.
THE AZIZ GROUP