OMREB – June 2014 Buyer Survey (Kelowna)

JUNE SURVEY SUMMARY

Property Type:

30.9% of purchases were by Move-Up Buyers (up from 28.6% in May) *

20.7% by First Time Buyers  (up from 18.5%) *

13.0% moving from Single Family Home to Strata Unit (down from 15.2%)

9.3% buying Revenue/Investment Property  (up from 7.4%) *

5.3% moving into Retirement Home/Seniors Community  (up from 4.4%) *

4.3% buying Recreation Property  (down from 6.4%)

2.8% moving from Strata property to Single Family Home (down from 5.1%)

* During June, there were increases in purchases by move-up buyers, first-time buyers, retirees moving into seniors communities, and investment property buyers compared to the previous month.

Buyer Type (Family Dynamic):

28.4% Two Parent Family/Children (up from 21.9% in May) **

24.9% Couple without Children (up from 24.5% in May) **

21.3% Empty Nester/Retired (down from 21.9%)

11.9% Single Female (down from 17.9%)

9.9% Single Male (down from 10.6%)

2.7% Single Parent with Children (down from 3.6%)

** There were more purchases by two parent families and couples without children during June than in May.

Moving From:

57.9% from Within OMREB Board Area  (up from 57.7% in May) ***

18.2% from Alberta (up from 16.3%) ***

9.8% from Lower Mainland/Vancouver Island  (same as May)

8.6% from Other Areas in BC  (up from 7.3%) ***

2.1% from Eastern Canada/Maritimes (down from 3.7%)

1.8% from Outside Canada  (up from 1.0%) ***

1.2% from Saskatchewan/Manitoba (down from 4.3%)

0.3% from NWT/Yukon (up from 0%) ***

*** Compared to May, more buyers moved from within the Board area and other areas of BC, as well as from Alberta, Northwest Territories and Yukon, and outside Canada in June. Movement from other areas stayed the same or declined.

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