(Pixabay)

(Pixabay)

In the market for a cabin? Report forecasts 13% jump in B.C. recreational property prices

68% of buyers in B.C. are coming from out of market

The price of a recreational property in B.C. is forecasted to go up by 13 per cent over the next year, according to a report from real estate firm Royal LePage.

In B.C., that would raise the cost of a recreational property from $691,963 to $781,918. The biggest increase was seen the the Kimberley and Cranbrook area, where prices jumped from 33.8 per cent from $527,000 to $705,100.

According to a survey of 190 Royal LePage recreational real estate professionals across Canada, 91 per cent said that their market has less inventory than usual for their respective regions, including 72 per cent that reported significantly less inventory available.

“Life during the pandemic has made cottage country and country living more desirable than ever, in every part of Canada,” said Phil Soper, president and CEO, Royal LePage.

“And an increasing number of new owners intend to use these escapes for both weekend play and Monday to Friday work.”

And many of those buyers have been from out of province, with the company saying that 68 per cent of its B.C. professionals saying they’re seeing an increase in interprovincial purchases this year.

That increasing interest, the company said, has led to 52 per cent of recreational properties selling above asking.

READ MORE: Vacation properties see spike in demand as people look for safe getaways


Like us on Facebook and follow us on Twitter.

Want to support local journalism during the pandemic? Make a donation here.

Real estate

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Supporter Gordy Dodd cheers on HeroWork Victoria executive director Trevor Botkin, who will be in a lift for 36 hours beside Dodd’s Furniture and Mattress on April 16 and 17 to raise funds for the organization’s next project, a makeover of the Salvation Army’s Addiction and Rehabilitation Centre on Johnson Street. (Courtesy HeroWork Victoria)
HeroWork Victoria tackles makeover of Salvation Army rehab centre

Executive director to spend 36 hours living in a lift as fundraiser

Naloxone is used to treat opioid overdoses. (Black Press Media files)
Island Health issues overdose advisory for Greater Victoria

The advisory directs bystanders to an overdose to call 911 and administer naloxone

Grandmothers to Grandmothers is a campaign that connects Canadian grandmothers with grandmothers in Africa who are caring for children orphaned by AIDS. Here, they are in Kakuto, Uganda in 2018. (Kibuuka Mukisa Oscar photo)
Greater Victoria and African grandmothers celebrate solidarity with virtual concert

Grandmothers to Grandmothers supports women in Africa caring for children orphaned by AIDS

West Shore RCMP is seeking information about a collision involving a car and a bicycle on Six Mile Road, near the Island Highway, at 11:30 a.m. on April 7. (Black Press Media file photo)
West Shore RCMP seeks information about collision between bike, car

Collision occured on Six Mile Road on April 7 and a bystander got the blue car’s plate number

A vehicle that was driven through the wall of a parkade at Uptown Shopping Centre and into the nearby Walmart on April 9 was removed through another hole in the wall later that night. (Photo via Saanich Police Department and Ayush Kakkar)
Driver who crashed into Uptown Walmart likely suffering mental health crisis, police say

Man in his early 20s drove through a parkade wall, no serious injuries reported

Restaurant patrons enjoy the weather on a patio in Vancouver, B.C., Monday, April 5, 2021. The province has restricted indoor dining at all restaurants in B.C. due to a spike in COVID-19 numbers. THE CANADIAN PRESS/Jonathan Hayward
B.C.’s COVID-19 indoor dining, drinking ban extending into May

Restaurant association says patio rules to be clarified

Organ donation form from BC Transplant. (BC Transplant)
POLL: Have you registered as an organ donor?

They number 1.5 million strong and growing. But their numbers still fall… Continue reading

Anyone with information on any of these individuals is asked to call 1-800-222-TIPS (8477) or visit the website victoriacrimestoppers.ca for more information.
Greater Victoria Crime Stoppers wanted list for the week of April 6

Greater Victoria Crime Stoppers is seeking the public’s help in locating the… Continue reading

Two men were seen removing red dresses alongside the Island Highway in Oyster Bay. (Submitted photo)
Two men filmed removing red dresses from trees on highway near Ladysmith

Activists hung the dresses to raise awareness for Vancouver Island’s Murdered/Missing Women & Girls

B.C. Premier John Horgan speaks at the B.C. legislature. (B.C. government)
Tougher COVID-19 restrictions in B.C., including travel, still ‘on the table’: Horgan

John Horgan says travel restrictions will be discussed Wednesday by the provincial cabinet

RCMP on scene yesterday at the altercation at the trailer park. (Submitted photo)
Violent altercation at Port Hardy trailer park sends one to hospital

Police say man confronted another over airsoft shooting, then was attacked with a weapon

John Albert Buchanan was found guilty of manslaughter in the 2017 death of Richard Sitar. Pictured here, Buchanan walking to the court in Nanaimo last year. (Karl Yu/News Bulletin)
Six years including time served for Nanaimo man in bludgeoning death

John Albert Buchanan sentenced in B.C. Supreme Court in Nanaimo for death of Richard Sitar

Flow Academy is not accepting membership applications from anybody who has received a dose of the vaccine, according to a password-protected membership application form. (Submitted image)
B.C. martial arts gym refusing patrons who have been vaccinated, wear masks

Interior Health has already issued a ticket to Flow Academy for non-compliance with public health orders

Guinevere, lovingly referred to by Jackee Sullivan and her family as Gwenny, is in need of a gynecological surgery. The family is raising money to help offset the cost of the procedure. (Jackee Sullivan/Special to Langley Advance Times)
Langley lizard’s owners raise funds for gynecological surgery

The young reptile is scheduled for operation on Tuesday

Most Read