In 20 years working as a real estate agent in Kelowna, Rick Hamer-Jackson has never seen anything like it.
“We have never seen the rapid price growth in the past two to three months,” he said.
We spoke to Hamer-Jackson outside a house he listed in the Glenmore area that has probably appreciated a hundred thousand dollars since late February.
“You could say that every house has grown by at least 100 grand in the past 60 to 90 days,” he said. “And who knows, it seems like we’re still moving in that direction, so we’ll see what happens for the rest of the year.”
Photo credit: KelownaNow “src =” https://www.kelownanow.com/files/files/images/newhouses.jpg “style =” margin: 5px; “/>” It develops into Vancouver Syndrome, which some people experience may never be able to buy a house now. Our prices creep up at such values. “
This means that young people will have to look elsewhere when they leave their hometown.
“There are families who are being displaced. But that too is a bit difficult. You can go to Kamloops, South Okanagan, even the Kootenays and the values are high everywhere in western Canada,” said Hamer-Jackson.
At least part of the blame can be attributed to 2020’s biggest villain, COVID-19. This has created a trend where people are swapping their Vancouver properties for Kelownas, which are still cheaper by comparison.
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