A total of 151 respondents participated in this survey – 40% of the 376 OMREB sales representatives who closed the 538 deals on behalf of Buyers last month.
MAY SURVEY SUMMARY
Property Type:
27.4% of purchases were by Move Up Buyers
19.2% by First Time Buyers
9.6% moving from Single Family to Home Strata unit
7.5% buying Revenue/Investment Property
6.2% moving from Strata property to Single Family Home
5.5% moving into Retirement Home/Seniors Community
2.7% Recreation Property Buyers
Family Dynamic:
29.8% of Buyers were Two Parent Families with Children
23.2% Empty Nesters or Retired
21.2% Couples without Children
13.9% Single Females
9.9% Single Males
4.6% Single Parent Families with Children
Financing:
60% financed via Conventional Mortgage (with more than 20% down)
26% paid by Cash
14.7% by High Ratio Mortgage (less than 20% down)
0.7% required Rental Income to Qualify for Financing
Moving From:
53.6% from Within OMREB Board Area
19.2% from Alberta
11.9% from Other Areas in BC
6.6% from Lower Mainland/Vancouver Island
4% from Eastern Canada/Maritimes
3.3% from Saskatchewan/Manitoba
1.3% from Outside Canada
Moving To:
49.7% of purchases were in Kelowna/West Kelowna
25.2% in Vernon/Coldstream
9.3% in Central Okanagan (other than Kelowna/West Kelowna)
6% in Shuswap/Revelstoke (other than Salmon Arm)
6% in North Okanagan (other than Vernon/Coldstream)
4% in Salmon Arm
Kind Regards
Trish Cenci
Tel 250 864 1707
