Kamloops is poised to access new markets within the next 18-24 month thanks to the new Free Trade agreement with the EU.
New markets = more exports = more jobs = more housing needed.
Kamloops’ economy has a large representation in all trade to the EU represented in this graph. More demand for Kamloops’ products is a good thing; it will lead to more jobs which leads to higher rent and home prices.
Housing is already in high demand. Kamloops rents are very high(similar to LMD averages) but home prices are 1/3 of some LMD averages. More jobs to the region will put more pressure on the supply, and builders will not be able to keep up, even if they can find the room to build within Kamloops’ challenging landscape. Higher rents are a foreshadowing impending higher prices.
What I know for certain is this amazing buying opportunity will not last forever. I am preparing for the next equity spike that is just around the corner.
Until next time ,