“Strong start to 2015 construction year”
“Multifamily construction boom continues in Kamloops”
When headlines like this start to show up, I know the market is about to take off. I am happy on one hand, however I am disappointed I have not yet bought more.
Ignoring 2008(because this was in part due to easy credit that created the financial crisis), January of this year in Kamloops had the largest amount of residential permits issued(46) in 10 years, valued at the highest dollar amount($7.48M). Builder are anticipating a strong demand in house prices and are moving to capitalize.
There is however still time to pickup a good cash flowing property. Older stock residential prices have not skyrocketed yet, and there is a huge opportunity to get a nice capital appreciation before the next jump in house prices.
To learn more, please download the Report on Kamloops for Real Estate Investors at this link.
Until next time, Stay S.A.F.E.
There is another mine proposed to be opening nearby. The Harper Creek Mine is undergoing the environmental assessment phase as per this article. This mine will benefit Clearwater as the closest community, but the manufacturers of mining equipment in Kamloops will also benefit from another large mine in close proximity. Harper Creek Mine is expected to employ over 600 people during construction, and 450 people for the 28 year life of the mine according to this report.