Top 5 cities on Vancouver Island to buy real estate...
Deciding where to buy real estate on Vancouver Island depends on a variety of factors. Victoria(345,000), Nanaimo(84,000) and Campbell River(31,000) are the largest cities.
Victoria was 2nd on the Money Sense magazine's Best Places to live in Canada list. (Average single family home: $589,000) Victoria is a big bustling city that still offers the laid back style us Vancouver Islanders love. I love Victoria, but the housing prices will have to adjust, as they have just become too expensive for the average family (as I predict they will in Vancouver) Sooke and Langford have become two of the quickest growing cities on Vancouver Island - both provide the amenities of being very close to Victoria, but providing a slower pace of life.
Nanaimo appeared 36 on the same list. Being a central city that boasts a wonderful waterfront, a bustling university and housing is a bit more affordable. The average single family dwelling sells at about $340,000.
An average single family home in Courtenay sells at about $336,000 - very close and comparable to Nanaimo housing, although their population is about 25,000 - Courtenay is turning into an outdoors hub for the Island - with Mount Washington a quick hop skip and a jump away. With Westjet providing non-stop flights to Mexico and other desirable destination I only see this area growing and growing.
The Cowichan Valley provides a more rural way of life and is the Napa Valley of Vancouver Island with the majority of the vineyards located here. The average home sells for about $340,000. With the university expanding in this area and having Victoria a mere hour drive away this is desirable for many people who cannot avoid the housing prices in Victoria but want to be close to Victoria.
Campbell River went through some tough times with the forestry downturn. I predict forestry will come back in a big way (it already is with Canada selling big time to more foreign countries and relying less on the USA) This will re-open mills and bring wealth and prosperity back to the region. The average single family home is approx. $240,000 which is the least expensive of all the cities on the list. Campbell River needs to invest in clean energy and technology in this city and it will be back in action!