Andrew Ramlo was the keynote speaker at the luncheon on Thursday (Connor Trembley - Kelowna Capital News)

Economist sees positive outlook for Kelowna’s economy

Labour statistics, population growth and real estate trends all headed in the right direction

Labour, real estate and population trends in the Central Okanagan were three main focal points of a luncheon held by keynote speakear Andrew Ramlo at the Coast Capri Hotel in Kelowna on Thursday.

Ramlo holds 20 years of experience in market data research and currently works as vice president of intelligence at Rennie Group in Vancouver.

In terms of employment, Ramlo said the Central Okanagan has had strong job growth on a year-over-year basis.

From a real estate standpoint, Ramlo said the market in the Central Okanagan has been stable.

READ MORE: Albas to speak at Summerland Chamber luncheon

“Our real estate market is relatively healthy right now,” said Ramlo.

“Our inventory and sales levels are right where we should be at in terms of historical averages.”

Ramlo said there has been greater real estate demand in the Central Okanagan for certain types of housing units.

“The condo market has actually outperformed the detached home market over the last year,” said Ramlo.

“We’ve definitely seen price appreciation recently in the condo market.”

With regards to population growth, Ramlo said the Central Okanagan has had some of the highest inter-provincial migration levels in B.C in recent years.

The event was organized by the Urban Development Institute, a non-profit association that supports economic development initiatives across B.C..


@connortrembley
connor.trembley@kelownacapnews.com

Like us on Facebook and follow us on Twitter.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

FortisBC pausing power disconnections and late-fees amid COVID-19 crisis

Company says they plan to work with customers affected by COVID-19 on a “one on one” basis

Kelowna’s Father’s Day car show postponed

BOYD Autobody and Glass have made the decision to postpone the car show due to COVID-19

Migrant worker advocates blame government, employers for West Kelowna COVID-19 outbreak

Migrant farm worker group calls on government for adequate health and safety requirements

Central Okanagan Food Bank offers help to those struggling financially during pandemic

“Our message to everyone in this predicament is to please pay your bills and let us help you with your food.”

Okanagan College passes $126.8-million 2020-21 budget — virtually

The board recognized circumstances associated with the COVID-19 pandemic will likely prompt changes

‘We don’t need this right now’: B.C. man breaks up road rage incident

Two men were throwing punches on Tillicum Road in Saanich on Vancouver Island

UPDATE: Coronavirus concerns prompt event cancellations across the Okanagan

This is a running list of events cancelled across the Okanagan

B.C. schools Zoom to online education amid COVID-19

K-12 educators will receive access this month, up to individual districts whether they use it or not

HERGOTT: COVID-19 and legal issues

Paul Hergott is a personal injury lawyer based in West Kelowna

YMCA Okanagan offers virtual classes to keep community healthy in quarantine

This virtual offering, called Y Thrive Home, includes a variety of options for all ages

Princeton businesses donate protective equipment to local health-care workers

Princeton’s doctors, nurses and other health professionals, as well as care providers… Continue reading

B.C. adding $300 to monthly income and disability assistance payments

‘Crisis supplement’ for COVID-19 for April, May and June

‘A matter of human decency’: Truckers’ union calls on gas stations, rest stops to fully re-open

Teamsters Canada wants feds, provinces to put pressure on facilities to re-open for transport workers

Seeing double: 2 great blue herons caught by Vernon shutterbug

Image perfect reminder spring has sprung in the Okanagan

Most Read