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

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