While Vernon’s housing prices saw a 20 per cent decrease in the first six months of 2019, Kelowna saw a 13 per cent drop, according to CENTURY 21 Canada. (Black Press Media files)

While Vernon’s housing prices saw a 20 per cent decrease in the first six months of 2019, Kelowna saw a 13 per cent drop, according to CENTURY 21 Canada. (Black Press Media files)

REAL ESTATE

Kelowna, Vernon see steep dip in housing prices in first six months of 2019

B.C. home to priciest, but also most affordable, places to live in Canada

As Vancouver housing prices continue to top the nation, Vernon and Kelowna have seen a steep decline in the first half of 2019.

That’s according to a report on the state of housing by CENTURY 21 Canada released this week, which measured the average price per square foot for all sales in B.C. between January and June.

Vernon and Kelowna both experienced significant price decreases in detached housing prices, the report says. While Vernon saw a 20 per cent decrease, from $366 to $291 per square foot, Kelowna saw a 13 per cent drop from $300 to $261 per square foot.

That paints a slightly different picture than what the Okanagan Mainline Real Estate Board stats show, CENTURY 21 said, due to the nationwide report including lakefront and waterfront properties, as well as homes in outlying areas.

ALSO READ: Okanagan Mainline Real Estate Board announces new CEO

B.C. notably has “the priciest properties in the country – as well as some of the most affordable,” the report reads.

As the Okanagan sees a sharp dip, Downtown Vancouver remains the most expensive properties in Canada, at $1,241. That’s despite the region seeing a seven per cent slash in benchmark prices.

Meanwhile, houses in Tumbler Ridge went for just $84 per square foot – the least expensive community for detached houses in this year’s survey. A townhouse sold in Quesnel averaged for $55 a square foot.


@ashwadhwani
ashley.wadhwani@bpdigital.ca

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