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Out-of-towner home buyers flocking to Powell River

If the first month of 2021 is any indication, more out-of-towners are putting down stakes in Powell River and the Sunshine Coast.

So says Neil Frost, president of the Powell River, Sunshine Coast Real Estate Board, who crunched numbers for January.

Frost said it was a record month for out of town transactions, with over one-third of sellers being from out of town, and a whopping 70 percent of buyers from out of the area.

He said local realtors also sold 10 pieces of raw land in January, compared to only 40 lots in all of last year.

Frost also found that a third of the sales were investment properties, and not new builds.

He says that likely points to the sale of rental properties, but many buyers identified that they were buying for investment, so hopefully not all of these were pulled out of the region’s already low rental pool.

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