The Real Estate Investment Network says Surrey's real estate market is set to outperform other regions in the province over the next three to five years.

Surrey’s real estate market hottest in the province over the next 3-5 years: Report

This city ranked number one out of hundreds of municipalities and towns in British Columbia, according to the Real Estate Investment Network.

Surrey has been rated the hottest market for housing investment in the province by the Real Estate Investment Network (REIN).

REIN, a leadingn real estate research organization in Canada, has released it’s latest report on the top cities and towns in B.C. for real estate investment.

Surrey took top spot.

The report titled Top British Columbia Investment Towns 2011, analyzes the current and future prospects for real estate investment opportunities across the province, and identifies the top regions that will outperform in the coming decade.

The findings are based on in-depth research, analysis of the latest statistics, economic and social trends, and on-the-ground reports from REINs research staff and members, along with reports and statistics from organizations such as Canadian Mortgage and Housing Corporation (CMHC), Statistics Canada, Multiple Listing Service (MLS), Canadian Home Builders Association, city and regional real estate boards, and local economic development offices.

Anita Huberman, CEO of the Surrey Board of Trade is unsurprised by Surrey’s great performance.

“We’re doing everything we can to make sure Surrey is a great place to invest,” Huberman said Tuesday. “So, it does not come as a surprise.”

That said, she believes now is no time for complacency.

“I don’t think Surrey in its current economic climate has the ability or the time to rest on its laurels,” she said. “I think more needs to be done.”

The REIN report looks at such factors as:

Is the area’s population growing faster than the provincial average?

• Are new infrastructures being built to handle that growth?

• Is the area creating new jobs and taking steps to maintain current employment levels?

• Will Surrey benefit from an economic or real estate ripple effect?

• Has political leadership created an economic growth atmosphere?

• Are there major transportation improvements in the works?

Don R. Campbell, president of REIN, states in the report, “As one of the fastest growing cities in the province, Surrey has spent recent years diversifying its economy and has experienced a tremendous population increase in the last decade. Currently recognized as the 12th largest city in Canada, Surrey is expected to overtake Vancouver’s title as the largest city in B.C. in the next decade.”

Campbell went on to say, “Surrey will reap the benefits from the Gateway and TranLink program. A number of projects are in various states of completion that will positively impact the commute for residents to and from Surrey and improve transportation logistics for businesses. In the next decade, the city will continue to see explosive population growth, one of the most important factors to consider when deciding where to invest.”

The top towns ranked in the report are:

1). Surrey

2). Maple Ridge and Pitt Meadows

3). Kamloops

4). Abbotsford

5). Fort St. John

6). Dawson Creek

7). Kelowna

8). Comox Valley

9). Penticton

10). Prince George

11). Vancouver

Founded in 1993, REIN has grown over the years to become Canada’s leading real estate research, investment and education organization. It serves more than 3,000 member clients who own more than 26,000 properties (valued at over $3.3 billion) across the country.

Members use the unbiased research and proven systems to invest in properties in economically strong regions across the country. REIN does not sell or market real estate to its members or the general public, but instead conducts objective and unbiased research, analysis and investor education.

For more information please visit www.reincanada.com

To order a copy of the complete Top British Columbia Investment Towns research report visit www.topbctowns.com

 

 

 

 

 

 

 

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

Just Posted

‘Each step is a prayer’: Ojibwe man will walk from Hope to Vancouver Island for Indigenous healing, reconciliation

James Taylor departs Sept. 20, returns to Saanich in five days for sacred fire

Surrey school district proposing 13 new schools in the next decade

Staff suggest new designs for future builds to maximize school space

Delta McDonald’s temporarily closed after employees test positive for COVID-19

Two employees at the Annacis Island location (1285 Cliveden Ave.) reported testing positive on Sept. 18

Two Surrey schools report COVID-19 exposures, including second contact for Panorama Ridge

Fraser Health has created a new webpage listing COVID-19 cases in schools

Surrey school district student enrolment down from projections

‘That’s not something I can say in my time in Surrey, I have ever said at the board table’: superintendent

3 new deaths due to COVID-19 in B.C., 139 new cases

B.C. confirms 40 ‘historic cases,’ as well

Ferry riders say lower fares are what’s most needed to improve service

Provincial government announces findings of public engagement process

Air quality advisory ends for the Lower Mainland

It had been in effect since Sept. 8

Supreme Court Justice Ruth Bader Ginsburg dies at 87

The court’s second female justice, died Friday at her home in Washington

Emaciated grizzly found dead on central B.C. coast as low salmon count sparks concern

Grizzly was found on Gwa’sala-‘Nakwaxda’xw territory in Smith Inlet, 60K north of Port Hardy

Is it time to start thinking about greener ways to package cannabis?

Packaging suppliers are still figuring eco-friendly and affordable packaging options that fit the mandates of Cannabis Regulations

VIDEO: B.C. to launch mouth-rinse COVID-19 test for kids

Test involves swishing and gargling saline in mouth and no deep-nasal swab

Young Canadians have curtailed vaping during pandemic, survey finds

The survey funded by Heart & Stroke also found the decrease in vaping frequency is most notable in British Columbia and Ontario

B.C. teachers file Labour Relations Board application over COVID-19 classroom concerns

The application comes as B.C.’s second week of the new school year comes to a close

Most Read