Kelowna CMA Housing Outlook

• Oil Prices and the Canadian Dollar
• Improving Labour Markets
• Population will expand adding new households
• Migration and demographic shifts
• Mortgage interest rates to rise gradually

BC to lead in 2016 growth

New Households drive Housing Demand

Demographics may influence Housing demand

Mortgage interest rates to rise gradually

Mortgage interest rates to rise gradually

Annual MLS Sales

Annual prices continue making steady gains

Prices steady for Multi unit segment

Housing Stats by 2015 Census

Multi Unit inventories

Kelowna Housing Market summary

•  A steady pace of housing starts is expected
• Multi unit homes are expected to make up a greater portion of total starts
• MLS prices to move higher – sales are forecast to stabilize over a 10 year average