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Sunshine Coast - Land Sales (2014 & Historical)
01-24-2015, 10:08 AM, (This post was last modified: 01-24-2015, 10:11 AM by Skook.)
#12
RE: Sunshine Coast - Land Sales (2014 & Historical)
Dec 2014 SC Land Sales

There were 7 vacant land sales in December with 3 in Sechelt, 1 in Halfmoon Bay and 3 in the Pender Harbour area. 2014 total sales (68) were a definite improvement over 2013 (54) and slightly better than 2012 (65), but fell short of 2011’s 75 sales.

[Image: attachment.php?aid=1050]

The increased interest in land this year was definitely influenced by falling prices particularly in the rural areas. A great example was V1082110 - Lot 20 Claydon Rd in Garden Bay (Pender Harbour). The 40.0 acre parcel went on the market in August at $599,000 dropped in November to $399,900 and sold in December at $385,000. Mind you, this was not a flat low bank waterfront parcel but it was waterfront and the views from the stop of this rising property were impressive. More than likely though, this was probably bought as an investment property.

The table and chart below put the 2014 sales in perspective. On a year-to-year basis, 2014 was a 26% improvement over 2013 but I’m not even sure I could predict reaching 2010 sales (97). It would take a massive migration to the coast to touch those 2002-2005 levels and I don’t think the Chinese are really interested in rural life anymore...LOL (or anyone else for that matter); but, heck, never-say-never.

[Image: attachment.php?aid=1051]

When I can, I hope to revisit this post and offer my thoughts on future land sales. Prices are continuing to drop in the more rural areas and if we do see deflation as a result of the oil shock I can see many trying to unload vacant properties if they are paying mortgages; in fact, I am seeing it already in the towns were individuals are selling off portions of their acreages. Yes, 2015 will be an interesting year on the SC and everywhere else.


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RE: Sunshine Coast - Land Sales (2014 & Historical) - by Skook - 01-24-2015, 10:08 AM

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