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Bowen Island/Gulf Islands - help please?
09-04-2014, 07:50 AM,
#33
RE: Bowen Island/Gulf Islands - help please?
Hi Steven. Welcome to VanPeak!

The only “historical” info I’ve managed to find for BI looked at real estate sales in general and I uploaded that data to post #7 in this thread which you may have already seen (two .pdf files at end of post).

Now, you specifically ask about land values and I did a Google search and came across some interesting sites. Dee Elliott, a Realtor and resident of BI, posted a 2012 BI Market report and offers this about land sales:

Quote:9 lots sold in 2012
There are 31 lots presently listed.
The average lot took 917 days or 2.6 years to sell.
Three waterfront properties sold at 49% of their original 2007 values
The others sold at 77% of the original list price.
The average waterfront lot sold at $ 21.58 / sf
The average view lot sold at $9.22 sf
No non view lots sold in 2012

Land values on the Sunshine Coast hit peak pricing in 2007 and then crashed and it looks like a similar scenario on BI; although, not to the same extent since so much land was cleared on the SC.

As for more current BI info, I came across an interesting webpage created by Adam Morton, a UBC professor and BI property owner. His page concerns a current BI development called “The Cape on Bowen”; however, if you scroll down Morton talks about property values. Morton’s webpage can be found here.

Morton offers other worthwhile links including one to a February, 2014 Bowen Island Undercurrent news piece, “Home sales increase, property values keep sinking” and it’s worth a read (mentions increase in foreclosures). That article quotes a BI municipal councillor Wolfgang Duntz who is also a developer. Duntz resigned from the council in March and created this webpage to explain why. In that explanation, he gives two reasons and in “Reason #2” writes:

Quote:…,the last six years in our construction and development business have been “challenging” (to say the least), not much different than for the general real estate market on the island. It has become obvious that this is not the result of a temporary recession, but a fundamental shift in demographics which affects everything from affordability of housing to local economy, local employment, and the island’s social fabric. All of that will require an equal fundamental rethinking and adjustment to the realities of the next 10 to 30 years. In that context, soon we plan to submit two rezoning applications to the Municipality which have been in the works for a long time and which, we hope, will provide a good idea as to whether the public shares our hopes and expectations for Bowen’s future.

So, the demographic shift I’ve been writing about in my SC posts is having a profound effect on BI, too. All very interesting, but doesn’t give you those historical land prices you seek. You might try different searches on the BI Undercurrent site and see what articles you get. And, the same with Google search. The sites I mention above popped up when I tried “Bowen Island land values.” Otherwise, you might have to get in touch with a local Realtor - maybe Dee Elliott would be a good resource.

Let us know what you find.
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Messages In This Thread
RE: Gulf Islands - help please? - by Skook - 02-08-2014, 08:50 AM
RE: Gulf Islands - help please? - by JimmyWW - 02-12-2014, 09:50 AM
RE: Gulf Islands - help please? - by navier - 03-03-2014, 09:31 PM
RE: Gulf Islands - help please? - by JimmyWW - 03-05-2014, 09:40 AM
RE: Gulf Islands - help please? - by navier - 03-08-2014, 07:34 AM
RE: Gulf Islands - help please? - by JimmyWW - 03-08-2014, 05:01 PM
RE: Gulf Islands - help please? - by JimmyWW - 03-05-2014, 12:15 PM
RE: Gulf Islands - help please? - by Skook - 03-05-2014, 01:32 PM
RE: Gulf Islands - help please? - by JimmyWW - 03-06-2014, 03:28 AM
RE: Gulf Islands - help please? - by Skook - 03-08-2014, 06:26 PM
Some more thinking... - by JimmyWW - 03-10-2014, 11:39 AM
RE: Gulf Islands - help please? - by navier - 03-10-2014, 03:24 PM
RE: Gulf Islands - help please? - by Skook - 03-10-2014, 03:55 PM
RE: Gulf Islands - help please? - by JimmyWW - 03-10-2014, 04:19 PM
RE: Gulf Islands - help please? - by Skook - 03-20-2014, 01:36 PM
RE: Bowen Island/Gulf Islands - help please? - by Skook - 09-04-2014, 07:50 AM

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