SURREY (NEWS 1130) – Surrey may be BC’s “second city” but it is the number one place to invest in the province, according to a new report.
It has topped a list of the 10 towns and cities with the best real estate potential.
Surrey’s proximity to major transportation and trade routes, a six per cent growth in businesses last year, and its relative affordability helped push it to the top of the list.
Don Campbell is a senior analyst with the Real Estate Investment Network, which prepared the report.
“So, we’re looking at population growth, job growth, we’re seeing transportation growth and densification. All of those factors are starting to play into Surrey being the outperformer in the whole region.”
He expects Surrey’s real estate market will outperform the rest of the province for the next five years.
“So, you’re starting to see that the demand for secondary suites, the demand for densification is really occurring as the population is growing both in births and in migration.”
Campbell points to a number of other attributes also working in Surrey’s favour.
“Demographics, economics, transportation, location, and, if you said this in any other province there would be laughter but, affordability.”
Second and third were Abbotsford and New Westminster, respectively.
The complete list, in order:
3. New Westminster
8. The Tri-Cities (Coquitlam, Port Coquitlam and Port Moody),