7 Economic Indicators Investors Want to Know About Kamloops, British Columbia

Is there any reason why sophisticated real estate investors see Kamloops and are considering investing seriously? However, reputable investors do not play with their money; They track the results and they research before spending a penny. But why Kamloops? If you are not sure what investors see when exploring the region, here are some prominent economic factors.

1. Population growth

The main determinant of demand, population growth, is an important factor to consider. From the last census data (2001-2006) the population in Kamloops grew by 4%. This is slightly less than the overall growth of British Columbia, which grew by 5.3% at the same time. Population growth will rise to 5% between 2009 and 2014.

If you focus on a particular environment, population growth will be more interesting. The Aberdeen region grew by 14.7%, North Shore by 4.8% and South Kamloops by 4.7%.

2. Sales growth

Investors see good earnings growth as they support the appreciation of real estate. The average income growth in Kamloops exceeded the province by 9.5% between 2001 and 2006. The average income in Kamloops grew by 21.5%, while SM grew by 12%.

3. Transportation

The city is known as a traffic hub and is located at the intersection of three major highways and two railway lines. This makes Kamloops an excellent place to do business, and many manufacturing companies have decided to use this transport network to their advantage. As a general rule, the more available modes of transport in a city, the easier it is to diversify the economy.

4th work

Kamloops offers many entrepreneurs in different sectors of the economy. Agriculture, forestry, hi-tech, retail, mining, tourism and more play a role here. The main employers in the city include: Regional Health Authority Interior (3000 employees), School District # 73 (2000 employees), Thompson Rivers University (1725 employees), Copper Highland Valley (1134 employees), City of Kamloops (630 employees) and BC Lottery Company (433 employees).

5. Area of ​​renewal

Investors are looking for renewal areas to increase the attractiveness of an area and increase real estate prices. Two prominent renewal areas in Kamloops are: Kamloops City Center and North Shore Community Center. Both regions have a plan that is in the neighborhood, and in 2010 reconstruction is already underway. In addition, both regions have tax incentives for developments that are in line with Community plans.

6. Is the Office of Economic Development an advantage?

Economic Development Office was friendly and helpful to help promote growth and attract new businesses to the area.

7. Do urban leaders lead growth?

Political leadership is a key factor in the continued performance of a city. Without a friendly and productive business environment, only a few new companies move into the region, and existing ones can be relocated elsewhere, reducing the overall number of jobs. The various community plans and development incentives that already exist are a good example of Kamloops’ forward thinking and positive attitude. As long as the city follows this line, Kamloops must continue to flourish.

These are some of the many positive economic indicators Kamloops offers, and with a little research, anyone interested can find more. Although they do not guarantee that investors will earn money in real estate (there are too many other variables for that), it indicates which areas to invest.

My name is Glen Murray and I am the REALTOR in Kamloops, British Columbia. I handle all types of residential real estate, but I specialize in residential real estate investors, family homes and condominiums in Kamloops.

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