How`s Dawson Creek rental market?
- Thread starter LillianHo
- Start date
Vacancies are higher than in FSJ due to lower demand and more new product on the market. I've had the equivalent of one unit vacant for 9 months of 2013.....1 yr old units, appropriately priced - in fact, had to reduce prices by approx 10% to fill them. One is still vacant.
Vacancy rate does impact your cashflow, so you need to worry about both of them together. They can't be considered separately. I would proceed cautiously. With all due respect to those selling new housing up there, I think the market rents being projected are optimistic.
Susan
Vacancy rate does impact your cashflow, so you need to worry about both of them together. They can't be considered separately. I would proceed cautiously. With all due respect to those selling new housing up there, I think the market rents being projected are optimistic.
Susan
- Joined
- May 9, 2012
- Messages
- 59
I tend to stay away from newly built properties for rental. They are obviously more expensive than existing ones and have to add GST on the price. You might be able to charge a premium for it being new, but after a year or two not very likely... depends more on tenant behaviour and your maintenance.
In Dawson Creek a lot of new builds are coming into the market, and I feel there will be some pressure on rent. Even though summer months are little slower and hard to fill a vacancy, I believe in-migration is strong and we will see overall increase in rents and property value in the long term.
I actually focus on Dawson Creek and Fort St. John for investing.
Just my opinion...
In Dawson Creek a lot of new builds are coming into the market, and I feel there will be some pressure on rent. Even though summer months are little slower and hard to fill a vacancy, I believe in-migration is strong and we will see overall increase in rents and property value in the long term.
I actually focus on Dawson Creek and Fort St. John for investing.
Just my opinion...
- Joined
- Jan 4, 2013
- Messages
- 2
I have been interested in some of the new housing projects in Dawson Creek as well. I feel that there is an advantage to new construction if you are able to build your own residential units. Land prices seem to be fairly reasonable when compared to other surrounding areas i.e. FSJ and Grande Prairie. However; I don't know that there is value in paying market price for a new home directly from a builder/developer, in this case you are probably better to invest in existing real estate.