Housing continues to be more attainable in Kamloops than many other areas of B.C.
New data from Zoocasa ranked Kamloops as the second-most-affordable-city out of 20 B.C. cities.
Brendan Ogmundson, deputy chief economist with the BC Real Estate Association, says among the reasons for that is income growth here has been about two per cent above inflation since 2010.
“I think one of the things, we look at Kamloops or Prince George which is also on the list, population growth has been less than the provincial average for the past few years,” Ogmundson says. “So there hasn’t been a ton of pressure on the existing housing stock, so prices haven’t risen say the way they have in Vancouver.”
The Zoocasa report ranked only Prince George as more affordable than Kamloops in B.C.
The report says the benchmark home price in the Tournament Capital is just under $406,000.
The full report from Zoocasa can be seen here.