The Okanagan population continues to grow with Kelowna leading the way resulting in a decline in vacancy rates. Demand continues to increase over supply creating stable cap rates and returns.
- Average price per suite reaches $280,000.
- Vacancy drops to 2.1%, Rutland sees minimal vacancy at 0.4%.
- Rental rates see an increase of 3.4%, with an average rent price of $1,255 for 1-bedroom suites.
- The entire Okanagan market has lower vacancy rates in comparison to Vancouver and Victoria.