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Multiple Listing Service
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Multiple Listing Service
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Introduction
There are prime building locations serviced and available in District of Vanderhoof municipal boundaries. Over the past threes years the District has invested $1.5 million in water systems improvements, $2.6 million in sewer upgrades and $9.91 million in general infrastructure projects to support development in the area. Great locations already exist; there are areas where the older homes may be replaced with a new building.
Building Permit Values: 2000-2004
The continued in-migration to the Vanderhoof area is fuelled by the increase in forest industry activities and industrial construction demands. Sales in 2005 showed a substantial increase and listings were thin. A number of new projects are in planning stages. Demand is strong for multi-family, townhouses and recreational properties. There was almost a 300% increase in building permits from 2003 to 2004. (See table below).
Industrial, Commercial and Development Property Inventory
The District of Vanderhoof has the following types of developable and open land in its inventory, held by private owners, the municipality, on Crown Land and within the Agriculture Reserve.
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Single family dwelling lots
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Multiple family dwelling lots
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Subdivision lands
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Manufactured home subdivisions
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Light and heavy industrial – some properties adjacent to rail sidings
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Downtown commercial lots
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Highway commercial
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Airport commercial
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AG Land
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Recreational properties
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Office Space Inventory
There are key locations available for rent or purchase on Highway 16 and two main downtown streets: Burrard and Stewart as well as other prime locations. The downtown beautification includes benches where customers can pause outside your office or visit with friends. Average lease costs for commercial space are $7 per square foot triple net at time of inquiry. Industrial spaces are generally are owner-occupied.
Land Use in Vanderhoof: 2005
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Classification |
Acres |
% |
|
Agriculture Lands |
5,850 |
43.16 |
|
Rural Holdings – Small & Large |
3,818 |
28.17 |
|
River, Islands, Wetlands |
981 |
7.24 |
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Public Uses & Facilities, inc Airport |
852 |
6.29 |
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Industrial – Light, Medium & Special |
750 |
5.53 |
|
Residential – Single Family |
620 |
4.57 |
|
Residential – Mixed, Mobile Homes |
189 |
1.39 |
|
Educational, Health & Museum |
110 |
0.81 |
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Retail & Highway Commercial |
74 |
0.55 |
|
Utilities |
10 |
0.08 |
|
Unclassified – Roads, Other |
301 |
2.23 |
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Total |
13,556 |
100% |
Comparative Building Statistics
District of Vanderhoof Numbers of Permits Issued for Construction & Value (in $) 2000-2005
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|
2005 |
2004 |
2003 |
2002 |
2001 |
2000 |
|
Type of Construction |
Permits |
Value |
Permits |
Value |
Permits |
Value |
Permits |
Value |
Permits |
Value |
Permits |
Value |
| Single Family (new) |
12 |
1,312,682 |
14 |
2,040,825 |
7 |
1,138,460 |
3 |
385,005 |
4 |
324,700 |
15 |
2,149,000 |
| Two Family (new) |
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|
1 |
107,250 |
1 |
107,250 |
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| Multiple Family (new) |
1 |
170,240 |
2 |
647,040 |
2 |
717,300 |
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| Dwellings (add/renos) |
8 |
56,730 |
16 |
245,350 |
22 |
314,290 |
17 |
217,648 |
15 |
303,430 |
6 |
182,000 |
| Commercial (new) |
2 |
69,640 |
2 |
5,225,000 |
3 |
768,113 |
1 |
223,000 |
2 |
575,000 |
1 |
3,000 |
| Commercial (add/renos) |
1 |
497,650 |
2 |
725,000 |
4 |
235,150 |
3 |
279,000 |
5 |
344,000 |
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| Industrial (new) |
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1 |
155,500 |
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1 |
84,000 |
1 |
750,000 |
| Industrial (adds/renos) |
5 |
9,096,301 |
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1 |
258,500 |
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2 |
185,000 |
1 |
125,000 |
| Civic Buildings |
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1 |
200,000 |
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| Office (adds) |
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4 |
330,000 |
| Institutional (new) |
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1 |
10,000 |
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| Institutional (adds) |
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1 |
50,000 |
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3 |
171,000 |
2 |
25,500 |
| Garages/carports (private) |
3 |
98,160 |
13 |
326,070 |
10 |
248,420 |
7 |
154,080 |
8 |
62,200 |
11 |
179,300 |
| Mobile Home Foundations |
2 |
11,000 |
4 |
36,000 |
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2 |
7,000 |
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2 |
100 |
| Totals |
58 |
11,312,403 |
58 |
9,290,285 |
54 |
4,023,253 |
34 |
1,372,983 |
42 |
2,266,830 |
46 |
3,797,029 |
Source: District of Vanderhoof
Housing Prices & Rents
Vanderhoof offers a sound investment opportunity in the real estate market. Not as volatile as market areas in southern British Columbia, land values steadily increase with a slight sudden increase in demands and selling prices over the past nine months. The demand for housing is strong and is projected to increase as the area population grows to accommodate the need for industry employees and recreational property owners.
New residents moving into Vanderhoof are coming from another part of British Columbia or Canada. An assortment of affordable housing types and designs are available in Vanderhoof District Municipality, acreages just minutes away from downtown, and larger agricultural properties between 5 and 30 minutes from town. There were 106 properties of all types sold in the Vanderhoof and Fort St. James area in the first six months of 2005, up from 98 in the same period last year. At the end of June there were 240 properties for sale through Multiple Listing Sales in the area compared to 261 at this time last year.[i][i]
| |
Price |
Rent |
| Apartment / Townhouse |
n/a |
$400-$600 |
| Bungalow Standard |
$90,000-$180,000 |
$500-$700 |
| Executive Home |
$225,000-$385,000 |
$700+ |
| Mobile Home (Trailer) |
$16,000-$60,000 |
$400-$600 |
| 5 acres plus home |
$90,000-$250,000 |
varies |
| Recreational - Land only |
$18,000-$60,000 |
n/a |
| Recreational - Land + building |
$45,000-$145,000 |
unknown |
Source: Re/Max Vanderhoof Real Estate and Omineca Express
Owning a home in Northern British Columbia remains much more affordable compared with the burden of home ownership in Vancouver. For 2004, the Housing Affordability Index for northern British Columbia was 22.2% compared with 47.1% for Vancouver.[i][ii]
Regional figures provided by BC Stats (2001) are representative of Vanderhoof. The average value of owner-occupied private dwellings is $130,660 compared with the provincial average of $230,645. The average gross rent in the Bulkley Nechako Region is $558 compared with the province’s average of $750. The average owner’s major payments are $722, while the British Columbia average is $904.
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