Quarterly Newsletter, September 2006

Gabriola Real Estate Activity for Past Quarter

There have been 35 sales and 4 conditional sales since July 1st, 2006 as compared to 51 total sales for this time last year.  The median price for the summer of 2006 is $248,000 as compared to the summer of 2005 at $250,000. Total number of properties currently on the market is 102. Of these 42 are bare land and the rest are residential. In addition there are 6 commercial properties for sale.  

Market activity and values are slightly lower but appear to be remaining stable at this time. Values of small bare lots remain strong and activity is high on these properties.

For information on mortgage financing options, http://www.rightmortgage.ca/
Buyer profile - Vancouver Island Real Estate Board released its 2005 buyer profile, results showed 11% of buyers originate from Alberta, 8.9% from Ontario, and 70% from BC - 39% are buying a retirement home.
 
Primary Care Clinic - through the efforts of local doctors, the Vancouver Island Health Authority and local fundraising there will eventually be a diagnostic and treatment center on Gabriola available 24 hours a day 7 days a week. This will need much local support and fundraising to become a reality - for information contact primarycaregabriola@yahoo.ca
Old growth nature reserve protected - 160 acres of crown land has finally been transfered to the Islands Tust as a nature reserve, the Islands Trust Conservancy will develope a management plan and new name for this property, until then hiking in the preserve is allowed.

Gabriola Gathering Place Youth Centre at the Hope Centre offers 10 programs for youth, visit their web site www.gabriolahopecentre.com
 
Temporary use permits are required by the Islands Trust for short term vacation rentals and for bulk water extraction (for water sales), so far no one has applied, the Trust is looking at a draft ticketing bylaw in order to fine those that are not in compliance. For information about Islands Trust issues www.islandstrust.bc.ca
 
*Community Events
http://www.gabriolalife.com/
We hope you have enjoyed this Quarter's newsletter!
 
Sincerely,
Lesley & Robyn McMahon