VANCOUVER ISLAND REAL ESTATE BOARD 2019 BUYERPROFILE Notice to Readers The information and data provided in this report have been obtained or prepared from sources that are believed to be reliable and accurate but have not necessarily been independently verified. The authors make no representations or warranties as to the accuracy or completeness of such information and data nor the conclusions that have been derived from their use. Therefore, any use of the information by the reader or other recipient shall be at the sole risk and responsibility of such reader or recipient. The information provided in this report and the facts upon which the information is based as well as the information itself may change at any time without notice subject to market conditions and the assumptions made thereto. The authors expressly disclaim and take no responsibility, and shall not be liable: for any financial or economic decisions taken by any person based in any way from the information presented in this report; for any interpretation or misunderstanding of any such information on the part of any person; and for any losses, costs or other damages whatsoever and howsoever caused in connection with any use of such information, including, consequential or indirect losses, loss of revenue, loss of expected profit or loss of income, whether or not as a result of any negligent act or omission of the authors. 2019 VIREB Buyer Profile 1 Source: Vancouver Island Real Estate Board Introduction Vancouver Island Real Estate Board 2019 Buyer Report Table of Contents Forward ......................................................................................................................................................................9 Objectives and Methodology .....................................................................................................................................9 Questionnaire Survey .............................................................................................................................................. 12 ..... Board Area – Information from Questionnaire Survey ............................................................................... 16 Community Movement ...................................................................................................... 16 Length of Time Lived in Same Community ........................................................................... 16 Moving Back to a Community after Time Away ................................................................... 17 Buyer Origin ....................................................................................................................... 18 Major Reason for Purchase ................................................................................................. 19 First-Time Purchase of Principal Residence (Yes or No) ........................................................ 19 Used RRSP for Down Payment (Yes or No) .......................................................................... 20 Purchased as Retirement Residence (Yes or No) .................................................................. 20 How Buyers First Became Aware of Property ...................................................................... 21 How Buyers First Chose a REALTOR® ................................................................................... 22 ..... Board Area – Home Characteristics from MLS® Data ................................................................................. 24 Selling Price Range ............................................................................................................. 24 Home Type......................................................................................................................... 26 Number of Bedrooms ......................................................................................................... 27 Number of Bathrooms ........................................................................................................ 28 Exterior .............................................................................................................................. 29 Parking .............................................................................................................................. 30 Site Characteristics ............................................................................................................. 30 ..... Board Area – Typical Buyer ......................................................................................................................... 31 ..... Campbell River Sub-Area – Information from Questionnaire Survey ......................................................... 33 Community Movement ...................................................................................................... 33 Length of Time Lived in Same Community ........................................................................... 34 Moving Back to a Community after Time Away ................................................................... 35 Buyer Origin ....................................................................................................................... 36 Major Reason for Purchase ................................................................................................. 37 First-Time Purchase of Principal Residence (Yes or No) ........................................................ 37 Used RRSP for Down Payment (Yes or No) .......................................................................... 38 2019 VIREB Buyer Profile 2 Source: Vancouver Island Real Estate Board Introduction Vancouver Island Real Estate Board 2019 Buyer Report Purchased as Retirement Residence (Yes or No) .................................................................. 38 How Buyers First Became Aware of Property ...................................................................... 39 How Buyers First Chose a REALTOR® ................................................................................... 40 ..... Campbell River Sub-Area – Home Characteristics from MLS® Data ............................................................ 41 Selling Price Range ............................................................................................................. 41 Home Type......................................................................................................................... 43 Number of Bedrooms ......................................................................................................... 44 Number of Bathrooms ........................................................................................................ 44 Exterior .............................................................................................................................. 45 Parking .............................................................................................................................. 46 Site Characteristics ............................................................................................................. 46 ..... Campbell River Sub-Area – Typical Buyer.................................................................................................... 47 ..... Comox Valley Sub-Area – Information from Questionnaire Survey ............................................................ 49 Community Movement ...................................................................................................... 49 Length of Time Lived in Same Community ........................................................................... 50 Moving Back to a Community after Time Away ................................................................... 51 Buyer Origin ....................................................................................................................... 52 Major Reason for Purchase ................................................................................................. 53 First-Time Purchase of Principal Residence (Yes or No) ........................................................ 53 Used RRSP for Down Payment (Yes or No) .......................................................................... 54 Purchased as Retirement Residence (Yes or No) .................................................................. 54 How Buyers First Became Aware of Property ...................................................................... 55 How Buyers First Chose a REALTOR® ................................................................................... 56 ..... Comox Valley Sub-Area – Home Characteristics from MLS® Data .............................................................. 57 Selling Price Range ............................................................................................................. 57 Home Type......................................................................................................................... 59 Number of Bedrooms ......................................................................................................... 60 Number of Bathrooms ........................................................................................................ 60 Exterior .............................................................................................................................. 61 Parking .............................................................................................................................