The annual "Where to Buy Now" rankings have been released by Money Sense and Kelowna has shown well in 2018.
The ranking is determined by a data-driven test that factors in price momentum, employment, value relative to nearby areas and the cost of renting to determine its top 35 ranking.
"Overall, the Money Sense ranking is looking at the overall return on ownership of a home," said Elton Ash of ReMax.
"Kelowna continues to prove it's a very attractive city in Western Canada and continues to perform well from an investment point of view."
According to Ash, the real estate market in B.C. is in a rebalancing position due to tax forms and new mortgage policies.
For Kelowna, demand has remained high, however, inventory levels have increased which will likely keep prices from rising during 2018.
While prices may not be expected to increase, that doesn't mean the province is inexpensive. Vancouver, Victoria, Abbotsford-Mission and Kelowna all cracked the top five for average home price.
So where does Money Sense believe is the top city to invest in?
This year’s top ranking is none other than the birthplace place of Wayne Gretzky.
According to MoneySense, Brantford, Ontario’s “attractive" housing market is benefitting from an adaptive local economy, low unemployment and strength in the Golden Horseshoe region, which extends from Niagara to Peterborough.
Check out the full list below:
The strong ranking is likely another sign to buy a property if possible, as Kelowna's rental vacancy rate is one of the worst in the country.
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