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KELOWNA
ANNUAL HOUSING REPORT
PREPARED BY POLICY & PLANNING DEPARTMENT - MARCH 2020
EXECUTIVE SUMMARY
The Kelowna housing market had another strong year in 2019. Several of the broader events and trends that influenced the 2019 housing
market are highlighted below.
Strong economy: Demographic shifts:
The unemployment rate hovered Kelowna has seen steady population
around 4 per cent in 2019 due to major growth over last 5 years. Most of the
employment growth in 2016-17. growth is the result of interprovincial and
KELOWNA ANNUAL HOUSING REPORT PREPARED BY POLICY
EXECUTIVE SUMMARY The Kelowna housing market had
INTRODUCTION HOUSING MARKET STABILIZES IN 2019 T
LONG-TERM RENTAL HOUSING KELOWNA’S RENTAL BOOM O
BIG BUSINESS OF RENTAL HOUSING Kelowna’s rental
TALE OF TWO RENTAL MARKETS Kelowna’s long-term r
RENTAL MARKET SUMMARY The surge of new rental un
OWNERSHIP HOUSING MULTI-FAMILY MOVES THE MARKET
ENTRY LEVEL (BELOW $400,000) The entry level own
MID-MARKET ($400,000-$699,999) The mid-market wa
HIGH END MARKET ($700,000-$1,000,000) The upper
CONCLUSION The key trends in 2019 show that Kelow
Notes i Canada Mortgage and Housing Corporat