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A large number of British Columbians are targeting Kelowna and the Okanagan as a possible in-migration destination.
That's one of several findings from Resonance Consultancy's 'Future of B.C. Housing' study.
The study shows, over the next five years, more than four in 10 home owners and seven in 10 renters are planning to buy, or rent, a different home.
Three-quarters of those say they plan to stay in the same city or region but, of those planning a change, 13 per cent chose Kelowna and the Thompson-Okanagan as a most likely destination.
A location outside B.C. was the number one relocation destination at 27 per cent while the Lower Mainland was second at 25 per cent.
The survey shows people in B.C. continue to be concerned about the state of housing with 74 per cent saying housing is unaffordable.
“Despite concerns about the affordability of housing in Greater Vancouver, it remains the most popular and desirable place in the province to live,” says Resonance Consultancy president, Chris Fair.
“However it’s concerning to see that for those considering moving to a different region, the most popular choice is to leave the province all together.”
More than 80 per cent of British Columbians believe the impact of foreign investors and buyers has led to higher housing prices.
When asked about sustainable solutions in order to address the current housing affordability issue in the province, at least two-thirds of British Columbians favour taxing (70 per cent) or limiting (67 per cent) foreign investment in the housing market.
Fewer than half of residents support investing more in amenities and infrastructure in suburban areas to create new economic centres (47 per cent), increasing the housing supply by fast-tracking approvals of new rental buildings (45 per cent), and revising zoning in suburban areas to permit development of more multi-family housing (44 per cent).
Only 10 per cent would agree to increase property taxes on single-family homes to encourage higher density development.
