More lots created in 2018, but down from 10-year average in Kamloops

The city created 30 per cent more residential lots in 2018, but numbers continue to fall below the 10-year average. Last year, 235 lots were created, compared to 181 lots in 2017. The 10-year-average is 249 lots per year.

The largest increase in 2018 was seen from strata lots, at a 79 per cent bump, with 95 strata lots in 2018 compared to 53 lots in 2017.

article continues below

“That’s a substantial gain,” City of Kamloops development director Marvin Kwaitkowski said. “Again, more multi-family type projects. More affordability. There’s been a general shift. In the past, we used to have more of a 60 per cent single-family, 40 per cent multi. That has swung, more of a 60 per cent multi, 40 single-family.”

The city reported a record multi-family construction activity in 2018.

Kelly Reid, president of the Central Interior chapter of the Canadian Home Builders’ Association, said high-end supply has recently come onto the market, but lower-end residential lots are hard to come by.

“Availability is very tight,” he said. “I would say there is not a surplus of lots.”

Lot prices are also steep.

Reid said lots that cost less than $200,000 are rare, while six years ago in Kamloops, lots were available in the $130,000 to $140,000 range.

“Now, that’s long gone,” he said.

© Kamloops This Week
KTW Daily News Alerts

Question of the Week POLL

In light of recent violent activity connected to the drug trade, what is your opinion of safety in Kamloops?

or  view results

Popular Kamloops This Week

Events Calendar