Hardly likely! With growth rate of 9.25% in 2017 alone it is the fastest growing community in British Columbia.
Cosens Team states that Salmon Arm City building department figures for July 2018 show that 79 building permits have been issued for single family residences so far this year. This is up from 73 last year which was a record year for Salmon Arm. The city also up to July has issued permits for eight buildings, consisting of 27 units. Also 67 permits were issued for additions to single family homes. The value of building permits issued by the end of July totalled $37,540,412. Cosens Team exclaims that it is the most Salmon Arm City has seen for this time of year since 2008. Also remarkably exceeding the total issued for the entire 2015. The value throughout the Salmon Arm /Shuswap area is highly desirable says the Cosens Team. Our Real Estate boards buyers survey of August 2018 reveals that 20.50% of our current buyers are from the lower mainland. With record housing prices on the coast folks are getting tired of the growing traffic congestion as well the feeling that there neighbourhoods just don’t feel the way they did, twenty years ago. They are feeling the need to slow down and enjoy a more peaceful living environment especially the Baby Boomers. Salmon Arm, with the extraordinarily beautiful Shuswap Lake at their doorstep, (#1 Boating Lake in Canada) fits the bill. Not to mention price differential between the two area’s. Cosens Team explains that the reason Salmon Arm is popular is that we have plenty of Doctors, unlike a lot of other urban areas of the province, as well low taxes and a low crime rate. Salmon Arm is well known to be one of the best places to retire in all of Canada. Our second greatest migration is from Alberta (11.91%). A great many Albertans vacation in our lush area and now upon retirement want to live in paradise. In closing the Cosens Team exclaim all you have to do is drive around this beautiful community with all of its incredible lake view properties and marvel at all the high end developments/homes being built. Salmon Arm is growing and you couldn’t live in a more beautiful community in all of Canada.
