The Fraser Valley is the region of the Fraser River basin in southwestern British Columbia downstream of the Fraser Canyon. The term is sometimes used outside British Columbia to refer to the entire basin including the Fraser Canyon and up from there to its source, but in general British Columbian usage of the term refers to the stretch of the river downstream from the town of Hope, and includes all of the Canadian portion of the Fraser Lowland and areas flanking it. Located an hour east of Vancouver, the Fraser Valley is home to trending restaurants, over 30 wineries, and a growing number of breweries, all emphasizing farm fresh and local ingredients.
Why should I invest in Fraser Valley?
Great for your tenants! Ths area is close to Vancouver, but away from the hustle and bustle (and the high housing costs). Surrounded by expanses of farmland, yet with quick access to shopping, airports, and mountains, this is a family friendly area but also attractive to working professionals looking to escape the rush of city living.
Good variety of jobs and industry! The Fraser Valley has a population of about 257,000 (2006). The major industries in the Fraser Valley reflect that of the whole province. Forestry, agriculture and trade are the top job-creating industries, followed by tourism.
Many urban centers within the region! Langley is considered the west end of the Fraser Valley, before the Trans-Canada Highway hits the non-stop suburbs of Vancouver. On the north bank of the Fraser river are the two communities of Pitt Meadows and Maple Ridge; Abbotsford is the next city to the east, which has a significant airport (YXX) serving 500,000 passengers a year. The city of Mission is the largest community on the north bank of the Fraser, and is just north of Abbotsford. Then there is Chilliwack, with Cultus Lake and other great recreational areas just to the south. Finally there is Hope, considered the gateway to Interior BC.
Long term Outlook –The Province of BC holds the top spot in provincial economic growth. Because of the strong economy, affordability and high quality of life, many individuals and families are migrating to Vernon. This holds particularly true for the Greater Vancouver area and several of the Eastern provinces.
Fraser Valley Market Facts (Last Published):
- Active Listings: 5024
- Active Listings Peak (last 10 years): 10,474 (in July 2008)
- Average Days on Market: 24
- Year over Year Price Increase: $702,610 (18.1%)
- This is across all property types and includes the following cities: Mission, Abbotsford, Langley, Surrey, Delta and White Rock
As of 2016, the Fraser Valley Regional District population was 295,934, an increase of 6.6% over their 2011 census population.