Did you know that Fort St John ranks as the 3rd best town to invest in BC?
What makes this Peace River North town an attractive investment opportunity?
Last year, we did a geographic overview of Fort St John and what makes it an attractive investment opportunity.
Here’s a short summary of what REIN has to say about this town.
British Columbia’s “Oil and Gas capital” is estimated to have one of the largest natural gas deposits in North America – most of it still largely untapped. With the fairly recent attention being focused on the region as a viable source of shale based natural gas, REIN believes the city will experience a boost in its economy as exploration and production in the area increases. As new drilling techniques for shale are discovered, the area may become even more lucrative to oil and gas companies. The city has been nicknamed “the Fort McMurray of BC,” and REIN believes this is not far from the truth. The city’s current fundamentals echo Fort McMurray, Alberta 10-15 years ago.
“People have begun to move to Fort St. John in droves because of the high wages and ease of getting work and this is compounding an already existing constricted housing supply problem,” said Don R. Campbell, one of the report’s authors and Senior Analyst for the Real Estate Investment Network. “Rents in the region are rising and prices are beginning to follow suit. The major demand for housing in the region is currently rental product but as the labour market in the region matures, we expect this demand to shift to single-family, owner-occupied housing. Investors have been clamoring to get a piece of the region but have found it very difficult – there is nothing to buy!”
With several major projects set to be completed in Fort St. John during the next decade, the city will continue to witness rapid population growth. The opening of the Site C dam project in 2020 will re-establish the city as a hub for northeastern BC. The ripple effect created by this major project will increase rents and home prices in the region, making it even more desirable to investors and businesses.
“It is important to keep in mind that as natural gas and oil prices fluctuate,” said Mr. Campbell. “So too will the northeast British Columbia economy. Property investors in this region must not only be experts in real estate - they must also become students of the of the many macro- and micro-cycles that play out in the natural gas industry.”
During this meetup, learn about what makes Fort St John such a great investment town. We have a great speaker lined up.
• Jennifer Moore – Peace River Region - Economic Development Office
Remember that opportunities come from the connections we make. The more people you connect with, the better your chances of finding something or someone to lead to success.
We’ll be starting a little earlier at 7pm. Please RSVP and be on time.
See you on the 11th!