A real estate sold sign is shown outside a house in Vancouver, Tuesday, Jan. 3, 2017. nbsp;Real estate brokerage Royal LePage says home prices are increasing in Canada’s cottage country, as more buyers look to move there full-time. THE CANADIAN PRESS/Jonathan Hayward

A real estate sold sign is shown outside a house in Vancouver, Tuesday, Jan. 3, 2017. nbsp;Real estate brokerage Royal LePage says home prices are increasing in Canada’s cottage country, as more buyers look to move there full-time. THE CANADIAN PRESS/Jonathan Hayward

Home prices rise in cottage country amid demand from remote workers, retirees

The data from Royal LePage comes amid an overall uptick in home prices this year,

Home prices are increasing in Canada’s cottage country as more buyers look to move there full-time, according to a report released Monday by Royal LePage.

Prices of single-family recreational homes rose 11.5 per cent to an aggregate of $453,046 in the first nine months of the year, the real estate brokerage said.

The data from Royal LePage comes amid an overall uptick in home prices this year, after COVID-19 lockdowns stymied the spring buying season. A rush of demand and a limited supply as the economy reopened this summer and fall meant that home prices were up 15.2 per cent last month in Canada compared to a year ago, according to the Canadian Real Estate Association.

Royal LePage chief executive Phil Soper says the number of cottages, cabins, chalets and farmhouses on the market have also dwindled amid the increased demand, at least through September.

“Inventory levels are the lowest I’ve seen in 15 years,” said Heather FitzGerald, a Royal LePage agent in Moncton, NB, in the report. While local buyers have moved away from cities and closer to nature, FitzGerald also noted an increase in buyers from Ontario and Quebec. Corey Huskilson, another Royal LePage agent quoted in the report and based in Halifax, said buyers from outside of the Maritimes, “who expect to be working remotely for the foreseeable future, are flocking to the area.”

Real estate agents in 54 per cent of regions told the brokerage that there was a significant increase in buyers looking to work remotely at a cottage as a primary residence.

Eric Leger, a Laurentians-based agent, said in the report that Quebec’s lockdown periods “sparked an urgent desire for many city dwellers, in need of more living space, to relocate to the suburbs and cottage country.”

Agents in other provinces noted similar trends, with one agent noting that Alberta-based buyers are competing with people across the country for properties in Canmore.

“Highway developments have reduced the drive from Saskatoon to 1.5 hours, which makes working remotely more possible for those who still have to go into the office a few days a week,” said broker Lou Doderai in the report.

The report says retirees have also bid up cottage prices, with agents in 68 per cent of regions saying more retirees are buying cottages this year compared to last year.

“Retiring baby boomers have been putting upward pressure on prices and reducing inventory for the last few years. Retirees are now finding themselves competing against remote workers,” said Bob Clarke, an agent in Ontario’s Muskoka region, in the report.

“The most common question used to be ‘is the property West-facing?’ Now my clients’ biggest concern is internet quality.”

READ MORE: Calling all eccentric millionaires: ‘Schitt’s Creek’ motel up for sale for $2 million

Anita Balakrishnan, The Canadian Press


Like us on Facebook and follow us on Twitter.

Want to support local journalism during the pandemic? Make a donation here.

CoronavirusReal estate

Just Posted

Robin Sanford and her fiance Simon Park were married in an impromptu ceremony at Abbotsford Regional Hospital on June 16. (Submitted photo)
Mom dies day after witnessing daughter’s hospital wedding in Abbotsford

Nurses help arrange impromptu ceremony in 3 hours for bride and groom

Tourism Abbotsford has launched the ‘Let’s Go Do Something’ campaign to encourage visitors to check out all Abbotsford has to offer. (Tourism Abbotsford photo)
Tourism Abbotsford launches ‘Let’s Go Do Something’ campaign

Visitors encouraged to check out all Abbotsford has to offer this summer

Temperature records were broken for June 21, 2021. (Black Press Media file photo)
Record-breaking heat shimmered across Fraser Valley for second day

Tuesday should be a bit cooler says forecast from Environment Canada

Emil Anderson Maintenance is mowing the shoulder along Lougheed Highway in Agassiz, asking motorists to use extra caution around slow-moving vehicles on Tuesday and Wednesday. (Graphic/Emil Anderson Maintenance)
TRAFFIC: Slow-moving mowers working on Highway 7 shoulders in Agassiz on Tuesday, Wednesday

Mowing takes place Tues., Weds. between 8 a.m. and 3:30 p.m.

Artists featured in the BLM Social Justice Art Project at UFV are (clockwise from top left): Michelle Msami, Dona Park, Rain Neeposh and Faria Firoz.
Black Lives Matter art exhibit opens at UFV in Abbotsford

Show features the work of four artists and runs until Sept. 15

The border crossing into the United States is seen during the COVID-19 pandemic in Lacolle, Que. on February 12, 2021. THE CANADIAN PRESS/Paul Chiasson
VIDEO: Border quarantine to soon lift for fully vaccinated Canadians

Eligible travellers must still take multiple COVID-19 tests

Health Minister Adrian Dix announced in December that Surrey’s new hospital will be located in Cloverdale, next to KPU. (File photo: Malin Jordan)
Health minister expects construction of Surrey’s new hospital in Cloverdale to begin in 2023, open in 2027

Adrian Dix spoke Tuesday in a Zoom meeting hosted by the Surrey Board of Trade concerning the new hospital

B.C. Finance Minister Selina Robinson with Premier John Horgan after the budget speech Tuesday, April 20, 2021. THE CANADIAN PRESS/Chad Hipolito
B.C. home owner grant won’t be altered, despite expert advice

Tax break for residences worth up to $1.6 million too popular

B.C. conservation officer Sgt. Todd Hunter said a black bear is believed to have killed local livestock. (THE NEWS/files)
Black bear believed to have killed miniature donkey in Maple Ridge

Trap set for predator that has been killing livestock

Penticton mayor John Vassilaki and Minister of Housing David Eby have been battling over the Victory Church shelter and BC Housing projects in the city. (File photos)
Penticton heads to court over homeless shelter as BC Housing audit begins

The city was not satisfied with the response from Minister David Eby regarding the ongoing situation

People enjoy the sun at Woodbine Beach on June 19, 2018. THE CANADIAN PRESS/ Tijana Martin
BC Hydro assures customers it has ‘more than enough’ power to weather the heatwave

Despite an increase of pressure on the Western grid, blackouts are not expected like in some U.S. states

Air Canada planes sit on the tarmac at Pearson International Airport during the COVID-19 pandemic in Toronto on Wednesday, April 28, 2021. THE CANADIAN PRESS/Nathan Denette
Pilots say no reason to continue quarantines for vaccinated international travellers

Prime minister says Canada still trying to limit number of incoming tourists

When they last met, Giants fell 3-0 to the Prince George Cougars. Both will renew their rivalry in Maple Ridge on Sept. 24. (Allen Douglas/Special to Black Press Media)
Vancouver Giants to play preseason games in Maple Ridge, Delta

Exhibition schedule will start in September

Police closed off 16th Avenue between 232nd and 240th streets in Aldergrove Saturday night at the site of a reported motor vehicle accident. (Dan Ferguson/Langley Advance Times)
VIDEO: Survivors of rollover crash thank Good Samaritans for coming to their aid

Collision flipped vehicle into a 10-foot ditch on 16th Avenue in Langley

Most Read