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Hornby Island's Realty Magazine

Denman Island Realty Trends

With so much environmental and social diversity on Denman Island, it is no wonder that identifying trends in the local real estate market can be difficult—buyers are from all walks of life and each type of available property (family homes, lots, investments) is in demand. However, if you dig deeper than the initial sales reports, several trends reveal themselves, providing meaningful information that can be very helpful to potential buyers. A recent study pointed to several trends that have impacted our real estate market on Denman Island, including the instability of the stock markets, a shift in the types of people who are relocating here, and increased demand for Gulf Island property.

Sound investments

The dismal performance of the stock markets in recent years has resulted in praise for the relative stability of real estate investing. Now more than ever, people are putting their money into waterfront, recreational and revenue properties, where the promise of financial returns is highly regarded. The weak markets in conjunction with low interest rates contributed to a staggering 25% increase in B.C. residential real estate sales in 2002!

In addition, raw or logged parcels of land on Denman Island are attracting the interest of those who wish to invest in their own future or that of their families. Land trusting provides a secure investment as well as the rare opportunity to obtain highly coveted and reasonably priced property on one of B.C.’s most beautiful Gulf Islands.

The times they are a-changing

Over time, our community on Denman Island has changed considerably, shaped by the ever-shifting tapestry of modern society and technology. In its earliest days, Denman Island was populated by Native American Indians, Japanese settlers and Canadian pioneers. Descendants of the island’s earliest communities still live here, alongside the "back-to-the-landers" who arrived in the 60s and 70s, professionals who discovered Denman in the 80s and 90s and the newest wave of "Denman immigrants": retired, self-employed and telecommuting people.

With its limited employment opportunities, Denman Island is perfectly suited for retired folk looking for a quiet place to settle down, self-employed people who relish in being able to conduct business outside an urban centre, those wanting summer and winter holiday cottages and telecommuters who work from their home offices, connected to their colleagues via email and the Internet. However, with the beautiful Comox Valley just 20 minutes up the road, many Denman Islanders also make the short commute to town and work in Courtenay or Comox.

In addition to identifying retirees, telecommuters and the self-employed, an analysis of real estate sales in 2002 also shows that there is a growing trend of residents from outside British Columbia purchasing property on Denman. In particular, Albertans, Americans and people from Ontario show an affinity for Denman's beauty. These buyers come from all walks of life and are purchasing their dream property here on Denman Island.

Denman in demand

Due to the incredible value of B.C. land, as well as the lower performance of the stock markets, we are seeing some intense demand for Denman Island real estate this year. Some properties have sold recently without the buyers ever having viewed them in person! It would seem that the "undiscovered" Gulf Island has indeed been revealed!

While Denman Island has several different types of real estate for sale (family homes, lots, investments), it is possible to identify several trends in the real estate market here: growth in real estate investing and land trusting, demographic shifts in buyers, and increased demand for Gulf Island property. These trends paved the road to so much success in 2002, and all indicators point to another strong year for Denman Island real estate sales in 2003 and into 2004.