Hello all. My wife & I were very close to setting up a move to Vancouver Island a few years ago but it went by the wayside. We are now thinking of purchasing land on either Vanc. Island or the sunshine coast and sitting on it for 5/6/7 years and then moving out to build.


I have read on other threads that Canada isn't suffering as much as the UK with the 'Credit Crunch'. But surely higher prices worldwide will cause inflation in Canada as well. And someone wrote that house prices in Campbell River & Comox are coming down.

My questions are:
1)Are we allowed to purchase Land in Canada and just pay taxes on it from the UK?
2)Will land(preferably waterfront)come down in price in the near future if house prices do?
Thanks.

.

Cheers RICH.
When you say land is scarce I didn't think this was the case in B.C., even waterfront. I guess I've missed the boat on that one.

But what about further inland with good ocean views?

Land's not necessarily scarce per se, but land that's zoned for building on, and with waterfront, that's a sensible distance from civilization and won't cost you both arms and legs is relatively scarce.

In the UK alot of our 'good' building land has been taken up by the large developers. But this situation is starting to change as they don't want the land because houses aren't selling. Could this be a future scenario in Canada?(crystal balls at the ready please).

Maybe, maybe not.

In BC, at least, the housing and construction market isn't suffering anywhere like the UK is right now, in fact many places are still seeing moderate house inflation.

Yeah RICH,that's what I've been reading on other posts. But I still reckon it's a matter of time before B.C. even feels the pinch(God forbid, I'm not wishing it on any B.C. residents for my benefit!). I'm trying the old anticipation game but I've always been useless at it(Canada breathes a sigh of relief).

I am the someone you are referring to! There is a lot of housing stock on the market here and fewer buyers, so prices are being cut by the people who really need to sell. On the other hand there is a lot of new houses still being built here, so someone is optimistic. I'm sure the pendulum will swing back in time and buyers will reappear. I'ts a good time to buy in CR though as the mill has just closed which put people out of work, and some are off to make their bucks in Alberta. There are quite a few waterfront properties on the market and lots, and the views are amazing.

That's right ellsie, it was your post I saw. When we done a reccy, a few years ago, we only got 'Up' Island(I hope I got that correct)as far as Comox and were unsure of CR's climate. But having researched a little more it seems yours is better than the North of England(where we're from) so when we next come out we'll be up your way.
I've been on MLS & other sites, but as I found out last time you only get a true picture when you talk to people from the area.

I spent many childhood summers on Crimdon beach in NE England, and I can assure you that the summers here beat that hands down. Our weather is wet winters and gorgeous summers. Here you have a ton of scenery from many spots in town of the mountains behind us or the view across to Quadra, and many homes have fantastic views.
There is less shopping in this town and most people will go to Nanaimo for serious shopping, but there is plenty to compensate. Come and take a look
You can purchase property here before you land. We already did that too.

Food for thought Ellsie. Last time we were there it was end of April/start of May and although it got out wonderful are your springs not normally wet?
Also you've got the Johnstone Straits nearby-we adore the Orcas.
Just one downside for us. We love our sunsets where we live, we can't appreciate sunrises with a glass of wine you see

Our springs have been late for 2 years and normally start in May.
In CR if you have the right spot you can watch the sunrise over the sea and set over the mountains. www.campbellriverbc.net

CR on our list then . But we're also interested in Sooke/Powell River/Sechelt/Gibsons/Squamish. So much research, so little time.
Thanks again.