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

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

A Tla-o-qui-aht First Nation guardian took this photo of dozens of vehicles parked along a forest service road in the Kennedy watershed. (Submitted photo)
Alberni-Clayoquot Regional District looks at enforcement of illegal camping

ACRD currently does not have an existing bylaw service to tackle the issue

Randy Brown, owner of Wintergreen Apartments on Fourth Avenue, has five trailers and a motorhome at the back of his property that he is renting to people who had been previously homeless. He wants to put 15 trailers on his property, hooked up to city sewer and water and BC Hydro. (SUSAN QUINN/ Alberni Valley News)
Building owner digs in heels, refuses to remove illegal trailers from property

Port Alberni council gives owner two-week reprieve on remediation orders

A photo of the excavated area at McLean Mill at the end of the rail line, taken on Dec. 16, 2020. (ELENA RARDON / ALBERNI VALLEY NEWS)
No environmental risk from oil spill at McLean Mill, says consultant

Terrawest Environmental concludes ‘end of spill’ report at national historic site

Melissa Martin from the Rollin Art Centre holds two paintings from the Rollin Art Centre’s permanent collection: an original portrait painted by the late Robert Aller, and a mixed media piece called ‘House’ from Peggy Larson that was part of Aller’s private collection. (SUSAN QUINN/ Alberni Valley News)
Rollin Art Centre puts permanent collection on display

Works from Robert Aller, Arthur Lismer, Norval Morrisseau to be featured

A woman wears a face mask and shield to curb the spread of COVID-19 while walking in North Vancouver, B.C., on Wednesday, January 6, 2020. THE CANADIAN PRESS/Darryl Dyck
536 COVID cases, 7 deaths reported as B.C. finds its first case of South African variant

Henry said 69,746 people have received their first dose of the COVID vaccine.

Police and fire crews at work at a fire scene at Mount Prevost School (Kevin Rothbauer/Citizen)
Classes cancelled by fire at a Duncan-area school for the second time this week

Fire this morning at Duncan area middle school follows Monday blaze at nearby elementary

Nanaimo RCMP seek public assistance after numerous tire slashings between Jan. 12-14. (News Bulletin file)
Police seek public’s help after ‘tire slashing spree’ in central Nanaimo

Ten reports of slashed tires in the last three days, say Nanaimo RCMP

Prime Minister Justin Trudeau listens to a question during a news conference outside Rideau cottage in Ottawa, Friday, January 8, 2021. THE CANADIAN PRESS/Adrian Wyld
Trudeau says Canada’s COVID vaccine plan on track despite Pfizer cutting back deliveries

Canadian officials says it will still likely receive four million doses by the end of March

Cannabis bought in British Columbia (Ashley Wadhwani/Black Press Media)
Is it time to start thinking about greener ways to package cannabis?

Packaging suppliers are still figuring eco-friendly and affordable packaging options that fit the mandates of Cannabis Regulations

Letisha Reimer died Nov. 1, 2016 after being stabbed at Abbotsford Senior Secondary.
No evidence that killer was in ‘psychotic state’ during Abbotsford school stabbing: Crown

Second day of closing arguments at ‘not criminally responsible’ hearing for Gabriel Klein

Seiners fill the waters between Comox and Nanoose Bay during roe herring fishery. file photo, Pacific Wild
Quota debate heats up on the eve of Vancouver Island herring fishery

Industry and conservationists weigh in how much catch should be allowed as DFO decision coming soon

Most Read