‘It’s a steal of a deal’: Soaring house prices on Vancouver Island send buyers to Port Alberni

The real estate boom is sending waves of people to Port Alberni, as it’s the most affordable of all centres on Vancouver Island. Home sales in Alberni and the West Coast rose over 300 per cent compared to a year ago.

When Heather Welsh and her husband moved from the U.K. to Port Alberni five years ago, it was a city still recovering from mill closures and forestry cuts.

However, they saw its potential and opened Alberni Brewing Company one month ago, counting on their gamble paying off.

“Getting the support of the locals has been, overwhelming. We’re so grateful in regards to when the business opened,” said Heather Welsh, Owner of Alberni Brewing Co.

The family is part of a growing wave of new arrivals to Port Alberni, and longtime resident Martin Watts said he understands why.

“It’s a steal of a deal. You look around here, the mountains, lakes,” said Martin Watts, who has lived in Port Alberni for 55 years.

New stats by the Vancouver Island Real Estate Board (VIREB) show the community that’s historically been the most affordable on Vancouver Island, is now hot property. Its benchmark price of $417,000 is hundreds of thousands less than other Island cities and people are seizing the opportunity.

Read full article at Checknews.ca