The Fraser Valley is a most beautiful part of Canada, a vast region in B.C. filled with stunning vistas, local shops and farms, and an abundance of nature. While a tourist destination, the area is also attracting those seeking to settle down, particularly as families desire more space and working from home is available to an increasing number of individuals.
The latest addy property is located in Mission, B.C., a growing town in the south part of Fraser Valley, about 70 km east of Vancouver. There’s plenty to love about Mission and the Fraser Valley; here’s what makes the area so special.
What is the Fraser Valley?
The Fraser Valley is a region in mainland B.C. that touches metro Vancouver on the west, the U.S. border on the south, and past Boston bar to the north, with the Fraser River running throughout the area as it heads down from the north out to the ocean. It comprises numerous towns, including Abbotsford, Chilliwack, Harrison Hot Springs, Hope, Kent, Mission and Yale. In all, it’s about 13,000 square kilometers in size.
The Valley is home to the traditional territories of the mainland Halq’eméylem-speaking people for the past 10,000 years. First Nations communities in the region include Aitchelitz, Boston Bar, Chawathil, Cheam, Kwantlen, Kwaw-kwaw-Apilt, Leq’a:mel, Matsqui, Peters, Popum, Scowlitz, Seabird Island, Shxw’ow’hamel, Skawahlook, Skwah, Soowahlie, Spuzzum, Squiala, Sts’ailes, Shxwha:y, Sumas, Tzeachten, Yakweakwioose and Yale.
What to do in Fraser Valley
The region welcomes people year round for all sorts of outdoor activities, from fishing to hiking, skiing to snowboarding, and even golfing and fruit picking. Fraser Valley is home to numerous farms, as agriculture and forestry form the heart of the region’s economy. One notable farm, Kensington Prairie, welcomes visitors to learn about and interact with alpacas. There are plenty of breweries, wineries, distilleries and cideries for visitors and residents to enjoy a refreshing libation in the region as well. Meanwhile, bakeries, cafes and artisanal cheese shops make up some of the places to grab a bite to eat.
Fraser Valley real estate
Like so many parts of Canada, the real estate market in Fraser Valley is on the rise, with demand and prices increasing significantly over the last couple years. Property sales in 2021 were the biggest in the Fraser Valley Real Estate Board (FVREB)100-year history! The FVREB processed 27,692 sales in 2021, an increase of 39.0 per cent compared to 19,926 sales in 2020.
Sales of detached homes soared by 31.8 per cent in 2021 compared to 2020; townhome sales increased by 33.7 percent and sales of apartments increased by 68.9 percent. In January 2022, the benchmark price for a single family detached was set at $1,569,300, while townhouses were set at $796,500 and apartments saw a benchmark of $574,300.
Notably, the population in Mission is steadily increasing. It’s one of the fastest-growing cities in Western Canada with an average annual growth rate of 2.2% over the past five years, compared to the provincial average of 1.8%. Its proximity to both beautiful nature escapes and the city of Vancouver puts it in an ideal spot for those operating in hybrid or work-from-home situations seeking to balance their professional and personal lives. Still, there are not enough rental units in the Mission real estate market. The high demand is due in part to a low unemployment rate, growth in Vancouver’s tech sector and international and inter-provincial movement. In May 2020, the city of Mission set the rental vacancy rate 1.6% and described rental health as “constrained.”
addy in Mission
Last summer, addy members had the chance to invest in a purpose-driven residential building development in Mission. The six-storey building plans to feature 106 units, including 11 affordable housing units. That plan is still in place, but there is a new opportunity for investment.
In the last six months, the development has begun and the project has seen its risk decrease. addy is offering another investment opportunity, this time across 12 years instead of the five years planned for the first issuance.
Mission’s growth paired with the beauty and allure of the Fraser Valley make this property a compelling opportunity. With investments starting as low as $1, it’s easy to join the crowdfunding real estate experience with addy.