
There seems to be a shift in homebuyers moving into Logan Lake’s newest subdivision.
Chief administrative officer Randy Lambright says half of the buyers in Ironstone Ridge were from the Lower Mainland from 2013 to 2018.
But he says last year the majority of buyers were from the Kamloops area.
“They would sell their houses at a nice rate – certainly not at the million-dollar rates of the Lower Mainland – but then they’d come up here and buy a cheaper house and be able to bank some money… and we suspect that’s going to carry into 2020,” Lambright says.
“Part of that came as a result of the changes in the financing, and the stress tests and things of that nature. Plus a bit of a change in the Lower Mainland, where the market shifted a bit down there.”
Lambright says about half of the lots in Ironstone Ridge are now sold. There will be close to 130 homes when it’s done.