You probably won’t see these existing residential waterfront properties on the market. According to MyLandcor, the last sale of residential waterfront property was in May 1996. The 2006 assessment data shows that the assessment value of these properties start at $117,000 and can go as high as $449,000. These properties will only climb in value as the sizzling real estate market in Prince Rupert continues to heat up.

So, where do you find residential waterfront in the Prince Rupert area?
 

Islands Surrounding Prince Rupert

If you take a closer look at a map of the Prince Rupert area, you’ll note the area contains many several other islands.  This area includes Hunts Island, Porcher Island, the community of Oona River on Porcher Island, and the community of Dodge Cove on Digby Island. You’ll find more residential waterfront here. While properties on these islands can be expensive, there are still some deals here.

The tiny community of Oona River’s assessments has remained fairly consistent. According to MyLandcor, the mean assessment has hovered between $29,000 to $30,000 over the past five years. Not many properties come up for sale in this small knit community, and  none are currently listed. Those that have sold have been well over assessed value, with the last recorded sale in May of 2005 of $100,000 for a property valuated at $53,000.

Porcher and Hunts Island are popular recreational getaways in this area. Current listings in this area can range between $149,000 for a 124 acre property (NIHO’s Dries Inlet) to $695,000 for a 134 acre property (NIHO’s Goble Point). However most properties on these islands are considerably smaller than these trophy properties, and therefore possibly cheaper. MyLandcor shows that the mean assessments for waterfront in this property have risen from a mean of $28,352 in 2001 to $30,579 in 2006, an increase of about 7%.
 

Dodge Cove on Digby Island is found right across from the city of Prince Rupert, and the values of the mean assessments reflect the proximity to this hot market. Figures obtained from MyLandcor show that the mean assessment rose from a mean of $71,676 in 2001 to a mean of $75,992 in 2006, an increase of about 6%.  Like Oona River, Dodge Cove is a fairly small community, and only a few properties come onto the market (none are currently listed on MLS). However, the last recorded sale of property in this area was a .8 acre property which sold for $180,000 in June 2004.  

 Owners of these waterfront properties are almost exclusively local, in Prince Rupert and Terrace. Other owners of property in this region are in Vancouver, Victoria, and Seattle.

Rural Prince Rupert

If you are looking for lakefront or riverfront, another option would be in the rural Prince Rupert area, which encompasses the mainland between Prince Rupert and Terrace. While you may not be greeted by the majestic Pacific Ocean, you’ll have the options of the mighty Skeena River and its tributaries or a number of calm freshwater lakes in the area.

MyLandcor shows an increase in assessment values over the last 5 years, from an average of $25,285 in 2001 to an average of $27,144, or about 7%. While there are about 116 waterfront properties in this area, the turnover of properties is very low, with about 12 sales over the last five years.

 However, as the market in Prince Rupert continues to sizzle, interest may increase in this spectacular region. In 2005, a 18 acre property assessed at $23,600 sold for $120,000, while a 4 acre property assessed at $68,800 sold for $231,000. This market is picking up steam.

While most owners of property in this area tend to be local, residing in Prince Rupert or Terrace, purchasers are beginning to come in from outside Northern BC. Other regions with owners in this area include the Lower Mainland, Calgary, Washington State, California, Arizona, and Hawaii.