The beauty and serene quality of Downtown Nanaimo, or the Old City Quarter, makes it one of the more desirable locations to call home for those buying real estate in the area. In essence, it is one of the oldest portions of Nanaimo and this is very much evident by the architecture of the buildings here. However, there are more modernised components of the city including in the downtown district. Because of its desirable location on Vancouver Island, Downtown Nanaimo's home values are growing and demand for the area remains significant.
The city settled in around 1880 is one of the oldest neighbourhoods in the region. It is also one of the most charming and quaint. What makes it so unique is the mixture of old homes with beautiful architecture alongside modern properties with condos overlooking the water. The area's history has a focus on port access, timber, and other industries, but today it is much more of a modern, urban area.
A few key things make this neighbourhood so desirable. It is a walkable city. That is, it is easy to walk through the downtown area to area pubs and restaurants rather than having to drive there. There is also a strong cultural component to the city. Port Theatre, Bastion, which is the oldest structure like it in North America, and the Port Place Mall are all easily reachable here.
Home buyers will find a wide range of properties to select from in Downtown Nanaimo. Along the outskirts of the downtown area are many homes that date to the 1940's and 1950's. These are classic single family homes. Along the waterfront, numerous new properties are seen. Some offer waterfront access and views of the water. Most are condos, but high-value, beautiful properties very much in demand. For those wanting a bit more character and charm, some homes along Cameron Island and Pacifica provide an impressive view of the coast.
In terms of home pricing, Downtown Nanaimo remains one of the more valued areas. Home values have grown by about 3% over the last year (October 2014 to October 2015).
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