University Village sometimes referred to as University District, is a fantastic place to purchase a home. Much of the area is slightly older in terms of residential real estate but this community is truly in the heart of it all. The community sits in the hills surrounding the Vancouver Island University. As such, many of the homes here are rentals, allowing students to live in them throughout the school year. However, the area still offers fantastic real estate opportunities for those looking for single family homes. Its location, affordability, and trendy neighbourhood make it a desirable choice for many.
This name is a rather new one for the region. It is a distinct area located in the neighbourhood of Harwood nearest to the university. In fact, many of the locals still call this area Harwood because of its long history. The area of the school and surrounding communities has been developed since the late 1700's. Over time, it has become the centre for life in the region especially in terms of education. However, this modern and trendy community still has a lot to offer those looking for natural beauty and amenities.
There are some busy commercial areas in the city, especially around Bruce and Fifth Street. However, most of the other areas are quiet and more accommodating to relaxed living. You will find some urban-style pubs and restaurants in this community, but it is also very close to other areas with many additional amenities.
A few key things help this area to truly stand out in terms of real estate. University Village has homes from many timeframes. You will find new homes, especially in the area surrounding the school. You will also find older homes that have a great deal of character. Most are single-family homes. New developments and growth within this community is helping to drive home prices up. From October of 2014 through October of 2015, home values have grown by as much as 8.2%. Nevertheless, it is one of the more affordable communities in the Nanaimo area.
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