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May 2017

 
 

Vancouver sticker shock sends ripple effects across B.C.

The numbers are stark: while benchmark house prices in the Real Estate Board of Greater Vancouver's area rose 17.8% in 2016 to $897,600, the price of housing sold through the Fraser Valley and Victoria real estate boards increased by more than 20%. Indeed, in the Fraser Valley, long considered the affordable alternative to pricey Vancouver, house prices rose a whopping 27% in 2016 to $628,200, nearly twice the growth logged in 2015.

It isn't hard to see the reason: as 2016 dawned, article after article chronicled the plight of young families who couldn't find affordable housing, let alone adequate child care, pulling up stakes in Vancouver for broader pastures.

 
 

Monthly Local Market Update

The MLS® Home Price Index (HPI) Benchmark Price represent the price of a typical property within each market. The HPI takes into consideration what averages and medians do not - items such as lot size, age, number of rooms, etc. These features become the composite of the ‘typical house' in a given area.

Each month's sales determine the current prices paid for bedrooms, bathrooms, fireplaces, etc. and apply those new values to the ‘typical' house model. Click below to see the April HPI benchmark and other market statistics for your area.

 

Abbotsford

Bowen Island

Burnaby East

Burnaby North

Burnaby South

Cloverdale

Coquitlam

Kelowna

Ladner

Langley

Maple Ridge

Mission

Nanaimo

New Westminster

North Delta

North Surrey

North Vancouver

Parksville

Pitt Meadows

Port Coquitlam

Port Moody

Richmond

South Surrey/
White Rock

Squamish

Sunshine Coast

Surrey - Central

Tsawwassen

Vancouver - East

Vancouver - West

Victoria

Vernon

West Vancouver

Whistler

How to Design the Perfect Patio

That time of year we've been dreaming of is finally upon us: Spring! At the first hint of sunlight, Western Living turned to outdoor design expert Carson Arthur to get his top 5 tips for transforming outdoor space.

1. Make Your Space More Private
2. Find the Right Furniture
3. Keep it Cool
4. Add Some Colour
5. Watch Your Green Footprint

 

B.C. Real Estate News

LOWER MAINLAND

Vancouver homebuilders drowning in red tape: think-tank report (CTV News)

Young families caught up in housing crisis (Richmond News)

More residential developers set their sights on townhomes in Vancouver (BIV)

Vancouver's Foreign Buyer Tax Didn't Stop Real Estate Sales, China Did (Better Dwelling)

VICTORIA & VANCOUVER ISLAND

Victoria city council holds back on foreign buyers tax (CBC News)

Low inventory crimps Greater Victoria real estate market (Times Colonist)

OKANAGAN

Kelowna home prices soaring (BC Local News)

Home sales soar in south Okanagan (Global News)

 
 

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©2017 Macdonald Realty Ltd. 2105 W 38th Ave, Vancouver, B.C. V6M 1R8 | macrealty.com