Average house price in Greater Vancouver nearing $1-million mark
Different Headline from the one Joe posted yesterday... similar story, but this one is more focused on the Greater Vancouver Area.
Couple of Quotes:
QUOTE At an asking price of $889,000, the Second World War bungalow in the 3100-block West 10th Avenue in Vancouver seemed like a bargain to realtor Terry Flahiff yesterday.
With the average price of a detached home in Greater Vancouver nearing $921,000 last month, Flahiff`s listing could be considered a bargain.
QUOTE Helmut Pastrick, chief economist with Credit Union Central of B.C., said it won`t be long before the region`s average house price breaks the million-dollar mark.
"At some point, we are going to see that $921,000 break $1 million -- it won`t be that far off."
Andrew Ramlo of the Urban Futures Institute predicts the $1-million average price will continue to push people out of Vancouver and into multifamily developments.
Click here to read full story
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Any wonder why some people in the Lowermainland are moving down the Valley or further out into the areas of Maple Ridge and Pitt Meadows. Once the Gateway project kicks into full gear, will impact those areas that we identified in our
BC transportation report, if you have not read this report click here
This report has been updated for 2008