Anshu Arora LLM, MSc, PMP

Cell 604-828-7331 | info@anshuarora.com

Prices Going Up! Market is Doing Great!!

A new report on Metro Vancouver’s housing market confirms that a severe lack of supply in new housing stock has a significant role in the region’s great prices. According to the Urban Development Institute’s latest update, there are currently zero new townhomes or concrete condominiums that are either completed or move-in ready within the Lower Mainland.

 

Beyond the city’s borders, the rest of the Metro region only fares marginally better as only 50 units were ready for occupancy at the end June 2017. This represents a drop of 59% from the same period last year and 95% in the same period in 2015.

 

The average rental vacancy region-wide is still less than 1%, with the city of Vancouver leading the pack with an exceeding low vacancy rate of just 0.45%.

 

I can Help you Navigate thorugh our Robust market!

The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.