A surge of buying activity – and nowhere near enough supply – caused condo prices in Metro Vancouver to soar 20.2 per cent year over year in 2017’s fourth quarter.
Combined with a severe lack of available inventory, buyers’ desire to get into the market ahead of the new rules pushed the median price of a Greater Vancouver condo up to $651,885 in Q4 2017. By diluting prospective homeowner’s purchasing power, these regulations will likely place many purchasers into the entry-level market, causing the segment to overheat further.
Aggregate home price in Greater Vancouver will rise by a further 5.2 per cent by the end of 2018, as low inventory levels continue to fail to meet demand for homes in the region. I can help you monetize in this!!