New ranking examines relative value and price-growth potential – and the results may surprise you
Vancouver’s West End has been named the best place in the city to buy either a condo or a townhome, in a new report by real estate website Zolo.
The rankings were the result of extensive study of all of Greater Vancouver’s neighbourhoods, through which Zolo created a value score for each area based on a series of factors. These included: relative value of an average home compared with surrounding areas and the overall municipality; price appreciation over the past five years; potential for future growth; and the economic strength of the area combined with WalkScores and Transit scores.
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Romana King, Zolo’s director of content, said on BTVancouver, “The West End is going to surprise people. It’s right downtown, it’s expensive… Yes, but when we’re looking at value, we’re looking at relative value. It has the same access to parks, amenities, transit as Coal Harbour just across Georgia Street, [but is much less expensive].”
The West End was named the hottest area in the city, but it wasn’t Greater Vancouver’s overall winner, ranking second out of the entire region in both condos and townhomes. East Coquitlam was named the region’s top area to buy a condo, and Mary Hill in Port Coqutilam was placed highest for townhouses. (Full Greater Vancouver rankings here.)