Huge thanks to Kerry Gold, Real Estate Writer for the Globe and Mail, for another excellent piece on the Vancouver Real Estate Market with comment by Matt Scalena (and a mention of VREP!).
A few interesting take-aways:
- We have been talking about the increasingly narrow gap between attached and detached properties in Vancouver for quite some time. Considering how large the gap has been in recent years, people would often settle for a condo or a townhome because a detached house was unreachable. Now, if you consider the revenue from a basement suite, it may actually be cheaper to buy a detached house in some markets! We have argued that smart money is targeting detached.
- “Micro-markets in Vancouver vary widely.” Again, like we have said in the past, we cannot look at the Vancouver Real Estate Market as a whole. We must look at each sub-area and price band to determine sales volume and activity.
HOW DOES VANCOUVER COMPARE TO SYDNEY, AUSTRALIA? FIND OUT HERE!
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