Vancouver Market Still Strong
Year after year, Vancouver continues to post average to above-average increases in property values. A two-storey home is already nearing $650,000 — 35% above the average price of a comparable home in Toronto and almost twice as expensive as the national average this year. That’s good if you already own a rental property, but not so good if you’re looking to enter the market as either a landlord or a homeowner. Still, Vancouver continues to be a strong seller’s market, with solid employment growth last year backing it up. RBC is predicting a 7% gain in home prices this year.
Source: Canadadian Business Online.