_Is the Vancouver market primed for a comeback?

Since 2016, we have been reporting on Vancouver’s slide down our prime city rankings but new data suggests the tide may be turning

Kate Everett-Allen June 13, 2019

New data from the Real Estate Board of Greater Vancouver confirms that sales volumes increased 44% in May compared to April 2019.

According to Kevin Skipworth, Managing Director at our partners, Dexter Realty in Vancouver, "During previous market slowdowns property listings averaged 20,000 city-wide, yet despite housing stock having expanded since this time there are currently around 15,000 properties listed."

Kevin continues: "The supply shortage may be exacerbated further by restrictive zoning policies as developers find it harder to acquire sites and margins become squeezed by higher land costs."

Luxury prices in areas such as West Vancouver are down 19.7% since their market high in Q3 2016.

Download our Prime Global Cities Index which tracks the performance of prime prices across 45 cities including Vancouver, read Kevin Skipworth's blog in full or for more information please contact Kevin Skipworth or Kate Everett-Allen