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
1 minute to read
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• Sales volumes increased 44% in May compared to April 2019 according to the Real Estate Board of Greater Vancouver
• During previous market slowdowns property listings averaged 20,000 city-wide, yet despite housing stock having expanded since this time there are currently c.15,000 properties listed
• Luxury prices in areas such as West Vancouver are down 19.7% since their market high in Q3 2016
• The supply shortage may be exacerbated by restrictive zoning as developers find it harder to acquire sites and margins become squeezed by higher land costs
For more information please contact Kevin Skipworth or Kate Everett-Allen