Vancouver Property Markets for January 2012

Good Morning All!

Here are the property market comparables and results for Vancouver January 30th 2012:

Vancouver West Detached Market 

• 2010 - active listings 379, sales 102
• 2011 - active listings 402, sales 134
• 2012 - active listings 792, sales 73

Vancouver West Attached Market 

• 2010 - active listings 173, sales 30
• 2011 - active listings 219, sales 36
• 2012 - active listings 241, sales 20

Vancouver West Apartments Market

• 2010 - active listings 1,380, sales 298
• 2011 - active listings 1,362, sales 226
• 2012 - active listings 1,478, sales 171

Vancouver East Detached Market

• 2010 - active listings 445, sales 112
• 2011 - active listings 345, sales 99
• 2012 - active listings 405, sales 82

Vancouver East Attached Market

• 2010 - active listings 108, sales 36
• 2011 - active listings 110, sales 19
• 2012 - active listings 100, sales 12

Vancouver East Apartments Market

• 2010 - active listings 410, sales 90
• 2011 - active listings 327, sales 74
• 2012 - active listings 386, sales 56

Richmond Detached Market

• 2010 - active listings 387, sales 113
• 2011 - active listings 414, sales 162
• 2012 - active listings 831, sales 78

Richmond Attached Market

• 2010 - active listings 192, sales 72
• 2011 - active listings 197, sales 74
• 2012 - active listings 382, sales 45

Richmond Apartment Market

• 2010 - active listings 541, sales 142
• 2011 - active listings 516, sales 124
• 2012 - active listings 719, sales 65

West Vancouver Detached Market

• 2010 - active listings 339, sales 26
• 2011 - active listings 311, sales 46
• 2012 - active listings 378, sales 35

Stay tuned. More statistics coming up!

Future Development and Housing Challenges in our city!

Hello Everyone


As promised here are more insights from the Bob Rennie talk at our Dexter meeting, highlighting issues in our city with property development and challenges we are facing. 


There is now a moratorium on any major developments for at least the next 3 years in the West End, Marpole and Grandview-Woodland areas. Opposition to development has been organising itself in a very effective and sophisticated way in reaction to so many people's concerns about the lack of affordability in the city. Interesting times ahead!


Rentals under $1500 per month are going to see some increases to cope with the rising costs of taxation and strata fees.


80% of our global populations will live in cities in the future, Vancouver being one of them.


2007 saw 3000 new units completed. 2012 will see only 604 new units completed.


One of the main reasons that single family residences in the city have become very expensive is that they cannot be replaced, no more ever being built and are still highly desirable creating a hot market.


Chinese Mainland Buyers supply much of our rental properties as they can afford to put down huge deposits which in turn require smaller mortgages, thus being able to provide market sensitive rental rates.


92% of properties over $2,000,000 on the west side sold to Chinese buyers.


Over 60% of resale buyers are previous home owners. 


So there you have some more of the highlights. It is wonderful to have access to such insights in the city from the real movers and shakers. Stay tuned for more of the same. Have a great week!