I hope you all have something great planned for the weekend, especially indoor activities in the city as the rain looks like it is here to stay. Great time to check out some concerts, festivals, party and just hang out.
As promised, here are some more historical highlights from the Bob Rennie presentation at our company breakfast meeting:
- Average 2010 property prices in Canada up 10%. When you take out Vancouver that was only 4%
- Average 2010 condo sale price was $432,000. Take out the top 20% most expensive market and that amounts to $313,000.
- Average top 20% was $909,000 with the most expensive being 17 million. No surprise when the overall average prices include the top 20% that we all get blinded by the "Vancouver is the most expensive city in the world" myth. Try New York, Sydney, London, Paris for size!!
- Average Greater Vancouver house prices $831,000. Take out the top 20% at $1.7 million and that dropped to $630,000.
- Out of 24,500 condo sales in 2010, only 159 were tax assessed as living outside the country.
- Out of 24,500 houses sold, only 21 were tax assessed as living outside the country.
By 2026 Vancouver city will need approximately 53,000 new homes to provide for the increasing influx of immigrants choosing to make this their home and bring all their skills, education and expertise to benefit the economy.
The Vancouver Mainland is on the move with immigration increasing supporting so much potential to be a leader in business, opportunity and development. It is all about getting the balance right, responsible and intelligent planning, creating an environment to attract business to set up here, providing affordable housing and so much more.
The gauntlet has been thrown down, its crucial and the time is now!
Stay tuned in for more updates, history, trends and whatever else you may find interesting.
Have a great weekend.
