After 2011, the census statistics show that about 17,000 people that lived in Vancouver and surrounding areas moved to Surrey. After speaking to Cameron Muir, the Chief Economist of the British Columbia Real Estate Board mentioned he mentioned that the overall, sales activity has stabilized in Surrey and an average price for a townhouse is $350,000. “An apartment is affordable for first-time buyers and are priced between $235,000 – $240,000.”
Whether you are searching for a new house to buy or rent, here are the top areas to invest in and why:
What you can expect in Squamish is a high growth of income that has improved in the past five years. The houses are affordable, and it is close to Whistler and Vancouver Island.
Fort St. John
There has been a decrease in the number of houses sold in Fort St. John and according to Energetic City in 2016 about 303 properties were sold for $114.5 million in the area. In contrast, the price of 578 properties in Fort St. John was $210.1 million during the fall of 2015. It means that you can negotiate better deals because the market is not as strong as it used to be.
The assessed home values in Dawson Creek’s are consistent since the years of hot real estate market growth. Dawson Creek’s property values were consistent after years of growth with an increase of 0.38 percent to $261,000.
In a recent Royal Lepage Report, there are a high number of home buyers that are flocking to Langley because the city offers affordable housing and the competition over property listings is starting to heat up.
During an interview with Doug Clifford, a real estate agent at Hugh & McKinnon realty he stated, “one of the challenges with the condo market is it is becoming more competitive.”He mentioned that millennials should take their time buying a property until they are financially prepared to invest.