Vancouver property prices up 14 per cent since Nov. 2016, real estate board says

Vancouver property prices up 14 per cent since Nov. 2016, real estate board says

Vancouver’s real estate board says the average property price in Metro Vancouver last month rose 14 per cent from November 2016, with condominiums and attached properties making the biggest gains.

The Real Estate Board of Greater Vancouver says the composite benchmark price for a property rose to $1,046,900 last month — up 0.4 per cent compared to October.

The board says condominiums saw the biggest jump in prices at $648,200. That’s up 23.9 per cent since last November and one per cent compared to October.

The benchmark price for attached properties rose 17.9 per cent since November 2016 and 0.3 per cent since October to $805,200.

The price for detached properties was $1,608,000, rising 6.1 per cent year-over-year, but falling 0.1 per cent since October.

President Jill Oudil says in a statement that there’s steady demand in the market, with homebuyer activity operating above the board’s long-term averages, especially in the condo and town house markets.

The Canadian Press

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