MarketBrief

The Best Places to Invest – 5 Year Update

With perfect hindsight these were the best performing neighborhoods.

According to Snap Stats (a statistical analytical service to which we subscribe to, which takes MLS sales data to a whole other level), here are some interesting facts on the trend of sale prices in the following selected areas:

According to these stats, the best place to buy a home in 2010 was the Vancouver Westside. Check out this example in the Quilchena area:

This home was purchased in 2001 for 768,500, was listed last week for 3,688,000 and sold for 4,100,000. That’s one great investment! The house did not have any major upgrades.

Although North Vancouver property owners did not see quite the same increase. They fared the best turn around in a 12 month period. Example this Canyon Heights home a tiny 3,960 sq. ft property purchased for 850,000 and recently sold for $1,168,500.

We do have to be careful about thinking about these number too rigidly however. Canyon Heights and Quilchena have been star performers. Each of the areas also contain neighbourhoods which have not enjoyed the same upswing in prices. These areas offer particularly good value to a family looking for a good home, but not attempting to cash in in the short run.

Again, according to Snap Stats, the following neighbourhoods did poorly. There were worst performers than these (Lions Bay, Indian River, Cypress) but the number of sales in these area are fewer and so getting an accurate read is difficult).

Where are we now?

We are off to an excellent start for 2015. The number of listings are on the low side – as you will see from the graphs below and the number of sales are up. Factors contributing to a strong market this year are:

  1. Low interest rates
  2. Low inventory, high demand
  3. Lower Canadian dollar – making Vancouver look even more attractive to foreign buyers (who have had a big role in shaping our market over the past 3 years and continue to do so)

If you want further details or wish to have a copy of the latest “Snap Stats” just send us an e-mail and we will share the report with you.

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