Larry Yatkowsky at his blog, yattermatters, 16 Jun 2011, kindly releases to us a Greater Vancouver Real Estate Board monthly survey of realtors. “The survey is restricted to members who have made at least one sale in the preceding 30-day period.” It covers 1246 sales over Jan-May 2011. Excerpts (click on tables to enlarge) -
Therefore: More than 80% of buyers are locals.
About 15% of buyers come from outside of the lower mainland (a little more than half of those from outside the country).
One third of buyers are FTBs.
70% of buyers are moving up or laterally (FTBs + similar + move-up).
20% of mortgages are high ratio.
The speculative mania continues to be driven by local buyers, a significant portion of whom are highly leveraged. -vreaa