“Hi – for what it’s worth, I’m a Canadian citizen who moved to Europe at the age of 15 with his parents and I’m now looking to come back (with wife and child) to YVR. I grew up in West Van and I found the prices incredible when I paid a visit in April 11 – more expensive per square foot than central London!
If Europe’s experience is anything to go by, you *might* see 15%-20% drop (mostly in marginal areas) over the next 18 months followed by a subsequent slow decline of 2-5% per year. But of course, the Canadian economy is in nothing like the same mess as the US/UK, so… maybe not.
Can anyone recommend decent areas without nuts pricing on the North Shore, or am I just being totally ignorant?
With thanks –
- Craig at VREAA 21 Dec 2011 4:18am
We’d recommend many areas, but only after prices collapse. Sometime later this decade; perhaps in a few years time. Prices will end up dropping over 50% by the trough; across the board. No sector will be immune, despite what the various cheerleaders tell you.
And even after the 50%+ drop, Vancouver RE will still be richly priced by both global and Canadian standards. – vreaa