Home
West vancouver sees huge increase in home sale in 2015
It seems like it is going to be a good year for real estate in Vancouver. Experts suggest the price index is likely to expand in this year by 5 percent, similar to its increase in 2014. Buying confidence is still high, partly due to the recent dip in interest rates. West Vancouver sees huge increase huge increase in home sales in 2015, primarily due to the fact that offshore buyers will be able to afford the high price tags associated with many of the properties available in the area.
The demand for real estate properties in West Vancouver remains steady, even though there are fewer homes for sale. This phenomenon has lead to increased competition among buyers. There was a 14.2 percent decline, compared to January 2014, in the total number of properties currently listed on the REBGV MLS. In addition, the prices of homes have gone up by 5.5 percent, in comparison with January 2014.
A major part of the money flowing http://www.hendersoncountychamber.com/british-columbia-business-connection-for-real-estate-enterprises/ into Vancouver real estate will be coming from Chinese buyers, reports Cory Raven, who is the manager broker at RE/MAX Select Realty in Vancouver. Many realtors say that business is done differently in China, and the folks there can always find ways to get their money out. Demand from these Chinese buyers will mostly affect the West Vancouver area. The market seems to be booming with no end in sight.
In January, the Real Estate Board of Greater Vancouver reported that almost 2,000 properties changed hands, which was an increase of 8.7 percent over January, 2014. In addition, the sales volume was 14.9 percent above the 10-year average. Besides these fantastic numbers, a paper that was released by the Canada Mortgage and Housing Corporation forecasted the new home constructions of 18,700 in 2015. Sharp economic growth and dropping interest rates are factors that have played a role into these expansions.
Over the past decade, more people have decided to rent apartments, instead of buying homes. Although the perks of renting, such as freedom from having to make repairs, are enticing, many people still dream of owning their own home. It all comes down to whether you are interested in paying up to $2,000 to rent a 1-bedroom apartment in Vancouver or if you are willing to pay a mortgage on a home that will cost over $400,000.
While it seems like realtors in West Vancouver should find the numbers so far in 2015 to be promising, some may wonder what the future will bring. There are some that doubt the market will continue to flourish, while others are confident it will expand even further. It depends greatly on the amount of money that will continue to come in from overseas, from countries such as China and the United States, among others.
It seems like it is going to be a good year for real estate in Vancouver. Experts suggest the price index is likely to expand in this year by 5 percent, similar to its increase in 2014. Buying confidence is still high, partly due to the recent dip in interest rates. West Vancouver sees huge increase huge increase in home sales in 2015, primarily due to the fact that offshore buyers will be able to afford the high price tags associated with many of the properties available in the area.
The demand for real estate properties in West Vancouver remains steady, even though there are fewer homes for sale. This phenomenon has lead to increased competition among buyers. There was a 14.2 percent decline, compared to January 2014, in the total number of properties currently listed on the REBGV MLS. In addition, the prices of homes have gone up by 5.5 percent, in comparison with January 2014.
A major part of the money flowing http://www.hendersoncountychamber.com/british-columbia-business-connection-for-real-estate-enterprises/ into Vancouver real estate will be coming from Chinese buyers, reports Cory Raven, who is the manager broker at RE/MAX Select Realty in Vancouver. Many realtors say that business is done differently in China, and the folks there can always find ways to get their money out. Demand from these Chinese buyers will mostly affect the West Vancouver area. The market seems to be booming with no end in sight.
In January, the Real Estate Board of Greater Vancouver reported that almost 2,000 properties changed hands, which was an increase of 8.7 percent over January, 2014. In addition, the sales volume was 14.9 percent above the 10-year average. Besides these fantastic numbers, a paper that was released by the Canada Mortgage and Housing Corporation forecasted the new home constructions of 18,700 in 2015. Sharp economic growth and dropping interest rates are factors that have played a role into these expansions.
Over the past decade, more people have decided to rent apartments, instead of buying homes. Although the perks of renting, such as freedom from having to make repairs, are enticing, many people still dream of owning their own home. It all comes down to whether you are interested in paying up to $2,000 to rent a 1-bedroom apartment in Vancouver or if you are willing to pay a mortgage on a home that will cost over $400,000.
While it seems like realtors in West Vancouver should find the numbers so far in 2015 to be promising, some may wonder what the future will bring. There are some that doubt the market will continue to flourish, while others are confident it will expand even further. It depends greatly on the amount of money that will continue to come in from overseas, from countries such as China and the United States, among others.