April 2011 RSS Feed

Found 2 blog entries for April 2011.

Condo in Lower Lonsdale, North Vancouver, BCFirst-time buyers contribute to strong upward momentum in residential housing markets across the country. This demographic typically accounts for 40-60% of the homes purchased in any given real estate market. However, recent changes to financing criteria that came into effect in March, didn’t really create the anticipated frenzy in activity. Most rookie home buyers remain practical and are buying within their means – the message is getting across while having a negligible effect on demand.

During the first two months of this year, there were 5000 homes sold in Vancouver, and over 45% of those homes were condos priced under $500,000, clearly indicating continued strength in the first-time home buyer market and this trend hasn’t declined in the midst of…

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kerrisdale_home Vancouver is in the midst of a strong spring in real estate as home buyers continue to enter the housing market at near record levels. There have been 4,080 sales in March, 2011 which represents a 31.7% increase compared to February, 2011 and an increase of 30.1% compared to March, 2010. The all-time sales record for March was in 2004 when 4,371 real estate transactions occurred.

So, what's driving the high-end real estate market in Vancouver? Investment class immigrants from Mainland China looking to move here in the next 2-3 years. They are required to have a Canadian investment of at least 800K and need to show a net worth of 1.6 million dollars. With good schools and safe neighbourhoods these buyers are mainly focused on Westside homes.


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