{"id":118,"date":"2016-05-18T17:33:12","date_gmt":"2016-05-18T21:33:12","guid":{"rendered":"http:\/\/www.dinani.ca\/blog\/?p=118"},"modified":"2016-05-18T17:35:24","modified_gmt":"2016-05-18T21:35:24","slug":"metro-vancouver-housing-prices-spike-in-suburbs-with-adil-dinani","status":"publish","type":"post","link":"http:\/\/www.dinani.ca\/blog\/2016\/05\/18\/metro-vancouver-housing-prices-spike-in-suburbs-with-adil-dinani\/","title":{"rendered":"Metro Vancouver &#8216;Housing Prices Spike in Suburbs&#8217; with Adil Dinani"},"content":{"rendered":"<div class=\"wrapper\">\n<div id=\"global-content\" class=\"float-clear js-enabled\">\n<div class=\"article-body float-clear\">\n<div class=\"left-nav\">\n<nav id=\"main-nav\" class=\"main-nav\">\u00a0<\/nav>\n<\/div>\n<div class=\"feature\">\n<div class=\"article-headline\">\n<h1>Metro Vancouver housing prices spike in suburbs<\/h1>\n<h2 class=\"subheadline\">Royal LePage national house price composite shows double-digit growth in housing across the region.<\/h2>\n<\/div>\n<div class=\"article-artwork\">\n<div class=\"parsys mainart\">\n<div class=\"parbase thestarimage section\">\n<div id=\"cq-image-jsp-\/content\/thestar\/news\/vancouver\/2016\/04\/07\/metro-vancouver-housing-prices-spike-in-suburbs\/jcr:content\/mainart\/image\" class=\"thestar-image\">\n<p><img decoding=\"async\" src=\"http:\/\/www.metronews.ca\/content\/dam\/thestar\/uploads\/2016\/4\/7\/house-prices-cp.jpg.size.xxlarge.promo.jpg\" alt=\"A house built in 1930 that was recently listed for sale for $2.398-million is seen in the Point Grey on Friday Jan. 29, 2016.\" \/><\/p>\n<div class=\"caption\">\n<p class=\"credit buyphoto\">THE CANADIAN PRESS\/DARRYL DYCK<\/p>\n<p class=\"description\">A house built in 1930 that was recently listed for sale for $2.398-million is seen in the Point Grey on Friday Jan. 29, 2016.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"article-authors\"><\/div>\n<div class=\"article-authors\"><strong>By:<\/strong>\u00a0<span class=\"credit\"><a href=\"http:\/\/www.metronews.ca\/authors.matt-kieltyka.html\" rel=\"author\">Matt Kieltyka<\/a><\/span>\u00a0<span class=\"staff\">Metro<\/span>\u00a0<span class=\"published-date\">Published on\u00a0\u00a0<span class=\"js-date-time\" data-time=\"1460059393000\" data-format=\"ddd MMM dd yyyy\">Thu Apr 07 2016<\/span><\/span><\/div>\n<div class=\"article-story float-clear\">\n<div class=\"article-story-body\">\n<div class=\"body parsys\">\n<div class=\"text combinedtext parbase section\">\n<p>Metro Vancouver\u2019s real estate market is already off to the races in 2016, according to an annual Royal LePage report.<\/p>\n<\/div>\n<div class=\"text combinedtext parbase section\">\n<p>The realty firm\u2019s national house price composite shows the average price of properties on the market are up 21.6 per cent in the first quarter of 2016, compared to Q1 2015.<\/p>\n<\/div>\n<div class=\"text combinedtext parbase section\">\n<p>In comparison, prices in Toronto are up 9.3 per cent and prices in Montreal are up 3.3 per cent.<\/p>\n<\/div>\n<div class=\"text combinedtext parbase section\">\n<p>Nationally, prices are up 9.2 per cent.<\/p>\n<\/div>\n<div class=\"text combinedtext parbase section\">\n<p>Back in Metro Vancouver, the price of two-storey homes are up 23.6 per cent, bungalows are up 25.7 per cent and condominiums are up 9.5 per cent.<\/p>\n<\/div>\n<div class=\"text combinedtext parbase section\">\n<p>While much of the focus of Vancouver\u2019s affordability issues have been centred within City of Vancouver limits, realtor Adil Dinani said the numbers show house prices in the outlying municipalities are also quickly on the rise.<\/p>\n<\/div>\n<div class=\"text combinedtext parbase section\">\n<p>\u00a0\u201cThe price increases are migrating east for sure,\u201d said Dinani. \u201cPeople want a certain type of house so places like Burnaby and the Tri-Cities are really trending up. We\u2019re seeing people in Vancouver and West Vancouver leaving those cities and moving east.\u201d<\/p>\n<\/div>\n<div class=\"text combinedtext parbase section\">\n<p>Part of that is because listing are down 40 per cent this year, which has contributed to the biggest seller\u2019s market Dinani has experience in his 12 years as a realtor.<\/p>\n<\/div>\n<div class=\"text combinedtext parbase section\">\n<p>Meanwhile, Dinani says the Tri-Cities are in the midst of a housing surge ahead of the Evergreen Line, which will make commuting downtown much easier.<\/p>\n<\/div>\n<div class=\"text combinedtext parbase section\">\n<p>He also says the price increase correlatee with municipalities moving to more pro-active community plans that embrace density and create more walkable neighbourhoods.<\/p>\n<\/div>\n<div class=\"text combinedtext parbase section\">\n<p>As for predicting the future of the region\u2019s red-hot market, Dinani said realtors are in the same boat as everyone else.<\/p>\n<\/div>\n<div class=\"text combinedtext parbase section\">\n<p>\u201cThat\u2019s a crystal ball question,\u201d he said. \u201cIt\u2019s very challenging to predict what is going to happen. No one really has the answer. It\u2019s really difficult for buyers, and as agents.\u201d<\/p>\n<\/div>\n<div class=\"text combinedtext parbase section\">\n<p><b>Housing price increases from Q1 2015 to Q1 2016, by city<\/b><\/p>\n<\/div>\n<div class=\"text combinedtext parbase section\">\n<p><u><b>Burnaby<\/b><\/u><\/p>\n<\/div>\n<div class=\"text combinedtext parbase section\">\n<p>Two-storey: 21.7%<\/p>\n<\/div>\n<div class=\"text combinedtext parbase section\">\n<p>Bungalows: 24.7%<\/p>\n<\/div>\n<div class=\"text combinedtext parbase section\">\n<p>Condos: 2.2%<\/p>\n<\/div>\n<div class=\"text combinedtext parbase section\">\n<p><u><b>Coquitlam<\/b><\/u><\/p>\n<\/div>\n<div class=\"text combinedtext parbase section\">\n<p>Two-storey: 19.8%<\/p>\n<\/div>\n<div class=\"text combinedtext parbase section\">\n<p>Bungalows: 17.9%<\/p>\n<\/div>\n<div class=\"text combinedtext parbase section\">\n<p>Condos: 8.3<\/p>\n<\/div>\n<div class=\"text combinedtext parbase section\">\n<p><u><b>Langley<\/b><\/u><\/p>\n<\/div>\n<div class=\"text combinedtext parbase section\">\n<p>Two-storey: 17.1%<\/p>\n<\/div>\n<div class=\"text combinedtext parbase section\">\n<p>Bungalows: 4.9%<\/p>\n<\/div>\n<div class=\"text combinedtext parbase section\">\n<p>Condos: 1.9%<\/p>\n<\/div>\n<div class=\"text combinedtext parbase section\">\n<p><u><b>North Vancouver<\/b><\/u><\/p>\n<\/div>\n<div class=\"text combinedtext parbase section\">\n<p>Two-storey: 17.8%<\/p>\n<\/div>\n<div class=\"text combinedtext parbase section\">\n<p>Bungalows: 24.3%<\/p>\n<\/div>\n<div class=\"text combinedtext parbase section\">\n<p>Condos: 3%<\/p>\n<\/div>\n<div class=\"text combinedtext parbase section\">\n<p><u><b>Richmond<\/b><\/u><\/p>\n<\/div>\n<div class=\"text combinedtext parbase section\">\n<p>Two-storey: 28.8%<\/p>\n<\/div>\n<div class=\"text combinedtext parbase section\">\n<p>Bungalows: 31.2%<\/p>\n<\/div>\n<div class=\"text combinedtext parbase section\">\n<p>Condos: 14.1%<\/p>\n<\/div>\n<div class=\"text combinedtext parbase section\">\n<p><u><b>Surrey<\/b><\/u><\/p>\n<\/div>\n<div class=\"text combinedtext parbase section\">\n<p>Two-storey: 15.4%<\/p>\n<\/div>\n<div class=\"text combinedtext parbase section\">\n<p>Bungalows: 18.9%<\/p>\n<\/div>\n<div class=\"text combinedtext parbase section\">\n<p>Condos: 4.3%<\/p>\n<\/div>\n<div class=\"text combinedtext parbase section\">\n<p><u><b>Vancouver<\/b><\/u><\/p>\n<\/div>\n<div class=\"text combinedtext parbase section\">\n<p>Two-storey: 30%<\/p>\n<\/div>\n<div class=\"text combinedtext parbase section\">\n<p>Bungalows: 32.9%<\/p>\n<\/div>\n<div class=\"text combinedtext parbase section\">\n<p>Condos: 10.8%<\/p>\n<\/div>\n<div class=\"text combinedtext parbase section\">\n<p><u><b>West Vancouver<\/b><\/u><\/p>\n<\/div>\n<div class=\"text combinedtext parbase section\">\n<p>Two-storey: 19.5%<\/p>\n<\/div>\n<div class=\"text combinedtext parbase section\">\n<p>Bungalows: 22.2%<\/p>\n<\/div>\n<div class=\"text combinedtext parbase section\">\n<p>Condos: 27.1%<\/p>\n<\/div>\n<div class=\"text combinedtext parbase section\">\n<p><b>\u00a0<\/b><\/p>\n<\/div>\n<div class=\"text combinedtext parbase section\">\n<p><b><i>&#8211;<\/i><\/b><i>Source: Royal LePage National House Price Composite<\/i><\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"parsys iparsys articleadditionalcontent\">\n<div class=\"section\">\n<!--[if lt IE 9]><script>document.createElement('audio');<\/script><![endif]-->\n<audio class=\"wp-audio-shortcode\" id=\"audio-118-1\" preload=\"none\" style=\"width: 100%;\" controls=\"controls\"><source type=\"audio\/mpeg\" src=\"http:\/\/www.dinani.ca\/blog\/wp-content\/uploads\/2016\/05\/Adil-Danani-Royal-LePage-2016-Luxury-Property-Report-RadioRealEs.mp3?_=1\" \/><a href=\"http:\/\/www.dinani.ca\/blog\/wp-content\/uploads\/2016\/05\/Adil-Danani-Royal-LePage-2016-Luxury-Property-Report-RadioRealEs.mp3\">http:\/\/www.dinani.ca\/blog\/wp-content\/uploads\/2016\/05\/Adil-Danani-Royal-LePage-2016-Luxury-Property-Report-RadioRealEs.mp3<\/a><\/audio>\n<\/div>\n<div class=\"iparys_inherited\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>\u00a0 Metro Vancouver housing prices spike in suburbs Royal LePage national house price composite shows double-digit growth in housing across the region. THE CANADIAN PRESS\/DARRYL DYCK A house built in &hellip; [<a href=\"http:\/\/www.dinani.ca\/blog\/2016\/05\/18\/metro-vancouver-housing-prices-spike-in-suburbs-with-adil-dinani\/\">read more<\/a>]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[11,10,16,13,15,9],"tags":[],"_links":{"self":[{"href":"http:\/\/www.dinani.ca\/blog\/wp-json\/wp\/v2\/posts\/118"}],"collection":[{"href":"http:\/\/www.dinani.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.dinani.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.dinani.ca\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/www.dinani.ca\/blog\/wp-json\/wp\/v2\/comments?post=118"}],"version-history":[{"count":4,"href":"http:\/\/www.dinani.ca\/blog\/wp-json\/wp\/v2\/posts\/118\/revisions"}],"predecessor-version":[{"id":123,"href":"http:\/\/www.dinani.ca\/blog\/wp-json\/wp\/v2\/posts\/118\/revisions\/123"}],"wp:attachment":[{"href":"http:\/\/www.dinani.ca\/blog\/wp-json\/wp\/v2\/media?parent=118"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.dinani.ca\/blog\/wp-json\/wp\/v2\/categories?post=118"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.dinani.ca\/blog\/wp-json\/wp\/v2\/tags?post=118"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}