Langstaff Gateway Condos floor plan. House prices in Vancouver hit a new high! Over the past month, talk of a “subprime crisis” has made people worried about the Canadian housing market.Please Visit: Langstaff Gateway Condos floor plan to Get Your VVIP Registration Today!
However, the latest figures show that Vancouver real estate prices hit another record high last month, with all kinds of home prices breaking through record highs.
The benchmark price of apartments in the region was C $571300, up 17.8% from a year earlier, up 3.1% from a month earlier; the benchmark price of a multi-family house rose 13.1% from a year earlier, up 1.9% from a month earlier to C $715400; and the benchmark price of a single-family house rose 3.1% from a year earlier, a month-on-month increase of 2.9% to C $1561000.
As shown in the figure below, the blue line represents the price trend of single-family houses, which have broken through last year’s highs; the prices of multi-family houses represented by the red line and apartments represented by the green line are both at record highs.
In August last year, British Columbia imposed a 15% transfer tax on overseas buyers in an effort to cool the housing market. Since then, Vancouver property prices have fallen, when the market thought that the Vancouver real estate market was beginning to normalize and turned its attention to Toronto, where prices are also booming, but recent data show that the Vancouver real estate market has begun another strong rebound.