Think outside the trendy zones for homes you can afford
MARIA COOTAUCO
Province
Richmond is the hottest place to buy attached homes like these townhouses.
Mount Pleasant homes like these offer short commutes, but at lower prices than you can find in Kits and Yaletown.
Grandview Woodland, Mount Pleasant, Kitsilano, Yaletown and Coal Harbour are no longer the only words to set a real estate maven’s heart aflutter.
There’s life outside of the West End too, and these other areas are fast becoming hot spots for market activity.
Affordability is ruling the market right now, according to realtor Marty Pospischil of Dexter Realty-Kerrisdale.
In the two main categories of consumers — entry-level or first-time buyers and upper-end buyers — affordable housing is the hottest pocket.
According to Pospischil, this means one-bedrooms in the $350,000 range, two bedrooms under half a million dollars, and detached houses under $1,000,000.
“They’re out there,” Pospischil said with a laugh.
While the higher-end markets in places like Shaugnessy have quieted down, it’s the first-time buyers who are making an impact on the real estate market.
Some local realtors weigh in on areas that are looking hot to buyers right now: “A lot of people are switching to the east side,” Pospischil said. “We’ve been busy down there.”
“It’s more affordable and still relatively close to downtown,” Pospischil said. “You’ll get similar property for almost half the price.”
Richmond
“We are still priced very well here for young families to hop in,” Shafik Ladha of Re/Max West Coast said.
In May, according to MLS sales facts, Richmond was second only to east Vancouver in detached home sales, and first in attached home sales.
North Vancouver
According to Ozzie Jurock, of Jurock’s Real Estate Insider, North Vancouver might be the next Yaletown.
Lower Lonsdale is turning into Yaletown but with more affordable prices, he says.
The Pier Project will only do more to increase value.
Downtown
Is it any surprise? In May alone, there were 422 apartment sales in the area. That’s more than double any other area in Metro Vancouver.
Despite a median price of $458,500 for an apartment, buyers are still flocking to the core.
No matter what the area, Metro Vancouver is abuzz with real estate activity.
“Mortgage rates are low,” Pospischil said. “Money is cheap to borrow and there is a big selection of product to choose from right now.”