Those prices in Surrey are more likely to fall than even Vancouver. The million dollar homes in Newtwon the most.
Thing is about Vancouver is the 4 million dollar house is probably owned by someone wealthy.
The million dollar Newtown home is more likely to be owned by someone that is leveraged to the teeth and all giddy about have a hundred k in equity.
History shows swanky neighbourhoods actually tend to fair the best. It's the pretenders that really get slaughtered......
The City of Surrey has been named one of the top five real estate investment cities in Canada by Business Review Canada.
A recently released report by the organization highlighted Surrey's strategic location, increasing business opportunities and population growth, and emphasized the city is a prime location for business. The cities were chosen based on factors ranging from market stability to housing prices, and future growth potential.
"Surrey is an emerging metropolis with a dynamic local economy," the report states. "With over 6,000 acres of parkland and green spaces, and an array of bike lanes and trails sprinkled throughout the city, Surrey offers residents an arrestingly beautiful landscape with all of the amenities of a bustling city."
Surrey Mayor Dianne Watts said she was proud of the recognition, noting that her council has worked hard to maintain one of the lowest tax rates in Canada and continues to cut red tape to foster a competitive environment for business.
In 2011, Western Investor Magazine named Surrey the best place in Western Canada to invest in real estate. The Real Estate Investment Network has repeatedly named Surrey the best place in B.C. to invest, and also ranked the city fourth on the list of top Canadian investment cities.
Other cities on the list include Barrie, Ontario, Maple Ridge and Pitt Meadows and Red Deer, Alta.
Read more: http://www.vancouver...l#ixzz2JKWdLxk2