taxi Posted July 17, 2018 Share Posted July 17, 2018 49 minutes ago, bishopshodan said: Condo prices are still going up in Vancouver. 18% in the second quarter. https://www.langleytimes.com/news/greater-vancouver-condo-prices-jump-18-in-second-quarter-report/ Even though there are more listings available. I think the condo prices, that are still very pricey imo, are the sweet spot for investors and first home owners. There is not enough condo inventory and the detached home fluctuations could be scaring people off. However the detached are still going up too.. just not as fast. There will probably be a cooling period but people hoping that there will be a big crash should not hold their breath. Meanwhile , I played golf on Burnaby mountain on Friday to support the SFU Football Alum, then off to Nanoose on the Island on Saturday to stay in my sisters new Air B&B home on the water, then on to a lake house for Seadoo-ing at Horne Lake for Sunday. Back to Vancouver on Monday, spent the time drinking Yellow Dog 'chase my tail pale ale' at the Tap Shack patio ( btw, they let you bring your dog!) under the Burrard Bridge on the Sea wall on Monday. What a province to live in. I absolutely love BC and the West Coast is like no other. I've travelled around the world, toured Canada 6 times and the US twice by Van. I've seen a lot of what the world has to offer. I have found some places that are incredible. but all things considered. I will never leave BC. Go Canucks. Condo prices surged, as many people were buying prior to the stress test being implemented. Lower end condos are still selling though. Through June, price increases almost stopped: https://vancitycondoguide.com/vancouver-condo-prices-decelerate-in-june/ It looks like the tipping point is occurring right now. Link to comment Share on other sites More sharing options...
bishopshodan Posted July 17, 2018 Share Posted July 17, 2018 20 minutes ago, taxi said: Condo prices surged, as many people were buying prior to the stress test being implemented. Lower end condos are still selling though. Through June, price increases almost stopped: https://vancitycondoguide.com/vancouver-condo-prices-decelerate-in-june/ It looks like the tipping point is occurring right now. Yes,imo the best investment in the market is what they are calling lower end condos in GVRD. ($600-$700k range). Its an inventory thing, from your article ' it’s important to note inventory is still dwindling near all time lows, this will help cushion condo prices in the time being.' Prices are still going up despite sales decreasing. Prices will slow do on condo's I'm sure...but i am not convinced prices will reduce.Again, I am talking about GVRD condos, not detached homes or luxury properties. Thats what I was trying to point out. Link to comment Share on other sites More sharing options...
bishopshodan Posted July 17, 2018 Share Posted July 17, 2018 40 minutes ago, kingofsurrey said: Maybe more current https://www.theglobeandmail.com/business/article-vancouver-housing-sales-drop-as-prices-flatline/ Maybe, but isn't your article was published 6 days before the one I posted? and from your article, as I was pointing out specifically Vancouver condo prices 'The region’s condo market saw a 5.7-per-cent gain over the past year to hit an average of $693,626.' I'm not talking about total sales, nor the benchmark price of all properties in an area. I am talking about average Condos, in Vancouver. I believe the silly rush on luxury and detached homes over inflated them. However the inventory problem and literal affordability of a condo will keep them somewhat stable. Even though an average condo might be near $700k, people could still get into one easier than the millions detached home were going for. Link to comment Share on other sites More sharing options...
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