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METRO VANCOUVER (NEWS 1130) – The price of a single-family house is down in parts of the Greater Vancouver area, according to the Canada Mortgage and Housing Corporation (CMHC). This follows a regional slowdown in real estate sales we have seen in recent months.
Some realtors have told us that prices have fallen in some areas because of the sluggish market. Now, the new figures from CMHC show that house prices in West Vancouver and West Vancouver have dropped from one year to the other by five to seven percent.
These figures relate only to single-family dwellings. Here is an image of the Canada Mortgage and Housing Corporation. The largest declines in West Vancouver, Vancouver & Westside. #VanRE pic.twitter.com/9GVw7t2CqZ
– Martin MacMahon (@martinmacmahon) July 26, 2018
North Vancouver and Richmond See More Modest Price Decreases – with declines of up to four percent.
But this trend is not universal throughout the region. Prices are still rising from one year to the other of 6 to 15% in many communities, including Surrey, Langley and Maple Ridge
Meanwhile, the price of one apartment in Greater Vancouver continues to increase. In cities such as Surrey and Langley, they increased by 26 to 35% from year to year
In Vancouver and North Vancouver, apartment prices rose by 16 to 20%.
More to come
Evaluation of the housing market-vancouver-68645_2018_Q03
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