The market continues to be in transition particularly where detached properties are concerned. Affordability and financing approvals are proving to be a challenge which explains why we are seeing such strong activity in the affordable townhouse and condo segments of the market!
The rental market in the Vancouver area has also seen a significant shift with extremely low vacancy rates and rents pushing higher after staying fairly flat for the last 5 years or so. Suddenly condo`s are looking to be a good investment again with positive cash flow possible with even a very small down payment!
This kind of market varies greatly depending on property type, location and price point and can be misleading to consumers from reading the media which tends to sum the overall market up in a blanket statement !
Stay tuned!