The Vancouver region’s house price index eked out a 0.6 per cent gain in June from May to reach a new bellwether.
Vancouver’s Teranet-National Bank House Price Index posted a jump of 13.3 per cent from June of last year. The index’s reading of 292.84 remains the highest in the country.
The average price in Vancouver stood at $941,607 in June.
National Bank of Canada senior economist Marc Pinsonneault notes that prices for condominiums have risen at a fast clip since the beginning of the year in Vancouver, soaring at an annualized rate of 16.3 per cent after seasonal adjustments. Prices for other types of dwellings held their ground. – Source: Globe and Mail, Friday, June 13, 2018
Milad Khavari of Re/Max Kanavero Real Estate Team adds, “In addition to price increases, we have certainly seen increased interest in the high-end condo market this past month, particularly in presales of master-planned developments offering the types of amenities that foster work/life balance.”