Vancouver home sales, average prices, apartment rents and vacancy rates.
The Canadian Real Estate Association expects the resale cooling trend to continue through 2009 across B.C. The number of sales is expected to fall by 19.2 per cent while prices of existing homes will tumble by 10.6 per cent. While sales are expected to recover in 2010, prices will be down less than one per cent.
Vancouver new house price changes from StatsCan:
-7.8% (March 2008-March 2009)
-6.1% (February 2008-February 2009)
-2.3% (December 2007-December 2008)
-2.3% (November 2007-November 2008)
-0.4% (October 2007-October 2008)
1.4% (September 2007-September 2008)
1.5% (August 2007-August 2008)
1.6% (July 2007 – July 2008)
1.8% (June 2007-June 2008)
2.7% (May 2007-May 2008)
5.4% (April 2007-April 2008)
6.6% (February 2007-Feb. 2008)
0.2% (January 2008-Feb. 2008)
Average resale home prices from MLS statistics:
$565,003 (April 2009 - down 8.2% from April 2008)
$530,763 (March 2009 - down 14% from March 2008)
$560,953 (December 2008 – down less than 1% from December 2007)
$535,988 (September 2008 - down 8.1% from September 2007)
$611,613 (June 2008 - up 8.3% from June 2007)
Single-family and multiple unit housing starts for B.C. from Canada Mortgage and Housing Corp. statistics:
5,287 (January-June 2009, down 69% from 2008)
30,857 (2008)
34,362 (2007)
18,705 (Total 2006)
Average monthly rent for two-bedroom apartment from CMHC statistics:
$1,154 (April 2009)
$1,125 (October 2008)
$1,071 (April 2008)
$1,086 (October 2007)
$1,051 (April 2007)
$1,045 (October 2006)
Vacancy rate:
1.9% (April 2009)
0.5% (October 2008)
0.9% (April 2008)
0.8% (October 2007)
0.9% (April 2007)
0.7% (October 2006)