#Donthave1million #Dontneed1million Housing Affordability in the Lower Mainland


Blog by Arnold Shuchat | June 16th, 2015


With all of the talk surrounding housing affordability right now, I thought I would just run some numbers and put them out there for all to see, so that everyone would be dealing with the same facts.  I have gone through every area in the Real Estate Board of Greater Vancouver, which does not include the Fraser Valley and set out the number of homes priced below 1 Million dollars and the total number in each area. This data is for single family homes only which have freehold, non-strata titles.

Does one really need at least one million dollars to buy a home in our area? Pretty much in Vancouver West and in West Vancouver.

Area # Properties # of Properties % Cheapest  Median  Median/
Listed  <$1Mill Single FDs Sales Price Cheapest
Pitt Meadows 24 23 96 369,900 619000 1.67
Maple Ridge 271 258 95 290,000 538800 1.86
Port Coquitlam 67 58 87 479,900 650870 1.36
Sunshine Coast 67 58 87 151,900 360250 2.37
Squamish 77 58 75 469,000 659000 1.41
New Westminster 61 45 74 500,000 806500 1.61
Ladner 43 28 65 389,900 757500 1.94
Coquitlam 277 139 50 389,000 893000 2.30
Tsawwassen 62 23 37 698,000 881500 1.26
Port Moody 68 20 29 609,000 999900 1.64
Burnaby East 48 14 29 674,900 900000 1.33
Vancouver East 356 70 20 599,900 1200000 2.00
Richmond 557 86 15 599,900 1151000 1.92
North Vancouver 227 33 15 424,000 1300000 3.07
Burnaby South 159 21 13 829,000 1287000 1.55
Whistler 62 7 11 659,000 985000 1.49
Burnaby North 166 16 10 878,000 1243000 1.42
West Vancouver 472 10 2 932,800 2370000 2.54
Vancouver West 629 0 0 1,448,000 2884000 1.99