Category: Market Update
Market Update
The Economist reveals that Vancouver is now the most expensive city in North America. Yes, even more expensive than The Big Apple (NYC) and the City of Angels (LA). Vancouver is now the 37th most expensive city in the world, up from 72nd last year.
I also noticed in an unrelated article that in the 3rd quarter alone China has had 34 Billion leave the Country, accordingly this was due to the economic climate in their region and wanting a better place to invest so perhaps a lot of the money is still making its way out here. Of course what about Vancouver Island? I feel Vancouver Island will be put on the radar for Canadian and international baby Boomers, due to our amazing scenery lifestyle and most importantly our affordability. We are of course only around 30 miles away from Vancouver and a quick 15 minute float plane ride.
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Statistics Canada shows Nanaimos population at 83,810, a gain of 6.5 per cent from 2006.
With the regional district of Nanaimo the population at 146,574 an increase of 5.7 % over the same period.
To view the general increase in BC and Vancouver as well as the link to the statistics please click below.
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In its 2012 First Quarter Housing Forecast Update, BCREA reported that BC MLS® residential sales are forecast to increase 2.1 per cent from 76,817 units in 2011 to 78,400 units this year, increasing a further 2.7 per cent to 80,500 units in 2013.
Read the full 2012 First Quarter Housing Forecast Update for information about how BC housing markets are expected to post an unremarkable 2012, and that while the inventory of homes for sale will continue to wane in most regions, consumer demand will nevertheless be constrained by modest economic growth at home and abroad.
For more details and a video click link
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