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Metro Vancouver Housing Starts

Metro Vancouver housing starts for January, 2012

CMHC reported on January 8, 2012 that "housing starts in metro Vancouver were 8% higher at 1,555 compared to 1,436 in January 2011. British Columbia’s urban centres were up 28% in January compared to December" Condominiums at 74% of the total housing starts are the dominant sector for new construction permits. View homes for sale in Greater Vancouver, Fraser Valley and Chilliwack.

multiple-family starts accounted for about four-fifths of the housing starts in urban areas of the province, mostly in Vancouver, Burnaby, Nanaimo, Coquitlam and Surrey.

Population growth

Statistics Canada released census data showing B.C.’s population grew to 4.4 million over the last five years, making it the second-fastest growing province next to Alberta.

In Metro Vancouver, there were 1,555 housing starts in January 2012, 1,155 of them multi-family, compared with 1,436 starts, 1,256 of them multi-family, in January 2011.

There are many reasons for the growth in multi-family housing in urban areas. Cost of housing, demographics and lifestyle are the main factors for the growth in multi-family construction. The trend toward multi-family construction will continue as condos and townhouses are more affordable to home buyers. More people moving to B.C. and baby boomers downsize are important factors for the growing trend for multi-family developments.

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Abbotsford Real Estate > Homes For Sale

Abbotsford real estate > homes for sale

Abbotsford real estate market for detached homes for sale currently has just over 800 listings on the MLS system. Manufactured homes which are mostly priced under $200,000 account for a very small per centage of just around 2.5% of the total single family homes for sale in Abbotsford.

Abbotsford homes are more affordable

Abbotsford homes for saleAbbotsford is one of the mucicipility in Fraser Valley where one can buy a detached single family detached entry level home under $300,000. There are more selection of better quality detached homes in Abbotsford at prices from $350,000 to $500,000. The homes for sale within this price range are made up of around 350 homes. This group of Abbotsford real estate accounts for about 42% of the detached homes listed for sale.

Executive homes in Abbotsford

Within the medium price band from $500,000 to $600,000, this group of Abbotsford homes forms about 17% of the single family homes for listed for sale on Abbotsford MLS system.

The more expansive Abbotsford homes are those that are priced over $600,000. This represents about 300 homes and forms about 35% of the single family homes for sale in Abbotsford.

Million dollar homes in Abbotsford

There are just under 100 Abbotsford single family homes that are for sale within this price group. The most expansive home is listed at a pricely $5.8 million. Most of the million dollar homes in Abbotsford that are priced above $1.2 million are acreage homes.  

If you like to have more info on any of the Abbotsford homes listed for sale, kindly contact us at 778-297-3000 or email us.

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