HIND SAMACHAR

HS_25_36_June_17_Jagtar.qxd 6/17/2011 12:53 PM Page 11
HIND SAMACHAR
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778-863-8245
First Bi-Lingual (Hindi & English) Newspaper in B.C.
VOLUME 2, ISSUE 14
PH:778-863-8245,
REALTY EDITION, JUNE 17, 2011
E-MAIL:[email protected]
MARKET TRENDS AS ON 31st MAY
Housing prices are continuing steady rise in
greater Vancouver. The average unit prices are the
highest as compared to other cities in Canada. The
latest data as on 31st May 2011, relating to the sale of
the housing units in Vancouver as published by the
Real Estate Board of Greater Vancouver is given as
below:
date during this and the last year. The selling prices in
respect of the land are indicating a sharp escalation
when the month of May last year is compared with this
month. The increase is as high as 34%.
It is noticeable from the above statistics that
detached houses are leading in the increase of sale
prices. The increase in average sale price of the land
also cannot be ignored, which is not less than 34%
column it was 20%. In respect of new units it was 14%
in the year to date column.
It is also interesting to note that the sale of new
detached house units rose to 84 in this May which was
66 in the same month of last year. This is an encouraging figure in spite of the fact that the buyer has to
pay HST on purchase of a new house.
From the statistics given above, it appears that
It is therefore, evident that the market trends durthe average unit
ing the month of
prices, in respect
AVERAGE SALE PRICE IN RESPECT OF RESIDENTIAL UNITS IN GREATER VANCOUVER
May also are on
of detached catthe increase parHOUSE TYPE MAY 2011 MAY 2010 INCREASE YEAR TO DATE
INCREASE
egory of houses,
ticularly in respect
THIS YR
LAST YR
were $ 955,154
of old units of
in May 2010 and
DETACHED $1,223,421
$ 955,154
28%
$1,182,956
$ 978,899
20% resale category of
rose to as high
detached houses.
ATTACHED $ 555,057
$ 541,507
2%
$ 566,904
$ 545,309
3% The investor thereas $ 1,223,421
in May 2011.
APARTMENTS $ 465,422
$ 422,835
5%
$ 462,188
$ 432021
6% fore, has great
This indicates a
opportunity
to
LAND
$ 479,609
$ 355,375
34%
$ 577,104
$ 535,287
7%
remarkable
invest in real
increase of 28%
estate and multiply his money in a fastest way.
in prices of this year and last year. If we compare the when compared during the month of May this and the
year to date sale prices this and the last year, the last year. The property in Vancouver, as such is
by
average prices rose from $ 978,899 to $ 1,182,956 becoming costlier day by day.
showing a steep increase of 20%. In respect of
Aditya (ED) Kumar
If we further analyze the data in respect of new
attached houses, the increase of 2% has been indicat- and resold units of detached houses as given the
(Aditya Kumar is a
ed when the month of May is compared between this REBGV, the prices of houses on resale are increasing
famous realtor with
year and last year. The sale prices of apartments was more rapidly as compared to the new houses. The
Sutton West Coast Really)
rather more as compared to the attached houses prices in respect of the old detached houses rose from
604-716-1919
which shows an increase of 5% when compared for $ 935,988 to 1,219,305 recording an increase of up to
[email protected]
the month of May and 6% when compared in year to 30% during the months of May, and in the year to date
Always remember for all real estate needs!
Aditya (Ed) Kumar
604-716-1919
www.kumarrealtor.com
SANJAY VERMA
604-591-7337
E-mail:[email protected]
FREE HOME EVALUATION
Find out what other homes in your area are selling for
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