{"id":547,"date":"2016-01-09T08:55:14","date_gmt":"2016-01-09T16:55:14","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=547"},"modified":"2016-01-08T09:39:42","modified_gmt":"2016-01-08T17:39:42","slug":"surging-market-putting-more-more-vancouver-homes-out-of-reach","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2016\/01\/surging-market-putting-more-more-vancouver-homes-out-of-reach\/","title":{"rendered":"Surging Market Putting More &#038; More Vancouver Homes Out of Reach"},"content":{"rendered":"<p style=\"text-align: justify;\">2015 has seen modest or negative real estate price growth in all but two Canadian markets \u2013 namely, Vancouver and Toronto. Taking these two areas into account, average resale home price across Canada went up by 10.2%.<\/p>\n<p style=\"text-align: justify;\">In particular, the latest official figures showed that the MLS home price index (the rate of price changes over time) for the Vancouver market as of December 2015 was up by 18.9% from 2014. Also, the benchmark for detached-house properties went up by 24.3% over the same period, representing a price of $1,248,000.<\/p>\n<p style=\"text-align: justify;\">This trend has prompted the increased popularity of the #DontHaveAMillion hashtag among disgruntled would-be owners, highlighting the invisible barrier that looms over a growing fraction of the purchasing population. This is in conjunction with the number of Vancouver homes listed for sale last year, which was among the area\u2019s lowest historically.<\/p>\n<p style=\"text-align: justify;\">Compounding the situation for prospective buyers are the latest mortgage rule changes that will saddle consumers going for properties worth more than $500,000 with larger down payments.<\/p>\n<p style=\"text-align: justify;\">Despite rumbling discontent, however, the burgeoning market is showing no signs of stopping as 2015 home sales went up by almost 28%, translating to 42,326 transactions in that year alone. Vancouver property assessments have seen a corresponding increase to 30%.<\/p>\n<p><a href=\"http:\/\/www.canadianrealestatemagazine.ca\/news\/surging-market-putting-more-and-more-vancouver-homes-out-of-reach-201460.aspx\" target=\"_blank\">Surging Market Putting More &amp; More Vancouver Homes Out of Reach<\/a> by Canadian Real Estate Wealth<\/p>\n","protected":false},"excerpt":{"rendered":"<p>2015 has seen modest or negative real estate price growth in all but two Canadian markets \u2013 namely, Vancouver and Toronto. Taking these two areas into account, average resale home &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2016\/01\/surging-market-putting-more-more-vancouver-homes-out-of-reach\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-547","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Surging Market Putting More &amp; More Vancouver Homes Out of Reach &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2016\/01\/surging-market-putting-more-more-vancouver-homes-out-of-reach\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Surging Market Putting More &amp; More Vancouver Homes Out of Reach &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"2015 has seen modest or negative real estate price growth in all but two Canadian markets \u2013 namely, Vancouver and Toronto. Taking these two areas into account, average resale home &hellip; [read more]\" \/>\n<meta name=\"twitter:creator\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:site\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Rory Clipsham\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2016\\\/01\\\/surging-market-putting-more-more-vancouver-homes-out-of-reach\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2016\\\/01\\\/surging-market-putting-more-more-vancouver-homes-out-of-reach\\\/\"},\"author\":{\"name\":\"Rory Clipsham\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"headline\":\"Surging Market Putting More &#038; 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