Quote:
Originally Posted by Tapioca
3600 square foot of land at $1.8M. The price gap between Clayton and say, East Vancouver/Burnaby Heights is awfully close nowadays.
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I think with the whole pandemic still in full effect, and many jobs allowing either WFH or less visit to the office, the trend is going outward for that less congested and more private space lifestyle.
It's always a cycle. Expensive areas would go up by a larger margin, making less expensive areas seem more attractive, they would go up. And then when things gets more balanced, it'd go back to expensive areas such as Van proper/West.
If you take a look at the newest assessment, outer areas such as Surrey/Langley went up for a whopping 30%+ while Van West is moderate at 1x%. Some places in downtown/Yaletown even went down a little.
Thus, until the outer area's craze cools off or reach a point that makes Van West seems cheap, we'd see more and more outward movement. And the trend is showing as such given Vancouver proper actually had a net outflow of population in recent years.