Metro Vancouver real estate prices forecast to keep climbing through 2017

November 17, 2015 11:00 am

bc local news

New real estate forecasts predict Lower Mainland housing prices will continue their ascent to new highs over the next two years.

Central 1 Credit Union projects resale median residential prices of Greater Vancouver homes will climb 6.1 per cent in 2016 and 3.8 per cent in 2017.

Senior economist Bryan Yu says detached houses are becoming “luxury” real estate as “prices that far outpace income affordability fundamentals” increasingly put them out of reach of large portions of the population.

He estimates detached house prices will continue to run up faster – 10 per cent in 2016 and 6.6 per cent in 2017.

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