No respite for property sales in Vancouver area’s scalding housing market

March torrid for home sales from Delta to Whistler, Vancouver to Maple Ridge

Vancouver’s blistering housing market continued to stun purchasers and elate sellers in March with record-breaking figures released from the Real Estate Board of Greater Vancouver.

Numbers released Monday by the board showed 5,173 residential properties were sold last month, a hike of 24 per cent over February, and 56 per cent above the 10-year sales average.

“March was the highest selling month the (board) has ever recorded,” said president Dan Morrison in a news release.

He said activity touched every neighbourhood in the region, which covers an area from South Delta north to Whistler and from Vancouver east to Maple Ridge.

Homes in Delta, Surrey or Langley are not included in the board’s tally.

A release from the board also showed new listings for all types of properties, from apartments to detached homes, continue to climb compared with last month and March of 2015.

The composite benchmark price for all residential properties across Metro Vancouver is $815,000, a 23.2 per cent hike in one year.

The average price for detached properties soared to above $1.34 million in the same period, a leap of 27.4 per cent.

“Strong job and economic growth in our province, positive net migration and low interest rates are helping to drive this activity,” Morrison said.

The Canadian Press

Just Posted

City shifts proposed transit station to King George after cancellation of LRT

Council to consider Newton Town Centre plan in fall

VIDEO: Plane makes forced landing on Highway 17 in Surrey

Police say no one was injured and no damage to aircraft or vehicles

The struggle for space inside Surrey’s elementary schools

SECOND IN A SERIES: A look at how overcrowding impacts student life

Nearly 200 motorcycles take off from Cloverdale for Brenden’s Ride

Annual fundraiser supports programs that empower people with disabilities

Surrey Schools estimates $350K for tampon, pad dispenser installation

District aims to have equipment set up by October or November

VIDEO: First Nations, developer call for return and protection of sacred B.C. burial site

Dozens of First Nations leaders gather on grassy plateau to call on action by provincial government

B.C. bus driver loses case to get job back after texting while driving full bus

An arbitator ruled that Tim Wesman’s phone usage was a “a reckless disregard for public safety”

Revamped B.C. Lions set to battle veteran Winnipeg Blue Bombers

The Lions’ first test of the season will be a big one

No business case for Trans Mountain expansion, says former environment minister

Cabinet is expected to announce its decision on the expansion of the Alberta-to-B.C. pipeline by Tuesday

LETTER: British Columbia’s forest industry crisis being made worse

Andrew Wilkinson warns of regulatory overload by John Horgan’s NDP

Convicted B.C. child abductor Randall Hopley back in custody 6 months after release

Correctional Services Canada could not provide further details due to privacy concerns

Alleged driver of semi-truck in fatal Burnaby hit-and-run identified

No charges have been laid and police say the driver is cooperating with the investigation

Bears have killed 17 people in B.C. since 1986

Number of bear complaints and bears killed rose sharply during same period

Edmonton police seek owners of items possibly stolen in Lower Mainland

Three people are facing a total of 130 charges after being arrested in Edmonton on Jan. 25

Most Read