February 9, 2017
Looking back at 2016, we see that North Vancouver condos was a rip roaring market. The same was true for Surrey condo market. This despite the government regulations and flash taxes imposed by all levels of Government
In my article written in February 2016 on my blog I mentioned there was a huge gap to be filled. Given the fact that all surrounding areas had moved up, the demand was huge with 20 year highs (interprovincial migration) and supply at an all time low, it made for a perfect setup.
And here was the result:
A 29.5% increase in price. Had you used a 10% down payment, that would equate to a 292% ROI! If you placed 20% down, your ROI would have been 146%.
Inventory levels continue to drop as per my initial article on CEO.ca and despite all regulations from Government, prices continue to rise because demand is very high. Interprovincial migrations to British Columbia continue to skyrocket.
The same occurrence is happening in Surrey, British Columbia:
Inventory levels are at a record low and Surrey is one of the largest growing city in Canada.
Surrey Whalley Condo 2017 Forecast:
The result is a good solid run in prices in 2016 for Surrey condos and going into 2017 I firmly believe that with the med/tech/educational sector settling into Surrey downtown Whalley will make the area a strong performer this year.
If you would like to find out more of what and where to buy in Whalley give me shout. I would be glad to help. There are areas you don’t want to be in Whalley, and there are areas that will be extremely desirable – just like Hastings in Vancouver! Call me at 604-767-3703.
Happy new year!