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Average Property Tax: 5266.875, Average Square Foot: 3157.202, Average Days On Market: 51, Average Year Built: 1969.
City Guide Surrey, British Columbia
Surrounding an area of 315 square kilometres, Surrey is British Columbia’s second most populous city, boasting a population of around 508,000. This Canadian province’s city is a bustling metropolis with much to offer.
By 2030, it is very likely that the population of Asian immigrants will be so great that it will surpass that of Vancouver.
Recently-built homes in Cloverdale have a modern architectural design, and range in price from fully attached townhomes to several million dollars for the mansions, which can take up many thousands of square feet of property. The townhomes are in the high 6-figure range, while the mansions are even more expensive.
The community in Fleetwood is highly connected due to its suburban nature, with houses being much closer to each other. This is evident in the variety of housing types present, such as detached traditional homes and newly built condos in low-rise buildings.
The majority of Surrey’s population are homeowners, with around 30% being renters. Single detached homes make up around one-third of all buildings, with the remainder mainly comprising of apartments, duplexes and townhouses. The vast majority of homes were constructed in the 1960s and 1980s, with the last third being built after the year 2000. These dwellings typically have three or more bedrooms.
Surrey, BC is a multicultural city located in the metropolitan municipality of Vancouver. It offers more affordable housing prices than Vancouver, making it an attractive option for both residents and visitors alike. Not only is it a suburban neighborhood, but it also has a unique range of cuisines, shops, campgrounds, and plenty of outdoor activities such as hiking and parks.
One of its most notable features is the year-round access to the stunning Pacific Ocean views. With its idealistic climate and nature-filled neighborhoods, Surrey is an ideal place to live, whether you’re looking for a family home, an urban oasis, or farmland.
Surrey Real Estate Market
Featuring a range of modern architectural designs, Cloverdale is home to an impressive mix of residential properties. Check out some open houses when you get a chance with our very own real estate agents – either in the Surrey City Centre or other Surrey real estate listings. We also offer listing service for new developments so we could include that in our real estate search. From fully attached townhomes to luxurious mansions spanning several thousand square feet of land, the price of these homes vary greatly, ranging from the high six-figures to a few million. Many of these properties have been recently constructed, adding to the appeal of the community. Many single family homes are also available.
The community of Fleetwood in the Lower Mainland is home to a combination of traditional residential homes with no shared walls, and some newly built low-rise condos. Its suburban nature ensures that the houses are close to one another, demonstrating the strong bond shared between its inhabitants. Unsurprisingly, this strong connection between neighbours is reflective of this suburb. The Surrey market is robust and the Surrey housing market stats show that Surrey’s economy supports the average prices of homes – see our latest real estate news.
Newton is known as one of the most affluent neighbourhoods in Surrey, with a highly competitive real estate market amongst wealthy individuals. In this area, you can find spacious mansions and bungalows that boast multiple bedrooms and bathrooms, a fully renovated interior with modern design, an indoor bar, and a fully furnished backyard patio.
Guildford, on the other hand, is more suitable for those on a tight budget and single professionals. Homes here tend to be cheaper than in Cloverdale and Fleetwood and consist of semi-detached townhomes, fully detached residential homes with a classic look, and smaller apartments for rent.
In the neighbourhood of South Surrey, you’ll find 7-figure mansions, low-rise condominiums, and a breathtaking view of the ocean. Plus, nearby amenities include parks, elementary schools, and other attractions.
The Whalley community boasts a variety of luxury high-rise condominiums and apartments, as well as residential houses and townhomes for small families on the outskirts.
Surrey is home to as many as 26 communities. If you are looking to invest in British Columbia real estate you will find that the average sale price in these communities for Surrey homes ranges from around $596,000 to $2.5 million. If living near the urban areas is of utmost importance to you, then you can consider looking for Surrey homes in & around the town center or City Center –also referred to as Whalley. The community is home to the Surrey branch of the Simon Fraser University along with a series of major recreational & shopping facilities.
BROWSE NORTH SURREY NEIGHBOURHOODS
BROWSE CLOVERDALE NEIGHBOURHOODS
Here are some of the famous Surrey neighborhoods to try out:
- Cedar Hills
- Bolivar Heights
- Royal Heights
- Fleetwood Tynehead
- Bear Creek Green Timbers
Surrey is known for its low population density in British Columbia. This is quite typical of the cities in North America –including areas of light industry, residential housing, and Surrey central commercial centers. The climate in Surrey features the typical Pacific Northwest inter-coastal weather conditions. As such, you can witness rainy & wet winters along with heavy rainfalls that last into later springs. For the summers, the region experiences mild & sunny summer conditions. The autumn season is quite cool & breezy.
Home Buyers – house for sale in Surrey
As a city, Surrey is home to a wide number of independent houses, high-end apartments, condos, and family homes. As a home buyer in Surrey real estate, you can keep checking the local real estate board for in-depth information about Surrey homes and condos for sale. One of the major advantages of Surrey and its real estate market is that it is home to the wide-ranging background of the diverse culture of the residents. Over third of the population of the city is known to be born outside Canada & British Columbia.
Surrey offers a lot more affordable housing prices than Vancouver, Burnaby, North Vancouver and Downtown Vancouver. Surrey is an ideal place for young families to settle down because of city’s growing infrastructure, education facilities, parks and trails, entertainment and shopping.
According to Real Estate Investment Network (REIN), Surrey took first place in ranking for real estate investment in British Columbia.
Surrey offers a large variety of real estate. There you can find luxury high rise apartments with city views, beachfront property, and farmlands.
For the potential home buyers in Surrey, the Surrey real estate market is both accessible as well as affordable. There are several popular places in & around Surrey real estate that draw the attention of the potential real estate investors in the region. Some important ones to note are:
- White Rock
- Panorama Bridge
- Sullivan Station
- Bear Creek
- Fraser Heights
- Port Kells
- Elgin Chantrell
- Fraser Valley
- West Newton
- Maple Ridge
- West Vancouver
- Port Moody
- Queen Mary Park
- East Newton
Most of the Surrey home buyers opt to buy a home or condo in a nearby city to commute to work easily. You should look out for neighbourhoods that might be closer to highways or train stations including Walnut Grove and Ladner. Some of the highly sought-after cities close to Surrey are:
- Langley BC
- White Rock
- New Westminster
- Pitt Meadows
If you are buying a home in Surrey and wish to know about the leading institutions of education in the region, here are some famous schools to know about:
- Star of the Sea
- Iqra Islamic
- Our Lady of Good Counsel
- Pacific Academy
- Regent Christian
- Fleetwood Park
More than half of Surrey residents drive to work. It only only takes about 30 minutes to get from Surrey to Downtown Vancouver by car. Vancouver Airport (YVR) is also about 30 minutes away when driving along Highway 91. You can use Trans-Canada Hwy to get to West Vancouver.
Surrey’s main highways are: Hwy 1 (Trans-Canada Hwy), Fraser Hwy, Hwy 10 and Hwy 15 (Pacific Highway).
You can get to Downtown Vancouver from Surrey via SkyTrain using Expo Line.
TransLink bus system is well developed in the city and many people use public transport in Surrey.
Major bus loops of exchanges in Surrey BC include,
- Gateway Station
- King George Station
- Guildford Exchange
- Scott Road Station
- Newton Exchange
- Scottsdale Exchange
- White Rock Center
- Surrey Central Station
- South Surrey Park and Ride
You will also find several bus stops, along with signs and stop poles across the city, operated by TransLink. Surrey BC is also known for a wide range of shelters, walkways, sidewalks, and benches scattered evenly throughout its area. You can take Trans-Canada Hwy to get to Pitt Meadows and North Vancouver.
The city is well-connected by the SkyTrain –an advanced, rapid light rail system that provides the residents with an ease of access to & from downtown Vancouver. There are also a wide number of inter-connected bus routes. Moreover, there are several paths and bike lanes as well. Around 84 percent of the residents in Surrey drive to work while 13 percent of them use means of transit in the city.
Entertainment And Tourism
When you have some free time, you can explore the many shopping malls located in multicultural city of Surrey or check out Metrotown, one of the largest shopping malls in the country. For the golf enthusiasts, the city is a great destination as it hosts several PGA tournaments at its golf courses. Swing your club and hit the ball around the green and make your visit to Surrey an unforgettable one.
Be careful when ordering your food as you may accidentally get a dish that is too spicy for your taste! From international chains and franchises to local restaurants, there are thousands of dining options available to you. The influx of immigrants has led to an abundance of Indian and Asian eateries. No matter what your taste, you will be sure to find a restaurant that suits your needs.
A fun fact about Cloverdale: It has been used as a backdrop for TV shows and movies, such as Smallville, to shoot some scenes! This small town in the eastern region of Surrey is one of the oldest communities in the city and offers visitors a chance to experience its rich heritage with many old-style buildings. As a reminder of its past, Cloverdale proudly puts its history on display.
Here in Fleetwood, located in the upper centre area of Surrey, there are many amenities that cater to the community-oriented atmosphere. Parks with plenty of room for evening strolls, sports complexes that have a diverse array of sports available to its members – these are just some of the attractions that this area offers.
Residents of Guildford will find it convenient living in the northeastern quadrant of Surrey, as they can enjoy fast access to any part of the city due to the nearby freeway. The area has seen recent development, including the rise of small and medium sized businesses, which makes it attractive for many.
Open access parks located in Newton, a community on the western end of Surry, have been known to provide artistic inspiration for aspiring artists and a great exercise opportunity for joggers and cyclists. The two centres located in the area, the Newton Cultural Center and the Bell Center, are venues for both professional and amateur artists to showcase their talents. Newton is a community that values and appreciates the cultural arts.
The two most popular post-secondary institutions are the Simon Fraser University (SFU) and the Kwantien Polytechnic University. SFU is highly respected and has won many awards, including the Royal Society of Canada, and is acknowledged as one of the best universities in the country in all areas. Those looking to gain an apprenticeship in a skilled trade, certification, citation, or diploma would be best served by Kwantien Polytechnic University.
Highly recommended by parents and former students, Southridge, Diamond, and Pacific Academy are some of the elementary schools (K-8) in the area that have achieved national levels of excellence in their academic performance and aptitude. There are more than 100 schools to choose from, offering both English and French education programs.
Economic Overview & Outlook
Surrey is a thriving economic hub that is bolstered by its contributions from Academia, Agriculture, Technology, and Healthcare. Over the past decade, the city has become a hot spot for start-ups and entrepreneurs to make their visions into reality, especially in the clean energy, software, and healthcare sectors. This is largely due to the universities in Surrey, which are responsible for conducting research that is applied to other areas of the economy.
Unemployment rates for both males and females in Surrey remain well below the provincial average despite its increasing population. The city’s second largest employer is the healthcare sector, which provides growth opportunities for biotech startups specializing in regenerative medicine and curing infectious diseases. Furthermore, Surrey’s large space of land has made it a prime location for the flourishing agriculture industry. Farming alone provides thousands of local jobs while agricultural manufacturing helps the city to phase out its clean energy initiative. Last but not least, the agricultural sector provides numerous opportunities for the locals.
Surrey is well equipped for transportation, with cars being the most common mode. Parking spots are conveniently located and easy to access. Public transit is not as reliable, with only the Surrey Central Station, Scott Road Station, and King George Station being connected by the Expo Line. However, there are over 50 bus lines that provide easy access to bus stops from most properties. Walking is not an ideal option as few day-to-day needs can be met on foot. Furthermore, cycling is also a challenge due to the often steep topography and limited bike lanes.
Families in Surrey have the convenience of being able to shop for groceries on foot, as well as a small selection of restaurants and coffee shops. Primary schools are plentiful in the area, while high schools may not be within walking distance. Fortunately, both public and private schools are available at both the primary and secondary levels.
Surrey is known for its relaxed atmosphere and boasts a large number of green spaces – over 900 – that are easily accessible from various parts of the area. Despite its generally peaceful environment, it can be quite noisy near Highway 17, Highway 99, or the railway lines. For those who appreciate a tranquil setting, Surrey is a great option.
Frequently Asked Questions
How much does a detached house cost in Surrey?
In Surrey, BC, the average listing price for a detached house is $2,457,000 and they stay on the market for an average of 31 days, as per current Surrey MLS© data.
How much does a condo cost in Surrey?
The average listing price for a condo in Surrey, BC according to current Surrey MLS© data is $567,000. When looking at specific bedroom types, the average price for a 1-bedroom condo is $476,000 and the average price for a 2-bedroom condo is $626,000.
What are the most expensive neighbourhoods in Surrey?
The average price of a home in the most expensive neighbourhoods of Surrey, BC is $4,137,000 in Hazelmere, the highest of the four. These neighbourhoods include Port Kells, Crescent Bch Ocean Pk, Serpentine and Hazelmere.
What are the cheapest neighbourhoods to buy a home in Surrey?
Queen Mary Park Surrey, Whalley, East Newton and Guildford are the least expensive places to purchase a property in Surrey. Whalley has the lowest average home price at $862,000.
What are nearby cities to Surrey, BC?
The cities closest to Surrey, BC are: White Rock, with an average home price of $1,818,000; New Westminster; Langley, Port Coquitlam, with the most affordable average home price of $1,205,000; and Pitt Meadows.
How much does a townhouse cost in Surrey?
In Surrey, BC, there are currently 452 townhouses on the market, with an average listing price of $956,000 – a 1.5% increase from the previous year.
What’s the average income of a Surrey, BC resident?
The median total household income in Surrey, as per Statistics Canada Census data, is $67,702 annually, slightly higher than the median income of the whole country, which is $67,000 each year.
How many people rent versus buy real estate in Surrey?
The median monthly mortgage in Surrey, BC is $5,100, while the median monthly rent is $3,000. Of the population in the area, 73.1% own their homes, while 26.9% rent.
The data relating to real estate on this web site comes in part from the MLS® Reciprocity program of the Real Estate Board of Greater Vancouver or the Fraser Valley Real Estate Board. Real estate listings held by participating real estate firms are marked with the MLS® Reciprocity logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by the Real Estate Board of Greater Vancouver, the Fraser Valley Real Estate Board, and Richard Morrison, which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent.