CHARTS: Lower Mainland house prices jump 7.7 per cent in May

Fastest real estate price gain in past six months has been in Surrey area (with interactive charts by city)

Demand for townhouses is up in the Fraser Valley.

Lower Mainland house prices climbed by an average of 7.7 per cent in May, according to the new monthly summary of transactions from area real estate boards.

The latest monthly increase means Fraser Valley detached house prices are up 38.3 per cent from one year ago to $834,200, and the benchmark detached house in the Greater Vancouver area is up 36.9 per cent to $1.51 million.

The biggest recent price gains have been in North Surrey and North Delta – both up just over 30 per cent in the last six months – followed by Richmond (up 29.8 per cent) and South Surrey/White Rock (up 28.3 per cent.)

SEE INTERACTIVE CHARTS OF GAINS BY CITY BELOW

Benchmark prices of townhouses were $365,000 across the Fraser Valley in April, up 20.4 per cent from a year ago, while apartments were up 17 per cent year-over-year to $225,200.

In the Greater Vancouver area, attached homes were up 24.9 per cent from one year ago to $632,400, while apartments were up 22 per cent to $485,200.

“Home sellers are becoming more active in recent months, although that activity is being outpaced by home buyer demand today,” said Dan Morrison, president of the Real Estate Board of Greater Vancouver, which excludes Surrey, North Delta and White Rock.

“Economic and job growth in Metro Vancouver is out performing most regions in the country. This is helping to underpin today’s activity.”

The Fraser Valley Real Estate Board is still seeing “tremendous” demand for detached houses despite signs that is levelling off, said president Charles Wiebe.

“We’re also seeing the ripple effects as consumers are looking to townhomes and apartments in record numbers. This year, so far, is the busiest those markets have ever been.”

Copy: HOME PRICE CHANGES APR2016Create bar charts

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Voters in Saanich North and the Islands, here lining up outside Sidney’s Mary Winspear Centre on the first day of advanced voting, are among the provincial leaders in getting in their votes early, with some 20 per cent (10,174) of eligible voters have already cast their ballots. (Wolf Depner/News Staff)
It’s Election Day in B.C.: Here’s what you need to know to vote in Mission

B.C.’s snap election has already broken records for advance voter turnout, mail-in ballots

file
One dead after fiery crash near Agassiz

Agassiz RCMP report a 56-year-old man died Friday night

The possibility of the Canadian Premier League expanding to the Fraser Valley has been floated online. (Facebook photo)
Canadian Premier League possibly eyeing Fraser Valley expansion

Soccer league looking to add ninth team to the mix, B.C. markets potentially rumoured

Metro Creative Connection Photo.
Mission council decides to revert back to ‘lifetime’ fire-pit permits

District moving towards restriction, rather than prohibition, of backyard burns

The number of new COVID-19 cases in the Fraser South region has doubled in the last two weeks. The number of cases in the Fraser East region has tripled.
Chart: Tyler Olsen
COVID-19 surge in B.C. fuelled by spikes in new cases in Fraser Valley & Surrey area

Number of newly confirmed cases has tripled in Fraser Valley and doubled in the Surrey/Langley area

B.C. provincial health officer Dr. Bonnie Henry gives a daily briefing on COVID-19 cases at an almost empty B.C. Legislature press theatre in Victoria, B.C., on March 25, 2020. (Don Craig/B.C. government)
B.C. sees 223 new COVID-19 cases, now 2,009 active

Two new care home outbreaks in Surrey, Burnaby

BC Hydro map showing where power has been knocked out is dotted with over a dozen outages. (BC Hydro map screenshot)
Thousands without power on election day

One outage in Langley and Surrey is afecting over 4,000 customers

BC Liberals Leader Andrew Wilkinson, BC Greens Sonia Furstenau, BC NDP John Horgan (The Canadian Press photos)
British Columbians vote in snap election called during COVID-19 pandemic

At dissolution, the NDP and Liberals were tied with 41 seats in the legislature, while the Greens held two seats

100 Mile Conservation officer Joel Kline gingerly holds an injured but very much alive bald eagle after extracting him from a motorist’s minivan. (Photo submitted)
B.C. driver thought he retrieved a dead bald eagle – until it came to life in his backseat

The driver believed the bird to be dead and not unconscious as it turned out to be

Chastity Davis-Alphonse took the time to vote on Oct. 21. B.C’s general Election Day is Saturday, Oct. 24. (Chastity Davis-Alphonse Facebook photo)
B.C. reconciliation advocate encourages Indigenous women to vote in provincial election

Through the power of voice and education Chastity Davis-Alphonse is hopeful for change

White Rock RCMP Staff Sgt. Kale Pauls has released a report on mental health and policing in the city. (File photos)
White Rock’s top cop wants to bill local health authority for lengthy mental-health calls

‘Suggestion’ included in nine-page review calling for ‘robust’ support for healthcare-led response

A Le Chateau retail store is shown in Montreal on Wednesday July 13, 2016. Le Chateau Inc. says it is seeking court protection from creditors under the Companies’ Creditors Arrangement Act to allow it to liquidate its assets and wind down its operations.THE CANADIAN PRESS/Ryan Remiorz
Clothing retailer Le Chateau plans to close its doors, files for CCAA protection

Le Chateau said it intends to remain fully operational as it liquidates its 123 stores

The family of Anika Janz, who died after collapsing at school, has launched a GoFundMe to assist with funeral proceedings. (GoFundMe photo)
Family of student who died launches GoFundMe

Rick Hansen Secondary School student Anika Janz, 14, died after collapsing in PE class

Most Read