A row of new townhouss under construction in Surrey.

A row of new townhouss under construction in Surrey.

Real estate gains strongest for detached houses in 2014

Typical house price hits $1 million in Burnaby, Greater Vancouver (with interactive charts of price changes by city)

Lower Mainland real estate prices recorded modest to strong gains in 2014, with detached houses generally rising faster than townhouses or condos.

Year-end statistics released by the Greater Vancouver and Fraser Valley real estate boards show benchmark detached houses on average gained 6.7 per cent over the past year.

Those increases ranged from more than 10 per cent in Vancouver, Tsawwassen and Burnaby to less than five per cent in West Vancouver, Maple Ridge, Pitt Meadows, Port Coquitlam, Langley, Abbotsford, Mission and parts of Surrey.

The increases pushed the benchmark price of houses above $1 million for the first time in Burnaby and for the Greater Vancouver area as a whole.

Benchmark house prices across the Fraser Valley area, which includes Surrey, White Rock and North Delta, ended the year at $573,100.

Benchmark prices show the shifts of a typical property and exclude the most expensive ones that can skew average prices much higher.

Price increases were more muted for townhouses and condos across the region.

Townhouses or attached homes averaged a 2.6 per cent gain across the Lower Mainland, with the strongest gains of more than seven per cent recorded in Maple Ridge, North Delta, Squamish and Vancouver’s west side.

Benchmark townhouse prices were $293,500 in the Fraser Valley and $476,000 in Greater Vancouver.

Condo prices dropped in value in several areas in 2014, with the Fraser Valley benchmark down 0.8 per cent and the biggest drops of nearly 10 per cent in Maple Ridge and North Surrey. Greater Vancouver condos gained 3.5 per cent on average.

Benchmark condo prices ended the year at $191,100 for the Fraser Valley and $380,700 for Greater Vancouver.

The December 2014 statistics provided by realtor associations are different from the just-released home assessments, which are conducted by BC Assessment and are intended to provide a valuation snapshot as of each July 1.

HOME PRICE CHANGES |Create infographics

Just Posted

Kindergarten kids from Evans elementary school in Chilliwack painted rocks with orange hearts and delivered them to Sto:lo Elders Lodge recently after learning about residential schools. (Laura Bridge photo)
Kindergarten class paints rocks with orange hearts in Chilliwack for local elders

‘Compassion and empathy’ being shown by kids learning about residential schools

Chilliwack potter Cathy Terepocki (left) and Indigenous enhancement teachers Val Tosoff (striped top) and Christine Seymour (fuchsia coat), along with students at Vedder middle school, look at some of the 500-plus pinch pots on Thursday, June 10 made by the kids to honour the 215 children found at Kamloops Indian Residential School. (Jenna Hauck/ Chilliwack Progress)
Chilliwack students make hundreds of tiny clay pots in honour of 215 Indigenous children

‘I think the healing process has begun,’ says teacher about Vedder middle school project

Image by Free-Photos from Pixabay
Webinar looks at sexual abuse prevention among adolescents

Vancouver/Fraser Valley CoSA hosts free online session on June 15

Emergency services were on the scene of an apparent stabbing Friday afternoon (June 11) in the 2400 block of Countess Street in Abbotsford. (Photo: Kaytlin Harrison)
Two suspects arrested after apparent stabbing in Abbotsford

Incident occurs Friday afternoon in 2400 block of Countess Street

June is Brain Injury Awareness Month in Canada. (ADOBE STOCK IMAGE)
Shining a light on brain injury in Canada

June is Brain Injury Awareness Month

At an outdoor drive-in convocation ceremony, Mount Royal University bestows an honorary Doctor of Laws on Blackfoot Elder and residential school survivor Clarence Wolfleg in Calgary on Tuesday, June 8, 2021. THE CANADIAN PRESS/Jeff McIntosh
‘You didn’t get the best of me’: Residential school survivor gets honorary doctorate

Clarence Wolfleg receives honorary doctorate from Mount Royal University, the highest honour the school gives out

Two-year-old Ivy McLeod laughs while playing with Lucky the puppy outside their Chilliwack home on Thursday, June 10, 2021. (Jenna Hauck/ Chilliwack Progress)
VIDEO: B.C. family finds ‘perfect’ puppy with limb difference for 2-year-old Ivy

Ivy has special bond with Lucky the puppy who was also born with limb difference

A million-dollar ticket was sold to an individual in Vernon from the Lotto Max draw Friday, June 11, 2021. (Photo courtesy of BCLC)
Lottery ticket worth $1 million sold in Vernon

One lucky individual holds one of 20 tickets worth $1 million from Friday’s Lotto Max draw

“65 years, I’ve carried the stories in my mind and live it every day,” says Jack Kruger. (Athena Bonneau)
‘Maybe this time they will listen’: Survivor shares stories from B.C. residential school

Jack Kruger, living in Syilx territory, wasn’t surprised by news of 215 children’s remains found on the grounds of the former Kamloops Indian Residential School

A logging truck carries its load down the Elaho Valley near in Squamish, B.C. in this file photo. THE CANADIAN PRESS/Chuck Stoody
Squamish Nation calls for old-growth logging moratorium in its territory

The nation says 44% of old-growth forests in its 6,900-square kilometre territory are protected while the rest remain at risk

Flowers and cards are left at a makeshift memorial at a monument outside the former Kamloops Indian Residential School to honour the 215 children whose remains are believed to have been discovered buried near the city in Kamloops, B.C., on Monday, May 31, 2021. THE CANADIAN PRESS/Darryl Dyck
‘Pick a Sunday:’ Indigenous leaders ask Catholics to stay home, push for apology

Indigenous leaders are calling on Catholics to stand in solidarity with residential school survivors by not attending church services

“They will never be forgotten, every child matters,” says Sioux Valley Chief Jennifer Bone in a video statement June 1. (Screen grab)
104 ‘potential graves’ detected at site of former residential school in Manitoba

Sioux Valley Dakota Nation working to identify, repatriate students buried near former Brandon residential school

The Queen Victoria statue at the B.C. legislature was splattered with what looks like red paint on Friday. (Nicole Crescenzi/News Staff)
Queen Victoria statue at B.C. legislature vandalized Friday

Statue splattered with red paint by old growth forest proponents

Most Read