(Source: The Vancouver Sun)
Metro Vancouver’s cheap-mortgage-fuelled real estate market has overshot its previous peak for prices with indications it will keep going, albeit more slowly, before cooling with the rise in interest rates.
February saw the average property price hit $662,741 in the area of Metro Vancouver within the Real Estate Board of Greater Vancouver. (The board does not cover Surrey, Langley or White Rock.)
That is well above the previous $624,639 peak price, which the region saw in May 2008.
Read the full article, “Average price of Metro Vancouver home now almost $663,000, above pre-recession levels” in the Vancouver Sun (April 1 2010).