Infographic: housing market prediction paints sobering image of Vancouver real estate

Canada's national housing agency, the Canada Mortgage and Housing Corporation (CMHC), released the following infographic (see it in a larger window here) which paints a sobering image of Vancouver's real estate market when compared to the rest of the country.

Take a look at the average resale price of a home in Canada ($372,400), B.C.’s provincial average ($564,800), and compare that with the average price of a Vancouver home (over $1 million since 2010). That should give you a sense of just how big a task Robertson, Olga Ilich and their affordable housing “task force” will face in the coming years.

Outlook1

The graphic also predicts that housing starts in British Columbia will be the second highest in the country with a 7.1 per cent increase in 2012.

And remember, that $1 million price tag is an average. There are tonnes of homes in the city that are way above that. Evidence:

Sfhvaluemap

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The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® 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 either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.