Tuesday, June 20, 2006

Hot, Hot, Hot. That Is How I Describe The Surrey Real Estate Market

Hot, hot, hot. That is how I describe the Surrey real estate market. In the first 5 months of 2006 Surrey has had 2,191 housing starts. This is the most of any city in British Columbia, and there is no slow down in sight. With the average price of a home in the greater Vancouver area over $500,000 (though the City of Vancouver has 350 homes listed at over 1 million), that equates to over 1 Billion in housing starts. Admitted my calculations are a bit crude.

Northern B.C. is also seeing a rise in the real estate market. Data is out for the first 5 months of 2006 and the top 70% of the province is thriving. Average prices in Prince George are up over $40,000.

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