Neighbourhood Trend Report: the Brentwood District

The Brentwood District in Burnaby, located just minutes from downtown Vancouver, is quickly becoming the destination of choice for home buyers interested in both the value and lifestyle found just past Boundary Road. 

I’ve known and loved this community for some time. I’ve proudly been voted “#1 Realtor” in Burnaby for five consecutive years, I went to Burnaby South Secondary (go Rebels!) and I lead the sales team at the Amazing Brentwood, a major master-planned community changing the face of the Brentwood District where we’ve sold nearly 1,400 luxury high-rise homes in the past 18 months. I’ve been eagerly watching changes take place in the city over the last few years, and it’s getting exciting!

Buyers are increasingly valuing what the city has to offer: an easy commute to Vancouver using well-connected rapid transit on both the Millennium and Expo lines, vibrant communities and demographically diverse neighbourhoods, tremendous lifestyle and leisure options and a quickly evolving retail and entertainment landscape. 

Maclean’s magazine described the City of Burnaby as “a model for the Country” and named Burnaby the Best Run City in Canada in 2009, citing its status as a well-managed, debt-free city offering superior public services.

Burnaby’s forward-thinking Sustainable City initiative "focuses on creating a sound policy direction for Burnaby’s future. It provides a foundation for the City’s overall well-being, continued strength and growth as a livable, vibrant community. Our Sustainable City is a place that facilities an engaged and active citizenry, a healthy economy and a strong respect for the natural environment.”

Burnaby offers a complete community for the arts, sports and nature lover too, with Deer Lake Park, SFU, numerous nature and urban trails and world-class sports facilities there’s something for every active lifestyle. And the community is rounded out with a thriving arts scene, a number of popular community centres, a bustling farmers market and many festivals and concerts throughout the year.

Burnaby, by the numbers:

  • Burnaby occupies about 4% of the land area of Metro Vancouver but accounts for 10% of the region’s population.
  • Burnaby School District 41 includes 41 elementary schools and 8 secondary schools with a total enrolment of 24,000 students. The City also has two post-secondary institutions, Simon Fraser University and British Columbia Institute of Technology.
  • Population: 223,000

Increasingly, luxurious high density developments are making a major impact in the community and helping to lead the evolution of new lifestyle options. Numerous high profile property developers are changing the shape of the city, both along rapid transit lines in new master planned “Energy Centres” of clustered high density housing, shopping and entertainment complexes and beyond. These include a number of major developments in the Brentwood District, the area between the Holdom and Gilmore skytrain stops, featuring several great buys in the neighbourhood. If you're interested in getting to know more about upcoming neighbourhood developments, pelase let me know and I will be more than happy to assist you in investing into this rapidly changing area.

Around and beyond transit centres, we are seeing high levels of demand for single family detached homes, particularly in the Brentwood District and in the $1,500,000 - $2,000,000 range. With prices still remaining a smart value compared to homes just across the Vancouver city boundary, we are seeing competitive multiple offer situations and consistent interest from buyers. While laneway housing has yet to be approved in the city, with a hot rental market in the area supported by a number of factors including student demand at SFU and BCIT, many homes detonated for rentals or with “mortgage helper” suites or conversion possibilities see opportunity to generate income as well.

Continuing to reflect trends in the area and supporting the idea that any home within a 30 minute drive to Vancouver can expect the largest lifts in value, recent BC Assessments show typical detached homes in Burnaby experiencing a 15 - 25% increase in value over the previous assessments. Off of paper increases can be higher, particularly in select areas such as ritzy Government Road and Buckingham Heights neighbourhoods. High demand and low availability are continuing to skyrocketing values while buyers see the benefits of a short commute and community features.

If you’re thinking of Burnaby, now is a good time to take a closer look! Get a live snapshot of listed MLS properties currently in the Brentwood District area: just copy & paste the link below. Or better yet give me a call! Let me know what you’re looking for and I can help you find the right home for living or investing.

 

http://rennie.com/en/search-results/#?listingTypes=projects,mls,rennie_exclusive&dwellingTypes=House,Condo,Townhouse&priceMin=0&priceMax=50000000&bedsMin=-1&bathsMin=-1&squareFootageMin=0&advisorIds=&query=&sortColumn=created_at&sortDirection=desc&zoom=16&location=Brentwood%20Town%20Centre%20Station,%20Burnaby,%20BC,%20Canada&displayType=map&active_and_sold_only&lat=49.266408291202744&long=-123.0017618&latMax=49.270468718301366&longMax=-122.98802888984375&latMin=49.262347529928654&longMin=-123.01549471015625