Market IntelligenceEconomy

Multi-family Pre-Sales Pricing Update - Q4 2018

 

Nov 30, 2018

Written by 

Ryan Berlin

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Data highlights

  • Pre-sale projects in Greater Vancouver that have launched in 2018 (through October) have sold at an average PPSF of $854, 3.3% above the 2017 year-end average of $827.
  • The highest average PPSF achieved into October 2018 was in Downtown Vancouver, at $3,065 (up slightly from $3,037 in Q3 2018), while lowest was in Abbotsford at $431.
  • Versus Q3 2018, the regional average PPSF has risen 0.7%
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https://cdn.rennie.com/images/images/002/313/959/original/PPSF_MAP.jpg

What this means for youA value premium exists for more accessible homes, including those located near Vancouver's downtown core and along frequent transit corridors. Good relative value continues to prevail in neighbourhoods south of the Fraser River and in the region's northeast sector.

https://cdn.rennie.com/images/images/002/313/960/original/PPSF_Chart.jpg

Each quarter, rennie intelligence provides a Multi-family Pricing Update based on the latest data sourced from Urban Analytics' NHS Live database. The data presented are price per square foot (PPSF) averages for concrete, woodframe, and townhomes combined, based on the date of each project's first home sale.Our rennie intelligence division empowers individuals, organizations, and institutions with data-driven market insight and analysis. Experts in urban land economics, community planning, shifting demographics, and real estate trends, their strategic research supports a comprehensive advisory service offering and forms the basis of frequent reports and public presentations. Their thoughtful and objective approach truly embodies the core values of rennie.

Written by

Ryan Berlin

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Disclaimer: This representation is based in whole or in part on data generated by the Chilliwack & District Real Estate Board, Fraser Valley Real Estate Board or Real Estate Board of Greater Vancouver which assumes no responsibility for its accuracy.

Disclaimer: This is not an offering for sale. Any such offering can only be made by way of disclosure statement. E&OE. The developer reserves the right to make changes and modifications to the information herein without prior notice. Photos and renderings are representational only and may not be accurate.