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Financing Vancouver Homes Almost Unaffordable

on 24 February 2016
Financing Vancouver Homes

January has been full of ups and downs especially when it comes to financing Vancouver homes, this intimidating market is seeming near impossible to tackle without professional guidance . The stock market has been a roller coaster. The dollar has been dropping with no end in sight and oil prices are well, anyone’s guess. Japan is now in a negative interest rate environment. Home prices continue to rise in Vancouver as listings are becoming scarce. In fact, Canada has found itself on another top-10 list of high real estate prices.

According to Demographic (, Vancouver has been ranked as the third least affordable city with Hong Kong and Sydney at first and second place. With Vancouver being ranked as the third least affordable city, reaching out for professional assistance and advice may develop into a neccesity for all when financing Vancouver homes. Comparing median house prices and median wages to determine affordability, the study points out that the restriction of land use is a big contributor to the lack of affordability.

Toronto did not make it into the top-10 however it does rank as the third least affordable market in Canada. There are signs that this may be changing. Colliers International figures show that in the first three quarters of 2015 sales of rose from 29 to 35 percent for residential land for townhomes and single family dwellings as compared to the same period last year. Please contact our team to assist you, wherever we can.

Dreyer Group Vancouver will help you finance your home, rising prices and the lack of affordability are on the minds of Vancouverites around the city!

Please contact our team, we're here to help! 604 669-6006