Well the REBGV numbers are out:
HPI - August $795,076 Detached
HPI- September $790,992 Detached
Attached is flat and apartments are up a tad, but detached is down nicely.
I would say prices are flat at best and that many areas have MOI which are in the double digits and are waiting for more seller anxiety to bring on price reductions.
MOI= 7
Lets see what Fraser Valley, OK and Victoria bring.
...................................................................................
Fraser Valley Numbers Benchmark prices
Detached- down 0.5% fom August 2010. 3.3% higher than Septmeber 2009
Attached- down 0.8% from August 2010. 3.2% higher than September 2009.
Apartment- unchanged from August 2010. Down 0.3% from September 2009.
MOI = 9.5
The three year HPI for the following areas are negative (detached):
ReplyDeleteWest Van -1.4%
Port Coquitlam -1.7% (which is also down YOY)
Squamish -9.2%! and -3.5% YOY
Sunshine Coast -7%
Maple Ridge -0.3%
Port Moody -4.2%
Anyone who has bought in these areas three years ago has probably lost equity.
One thing that jumped out at me with the North Van numbers is that Attached benchmark price is UP 4.1% over August!?! What the hell? I find that kinda shocking.
ReplyDeleteAnon- attached is a very unusual animal. The sales volume is low, so it is easily skewed up or down.
ReplyDeleteYou have some attached that are priced between detached and apartments and others like those in Coal Harbour that are into the Millions.
I tend to ignore attached.
More to the point- detached in North Van
August $879,515
September 875,836
they have captured many of the outlying lands they have captured some of the closer hills we must stop them at the moat least they start ramming our gates
ReplyDeleteFish, getting excited at such a small decline is clearly sign of desperation rather than good judgement. Come on, we are down 0.5% after a run uo of 250% in the last 10 years. You gotta be kidding. Let us know when prices crash by 50% then maybe is time to start looking.
ReplyDeleteHey, when you get hit over the head month after month- it feels good just to not get clobbered one month.
ReplyDeleteLet us enjoy our moment and we promise not to crow as much if we end up driving the bus :0)
Some Anonymous poster said:
ReplyDelete"we are down 0.5% after a run uo of 250% in the last 10 years"
Where are we up 250% anywhere in BC in the last 10 years? Provide stats for this figure.
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