Vancouver Detached Homes Continue Decade Long Price Climb

Despite minor movements in price growth for single family homes in the City of Vancouver, there has been steady annualized growth of 12.6% since 2001. For example, while 2009 saw a decline in sales activity and prices dropping by approximately 4%, prices are now back up well above their previous 2008 peaks.

The average price of a detached single family home in the City of Vancouver has risen from $712,235 in 2001 to $2,336,634 as of July 2011.

Is this growth sustainable despite being inexorably unlinked to traditional metrics such as income and population growth?

Source: MLS