Here is a brief snapshot of the condo resales market since the start of 2016, shown as average price per SF broken down by sub-area/neighbourhood.
Source: MLS Data
The above chart reflects data on all MLS sales for condo units that were one year old or newer at the time of sale, and only includes neighbourhoods with sales in multiple buildings. Pricing is slightly distorted by product type; for example, all of the downtown condo product is concrete highrise which is more expensive, whereas all of Maple Ridge product is in lowrise or townhouse form that is much cheaper to build and sell. Nevertheless, some may find the average pricing stats interesting.
The market for pre-sales inventory is likely to track above the average resales in a given sub-market.
City of North Vancouver Council will be considering a draft Housing Action Plan (“HAP”) that has been prepared by CitySpaces Consulting.
The concept for the HAP was first brought forward in 2015 as a way to explore new housing policies to encourage more options and enhance affordability, with particular focus on renters, seniors and low to moderate income families.
Some of the specific policy and regulatory actions being proposed in the HAP include:
Family-Friendly Housing Policy
Density Bonus and Secured Low-End of Market Rental
Housing on the Frequent Transit Network
Rental Revitalization Tax Exemption Bylaw
Fee Simple Townhouses
Explore Repurposing Bungalows
A copy of the full report can be downloaded here.