Almost three-quarters of the single, detached homes in Metro Vancouver are now assessed at $1 million or higher, a 50-per-cent increase from 2014. And the “million-dollar line” has spread deep into the suburbs.
“(What used to be) the top crust of residential real estate in Metropolitan Vancouver has now become the whole loaf,” said Andy Yan, director of the City Program at Simon Fraser University.
Yan analyzed data from B.C. Assessment for 2018 and found 73 per cent of single-family homes in the region now top $1 million, including over 99 per cent of the homes in Vancouver, West Vancouver, the City of North Vancouver and the University Endowment Lands.
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