In Kits, sales have tanked 46%. In North Van they’re down 22% with average prices off $250,000 in the past year. In West Van last month there were 37% fewer deals struck, while listings are up 32% and prices down 11.6%.
There’s a deep, ingrained, visceral belief they’re not actually to blame for the prices of houses they sell each other. Nope, it’s evil foreigners. In BC, polls have found 80% of the locals think offshore buyers are ruining house prices, even though 95% of BC sales are among existing residents.