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A New Sales Record Has Been Achieved By The Jackie Goodlet Team Who Work Out Of The Whitby Office And Specializes In High End Resale And New Home Sales. According To Broker Dave Pearce The Jackie Goodlet Team Wrote More Transactions Than Anyone Else In The 30 Year History Of Our Firm. Their 255 Transactions Had A Total Volume Of More Than $185,000,000 (185 Million). With Over 25 Years Experience In The Business The Jackie Goodlet Team Has Acquired A Wealth Of Knowledge In All Areas Of Real Estate Including Resale, New Builds, Cottages, Lease, Condos, Vacant Land, Investment And Commercial Properties. With Exceptional Negotiating Skills We Are Confident We Can Save You Time And Money On All Your Real Estate Endeavours. We Look Forward To Hearing From You And Your Referrals Are Always Welcome And Rewarded!

Thursday, January 28, 2016

Vancouver prices 11x higher than average income

Vancouver’s dynamic housing market has seen red-hot sales over the past year, but according to the latest rankings released by U.S. research firm Demographia, the median cost of a home in the bustling city lies far beyond the reach of a significant fraction of the Canadian population.

With the Median Multiple weakening from 10.6 in 2014 to 10.8 last year, the study revealed that the benchmark value for Vancouver homes is almost 11 times greater than the average national pre-tax household income, with price hikes showing no signs of stopping anytime soon.

“This represents a more than doubling from the 1st Annual Demographia International Housing Affordability Survey [12 years ago],” the study noted, as quoted by BNN News.

Financial services firm UBS stated that Vancouver is one of the cities worldwide most vulnerable to a real estate bubble. In addition, Vancouver is among the five least affordable cities in Canada (four of which are in British Columbia), and the third most expensive market in the world.

Hong Kong came on top of the UBS analysis as the most costly city in the world, with average home prices running at 19 times higher than the median household income. Meanwhile, Moncton and Saint John, New Brunswick remain the most affordable markets in Canada.

CREW

We hope you are finding our Blog informative and enjoyable to read while keeping you up to date with the ever changing real estate market.

Please feel free to contact me via Direct/Text or e-mail at any time and my team will be pleased to assist you, family members and friends with all your real estate needs. Referrals are always welcome!

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