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Blog by Patricia Houlihan - Personal Real Estate Corporation

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Waterfront in Vancouver still going up-of course

Hard to believe but true-the benchmark price continues to rise and it seems waterfront always increases at a greater percentage than other properties...

While the number of unsold homes in the lower mainland has increased, this has not yet affected the benchmark price.  Apparently the benchmark price increase in Vancouver from May 2006-May 2007 increased by 19.1% according to the Real Estate Board of Greater Vancouver.  Shocking really! It seemed this year might lead to lower prices but maybe not.  Squamish beat Vancouver with a benchmark price increase of 21.8% but Vancouver west was in second with the 19% increase.  Surprisingly, apparently east Vancouver's increase was only 8.8%....While the numbers for waterfront are not available, the overall North Vancouver increase was 13.1% and for West Vancouver the increase was 16.6%....hmmm-can it keep going? It seems it can.