In Saturday’s column, I wrote about a study of Vancouver real estate prices by Andy Yan, an urban planner with Bing Thom Architects and an adjunct professor with the University of B.C.’s School of Community and Regional Planning.
In the study, Yan plotted the worth of all homes in neighbour-hoods zoned single-family residential – or RS, in planning par-lance. He plotted those homes assessed at over $1 million.
The study was an update of a similar one he had done in 2011, and Yan did the update to see what change there had been in the number of million-dollar homes.
He found a radical change.
In a single year, the number of million-dollar homes had increased by 10 per cent. More than half the single-family homes in Vancouver were now assessed at over $1 mil-lion. All homes had increased in value by at least $55,000 (out-stripping Vancouver’s median family income of $53,000) and 80 per cent of the homes had increased in assessed value by over $100,000.
Vancouver’s Lofty Real Estate Prices and Unspoken Race Issue
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