![]() Tops was the City of Langley, which has a surfeit of attached homes and apartments. (The GDS ratio is the percentage of a household’s gross monthly income to cover all household costs.) Overall, Chilliwack ranked fifth of 30 municipalities with a median sale price over the period in question of $385,000 and a gross debt service (GDS) ratio of 27.9 per cent. “A ripple effect is being felt well into the Fraser Valley, with median sale prices … up 32 per cent in Delta, 30 per cent in Langley (township), 24 per cent in Abbotsford and 14 per cent in Chilliwack.”Īnd since the ripples of that effect are hitting Chilliwack last, it means the local prices are still the most reasonable out of an increasingly unreasonable bunch. Much has been made of the extreme house price rises in Vancouver, but the report, “Home Stretch: Comparing housing affordability in B.C.’s hottest markets”, says that people moving farther afield are driving up prices in other communities. “While pockets of affordability still exist, they are disappearing as prices in the Fraser Valley and other parts of B.C. “Buyers looking for affordable housing options used to be able to look to municipalities around Vancouver to find affordable options,” said Ryan McKinley, Vancity’s senior mortgage development manager.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |