VANCOUVER (Xinhua) – The price to own a house in Canada’s most liveable city of Vancouver has climbed again to a new high, drawing varying responses from people in different walks of life.
According to annual assessment report published recently by the Property Assessment Office of British Columbia (BC) in west Canada, the average value in the latest assessment for single-family detached houses increased 11 per cent year-over-year in the City of Vancouver.
Of the 100 most expensive BC residential properties, 95 are located either in the City of Vancouver or in the ritzy district of West Vancouver, the report indicated
A typical detached home on a 15-metre-wide lot on Vancouver’s pricy west side was valued at 1.8 million Canadian dollars (1.5 million US dollars) in the assessment – a 12.5 per cent increase from last year. On the city’s working class east side, a typical detached home was valued at 993,000 Canadian dollars (837,000 US dollars) – an 11.3 per cent gain over 2013.
On the impact of rising home prices on ordinary residents in the city, Dan Scarrow, manager of Macdonald Real Estate Group, said most people would agree that it was a good thing.