Your eyes aren’t deceiving you, the title is correct. The average home price in Vancouver is now at a crisp million dollars. This explains the rapid gentrification of East Van where homes now routinely cost $700,000 to $800,000. This also reiterates why we need to densify along transit nodes and other neighbourhoods and not just the downtown core anymore. Density can be achieved without large towers as well, so don’t get scared NIMBY’s.
With the metro population set to double in the next 29 years, living in Vancouver will become even that much more of a premium. No wonder people are settling for a home in the Valley. However, the valley lifestyle isn’t for me.
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