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Bowen Island/Gulf Islands - help please?
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07-07-2014, 09:29 AM,
(This post was last modified: 07-07-2014, 09:32 AM by Skook.)
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RE: Bowen Island/Gulf Islands - help please?
June 2014 Bowen Island Benchmark Data:
This post combines Bowen Island’s Benchmark Price data for May and June. The Benchmark began its rise in April as the spring selling season got underway; that month the “Drop from Peak” price moved from -11% to -8.6% as the Benchmark increased by $14,800. The pattern continued in May when the Benchmark price rose from $571,500 to $583,900 (↑ $12,400) and the “Drop from Peak” edged up to -6.7%. June’s figures are showing a levelling off with the Benchmark price increasing by only $2,800 to $586,700 and “Drop from Peak” rising slightly to -6.2%. According to the Real Estate Boards, the Benchmark price is the best tool for indicating trends in the market and, if so, then June’s data likely indicates the selling season for 2014 is coming to an end and with it those dirt cheap mortgage rates. Rumour has it the banks are getting worried, are tightening the screws and aren't quite as free and easy with their money these days. Jimmy’s indicated a high inventory on BI, so if the market is starting to slow then prices could begin to drop once again. Maybe we've been witnessing a dead cat bounce? |
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