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2015 Bowen Island/Gulf Islands Sales Stats
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12-05-2015, 09:27 AM,
(This post was last modified: 12-05-2015, 09:30 AM by JimmyWW.)
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RE: 2015 Bowen Island/Gulf Islands Sales Stats
(12-04-2015, 10:18 AM)Skook Wrote: November 2015 BI Sales Stats Hey Skook, My read is it's the absence of suitable inventory. The lowest-priced home on the island has just dropped its price by $25000 to $425000. Worthy of note is that the lowest priced property a year ago was $250,000 - ominous for those of us seeking to buy? I therefore predict, and God and Skook know I've been wrong before, that we will see no sales in December and few in January. Some of the cruddier rental properties on the island have even sold, and there is a real "renter's crisis" now, with folks who have rented on-island for >5 years unable to find any affordable accommodation. My contacts here in TO are telling me CMHC is going to mandate 10% down minimum for all properties below $1m as well. Be interesting to see if that, plus this month's rumoured collapses in HK and Australia, have any effect on the property market in YVR and area. I stick by what I've said for years, though - no moderation by 2016 means we are stuck with this level of price for a very long time. Jimmy Prospective 2016 buyers might also be concerned that 1 in 4 of the properties currently listed on the island is in the >$1m bracket... yikes... |
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