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Downtown Vancouver most expensive in North America

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Congratulations Vancouver!

I wondered aloud on the previous post whether Vancouver had taken the crown of ‘least affordable’ in North America yet – Well I don’t know about the GVRD, but according to Century 21 our downtown peninsula now has the most expensive real estate of all downtown neighborhoods in North America.

Not only are we number one in North America according to this report, we’ve got the fourth most expensive downtown core in the world! Coming in at $577 per square foot Vancouver ranks only behind Paris, Moscow and Seol for the most expensive downtown real estate on the planet. We’ve got London beat and those sad little towns of Tokyo and New York City only come in as number 9 & 8 on the most expensive cities list.

Can we do better? Is there any reason that our thriving metropolis shouldn’t be number one on that list?

Here’s the story in the Calgary Sun and here’s a bullish version of the story on news blaze.

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uptrend

"OT – wow, chipman's site is just bad… okay, okay, I've known this for some time but I keep going back to check the numbers & then I have to read some of what is being posted and I can't stand his stuff – his spin, his attitude with posters, whoa ego! the cheap shots he's been taking at VHB. The latest post by his sidekick is insulting pap."mk-kids,well said,I was an occasional reader but now I have deleted him from my favorites list,too much pompous self serving BS. I get the feel he knows full well the top is in and is now shifting his topics to some sort of real estate religious ranting painting the "real estate agent is a good guy who gets screwed alot" angle instead of the reality of a changing market to the downside.Just… Read more »

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the pope

Could somebody else start posting numbers so those of us interested don't have to go to his site anymore?That somebody would have to be a realtor to have access to the numbers, and I agree – the GVRD and FV numbers would be great to have. I'd be very happy to post them if Jeff or another realtor is into providing a steady flow of them.They don't need to be daily, even weekly numbers would be interesting to watch. I'd be happy to add anyone who has those numbers as a poster to this blog.Jeff? Paul? I know you guys are out there. Whattya say?

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Jim

Chipman is an investor /owner so he needs to promote the "upside" to real estate. He just went over the top after the Vancouver Sun asked him for a quote. Which they did not publish by the way. I am redirecting traffic here.

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BloatCity

"WTF said… I'm a single male, I make $65 000 per year. I have $50 000 for a down payment. I cannot afford anything in this city within a 20 min transit distance to downtown that I would be proud of. This city is a joke. How much are these mountain$ worth?"I'm in the same boat – just slightly above you in annual income & downpayment amount, actually … but there's absolutely no way I'd be even considering buying anything at this point – Olympics/world-class city or not. 2009 or bust … keep holdin' out!PS: I actually find 'satv's broken-English gloating replies to over whatever fluke investment he made quite entertaining!

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satv

Jeff said… I am a Realtor and I can't sell Yaletown at higher prices anymore. Lower from here most likely. 6/6/07 2:39 PM no problem take some vocation, come back again refresh your self.then start from there till that time long live craiglist.

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mohican

jeff – if you are up for it, I will add you as a poster on my blog (Langley Financial Planning) and you could post daily numbers there. Or perhaps the pope could sponsor you?freako – i agree – the chipman area is like a political party dividing up the election boundaries – he excludes areas with explosive inventory growth that makes his case weaker.Separated numbers for GV and FV would be best.

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satv

An English tutorial for satv – that should read: come late, come correction, but correction still will come. 6/6/07 9:11 AM you mean correction at $1100 per sqf in 2009.

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freako

"Could somebody else start posting numbers so those of us interested don't have to go to his site anymore? "On that topic I would like "cleaner" numbers using tables and without the sentences. Also, for apples to apples, no more "Chipman area". Instead:GVFVCombinedPossibly also breakdown by area and type.From what I recall, Chipman downloads them to a spreadsheet, so it should be a breeze to post them semi-automatically.Jeff, since you are a realtor, how about it?

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Jeff

I am a Realtor and I can't sell Yaletown at higher prices anymore. Lower from here most likely.

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beta

Aaron’s a kid who’s never known a down market. but he will.

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/dev/null

mk-kids said: Could somebody else start posting numbers so those of us interested don’t have to go to his site anymore?

That would be great, since reading his site makes me depressed and tempted to capitulate and buy before this eternal bull market passes me by forever.

But would “somebody else” have to be a realtor? Or are there any public sources of detailed data? I had considered scraping the MLS website to get numbers of listings and histogram price ranges but that data isn’t updated as frequently (and it’s against the site’s terms-of-use).

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Jim

mk-kids. Yup. The Aaron post finally did me in.

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mk-kids

OT – wow, chipman's site is just bad… okay, okay, I've known this for some time but I keep going back to check the numbers & then I have to read some of what is being posted and I can't stand his stuff – his spin, his attitude with posters, whoa ego! the cheap shots he's been taking at VHB. The latest post by his sidekick is insulting pap.Could somebody else start posting numbers so those of us interested don't have to go to his site anymore?

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mk-kids

jeff – what makes you say that? anecdote? source?

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solipsist

"congratulations solipsist come late come correct."Try running "sarcasm" through babelfish.An English tutorial for satv – that should read: come late, come correction, but correction still will come.

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Warren

Wasn't there a recent survey on the same topic, and it was rendered irrelevant by reasons already given here, such as Nassau being the Manhattan equivalent of Yaletown, which is BS.Vancouver's overpriced, but I was in London last year and there's no way we're higher than them, for good reason.This reminds me of the "Vancouver is the #1 city in the world" surveys. Methodology is everything, and as with those, this one is crap.

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satv

solipsist said… I've been so wrongcongratulations solipsist come late come correct.

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satv

WTF said… I'm a single male, I make $65 000 per year. I have $50 000 for a down payment. I cannot afford anything in this city within a 20 min transit distance to downtown that I would be proud of. This city is a joke. How much are these mountain$ worth? 6/5/07 5:52 PM just 5 minute drive you can easly afford east vancouver from 600-750 sqf you just need a information.

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satv

Real estute said… Way to go Vancouver! Glad I don't live there. 6/5/07 12:02 PM you are definitely missing the squible art.

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Ulsterman

JMK is correct, the survey is flawed. The Vancouver location is 5 minutes from downtown right smack in Yaletown – one of the city's top 3 locations price-wise. Try finding a place in London 5 mins from the City/Square Mile for $577/sqft. Not likely.The "comparison" using a 45min commute to Nassau County for Manhattan just makes a mockery of the entire survey. Well spotted JMK

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satv

vancouver can easly take over paris next year.577 is average but if you look at the price of coal harbour and all other water front locations its extremly so high.some units over there selling or sold for 3 to 5 millions.those units are around 900-1150 sqf.and the heart of down town is selling at the price of 750.I don't know who is calculating 577 and how.

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satv

basic rate of pay in usa,canada,and in england are same when we convert $ and pounds.

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Jeff

Yaletown is now correcting.

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WTF

I'm a single male, I make $65 000 per year. I have $50 000 for a down payment. I cannot afford anything in this city within a 20 min transit distance to downtown that I would be proud of. This city is a joke. How much are these mountain$ worth?

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solipsist

I've been so wrong. Vancouver was under-priced, and I think that maybe it still is. I'm buying quick – before I really am priced out forever.I saw a really nice fixer-upper over on Hawks St., and it's only $689K. See ya later suckers! I'm all in.

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