Home and Condo sales battle map

VMD has been busy over at the new Vancouver Peak Forum uploading new Battle of Vancouver maps.

These maps show the increase or decline in year-over-year REBGV home price index (The Benchmark or HPI).

There are maps for both the condo market and for single family homes in the lower mainland, along with a few historical maps for comparison.

Here’s the map for SFH, showing big changes in South Surrey and UBC:

Battle_of_GV_SFH_2012_12_arrow

And here’s the map for Condos, which looks similar but the big changes are in South Surrey but Bull forces are firmly entrenched in Guilford and Pitt Meadows.

Battle_of_GV_Condo_2012_12

 

Here’s the original discussion thread for the Condo map and for the SFH map.

You can find more great creations and analysis from VMD over at greaterfoolvancouver.

74 Responses to “Home and Condo sales battle map”

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    Thanks Pope! Just to make sure, blue tanks are the “good guys”!

    From October to December, the following areas have been “liberated” to becoming HPI YoY-Negative territories:

    
    

    SFH: West Van, North Van, South Surrey & White Rock, New West, Burnaby N&E, Tsawwassen. (Van East and Burnaby S are imminently becoming YoY Negative, making the entire area West of Coquitlam and North of Delta a sea of blue.)

    
    

    Condo: Van West. (North Van and possibly Van East may turn YoY Neg very soon, leaving the only YoY Positive areas being Burnaby E and the outlying Port Moody, N Surrey, Pitt Meadows & Langley)

    Well-loved. Like or Dislike: Thumb up 45 Thumb down 1

    Many Franks Says:
    2

    Further clarification in who’s at the bottom of the pecking order from the Vancouver Sun: Single-family homes still winners in property price race.

    We have it from other media that Everybody But Vancouver Will Be Fine, Perhaps Excluding Toronto Condos Also. This article clarifies that Vancouver SFH Is Fine Too, It’s Just Vancouver Condos That Suck.

    For those of you holding your breath, here’s the big reveal:

    “The resource that is scarce is land,” said Tsur Somerville, director of the centre for urban economics and real estate, Sauder School of Business at the University of B.C. “You can always build more condominiums, but if you want a backyard, there’s a limited space.”

    Spectacular research, Dr. S.

    Again, heavy use of 5-year changes in valuation, as if flat 5-year pricing represents a triumphant ROI and all that year-over-year stuff he used to quote was just noise.

    Well-loved. Like or Dislike: Thumb up 40 Thumb down 0

    UBC in Crisis Mode Says:
    3

    Good work, VMD.

    I hope CBC and Globe and Mail can use them.

    Hot debate. What do you think? Thumb up 14 Thumb down 1

    patriotz patriotz Says:
    4

    “The resource that is scarce is land,” said Tsur Somerville

    Scarcity of something is measured by how much it costs to use. For example, Sidney Crosby gets paid a lot of money because people like him are really scarce.

    Does it cost more to use (i.e. rent) land in Vancouver than in other big Canadian cities?

    Yes in the future the value of use of the land may increase, but there’s no credible scenario where the present value of future use justifies today’s price. Tsur teaches a course which deals with this, so he knows this as well as anyone else.

    Well-loved. Like or Dislike: Thumb up 40 Thumb down 1

    /dev/null Says:
    5

    This looks like it’s only for Toronto at the moment, but it’s an interesting (and potentially disruptive?) business model. They provide detailed listings and neighbourhood information and sales staff (“Angels” heh) that are not commissioned. Staff are paid based on customer satisfaction bonuses and you get 25% rebate on the realtor commission. Too bad there’s still a traditional realtor on the seller’s end, skimming off the big commission. Is this similar to some of the outfits in the US?

    http://www.theglobeandmail.com/report-on-business/small-business/starting-out/buying-a-home-brokerage-offers-more-listings-than-mls-with-no-commission/article6995343/

    Mr. Hamidi teamed up with two other technologists and one realtor to found TheRedPin.com, a brokerage with a business model that they hope will turn the market on its ear: a customer-service oriented, web-friendly firm where agents aren’t commissioned, but rather salaried and given bonuses for customer satisfaction.

    Like or Dislike: Thumb up 5 Thumb down 0

    Many Franks Says:
    6

    @Patriotz: Don’t take this the wrong way, but I’m starting to doubt your faith in Somerville’s media persona.

    Hot debate. What do you think? Thumb up 16 Thumb down 0