Vancouver’s top neighbourhoods

While not cheap, these are great options in a crazy market

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by

From the April 2016 issue of the magazine.

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best deals in real estate 2016

Vanier Park, Kitsilano, Vancouver (Michael Wheatley /Getty Images)

Lotusland truly is blooming. Despite news headlines decrying questionable sales tactics among agents and the possible impact of foreign investors, Vancouver’s real estate market remains hot, hot, hot—and continues to break price and sales records. Still, with warnings that this market may be overvalued, many people are concerned about the possibility of losing money when buying into this West Coast market.

The best way to mitigate the impact of a possible future price correction? Narrow your search to good-value neighbourhoods where prices haven’t quite hit the stratosphere. Bear in mind that value isn’t a synonym for cheap—it’s relative to the market you’re shopping in.

After analyzing more than 200 neighbourhoods, we found several communities that offer a chance for future appreciation, all of which have average prices above $1 million. In ­­Ambleside in West Vancouver—our top neighbourhood—a single detached home sold for an average of $2.25 million last year. Even at these prices, homes are still about 14% cheaper, on average, compared to surrounding communities. Moreover, these top neighbourhoods boast a 68% average five-year return—compared to the city’s 51% return for the same time period. While not cheap, our top picks are great options in a crazy market. See the full rankings below.    

Photo gallery: Top 25 Vancouver neighbourhoods »

Vancouver at a glance…

CITY TOP 25
Average Neighbourhood Price $1,416,261 $1,145,244
Min $422,400 $673,900
Max $5,814,500 $2,249,300
Below $500K 10% 8%
Average 1-Year Return 26% 30%
Average 5-Year Return 51% 62%
Average Realtor Grade (Out Of 5) ★★★½ ★★★★

Top 5 neighbourhoods

 

Realtors’ bet

Walnut Grove, Langley

Langley has long been considered Vancouver’s burbs, but in the last decade the city has grown up. Beautiful new community centres and large new-build homes are attracting more families. In Walnut Grove, just north of Hwy 1, a 3,000-sq-ft home will fetch $1 million or more. But you can buy a house half that size for half the price, making it a relatively affordable option.

Top 25 neighbourhoods

*NR=Not rated

  • Rank Neighbourhood Area Average price Value Average price vs. area Average price vs. metro district Average price vs. greater city area Momentum 1-year price change 5-year price change Realtor grade
    1 Ambleside West Vancouver $2,249,300   81.6% 174.1% 229.3%   26.99% 75.1% ★★★★½
    2 Brentwood Park Burnaby $1,250,000   97.1% 96.7% 127.4%   32.47% 66.5% ★★★★½
    3 Hastings Vancouver East $1,036,500   82.7% 80.2% 105.7%   28.98% 67.5% ★★★½
    4 New Horizons Coquitlam $755,100   75.5% 58.4% 77.0%   29.56% 57.5% ★★★½
    5 Renfrew VE Vancouver East $1,145,000   91.3% 88.6% 116.7%   29.57% 73.1% ★★★½
    6 Vancouver Heights Burnaby $1,249,800   97.1% 96.7% 127.4%   29.80% 69.4% ★★★★
    7 Victoria VE Vancouver East $1,149,100   91.7% 88.9% 117.1%   29.33% 69.5% ★★★★
    8 Mount Pleasant VE Vancouver East $1,099,800   87.7% 85.1% 112.1%   27.66% 60.6% ★★★★
    9 Ladner Elementary Ladner $811,500   93.4% 62.8% 82.7%   32.49% 53.8% ★★★★
    10 Sapperton New Westminster $793,800   88.3% 61.4% 80.9%   36.63% 54.7% ★★★½
    11 Grandview VE Vancouver East $1,274,000   101.6% 98.6% 129.9%   31.29% 78.7% ★★★★
    12 Port Guichon Ladner $837,600   96.4% 64.8% 85.4%   37.79% 64.9% ★★★½
    13 Lynn Valley North Vancouver $1,241,800   90.2% 96.1% 126.6%   31.64% 59.2% ★★★★
    14 East Burnaby Burnaby $955,800   74.2% 74.0% 97.4%   34.15% 56.0% ★★★
    15 Capitol Hill BN Burnaby $1,239,500   96.3% 95.9% 75.0%   31.22% 68.5% ★★★★
    16 Port Moody Centre Port Moody $871,300   76.2% 67.4% 88.8%   24.77% 54.3% ★★★★
    17 Edmonds BE Burnaby $986,500   76.6% 76.3% 100.6%   30.16% 55.4% ★★★½
    18 Hockaday Coquitlam $1,098,800   109.9% 85.0% 71.2%   34.72% 57.3% ★★★★½
    19 Steveston North Richmond $1,066,400   79.8% 82.5% 73.7%   28.28% 47.5% ★★★★
    20 Gleneagles West Vancouver $2,042,300   74.1% 158.1% 208.2%   28.66% 69.9% ★★★
    21 Westlynn North Vancouver $1,148,000   83.4% 88.8% 117.0%   31.29% 60.4% ★★★
    22 Lincoln Park PQ Port Coquitlam $673,900   89.0% 52.2% 68.7%   30.07% 48.6% ★★★★
    23 Eagle Ridge CQ Coquitlam $774,500   77.4% 59.9% 79.0%   25.53% 49.6% ★★★★
    24 Renfrew Heights Vancouver East $1,161,100   92.6% 89.9% 118.4%   27.05% 69.2% ★★★½
    25 Eagle Harbour West Vancouver $1,719,700   62.4% 133.1% 175.3%   25.95% 67.5% ★★★½

Click here to see the full rankings for all 200+ Vancouver neighbourhoods.

SOURCES: Greater Vancouver Real Estate Board; Fraser Valley Real Estate Board; Re/Max

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