Where to buy Central Vancouver real estate in 2017 - MoneySense

Top Central Vancouver neighbourhoods

Here’s where to find value in Lotusland’s overheated market

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Vancouver’s top five neighbourhoods to buy

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1. Port Moody Centre, Port Moody      

The 2016 opening of the Port Moody Centre Skytrain breathed new life into this once-forgotten neighbourhood—and it shows. Now there’s a little bit of everything. Church groups are investing in affordable housing, while developers are capitalizing on under-developed land. This translates into transit-accessible family-friendly housing that offers more space and land than Metro Vancouver homes at around the same average selling price. “There’s a great Rocky Point Park with great access to the inlet,” says Garrett Wong of Re/Max Metro. “It’s still undergoing major redevelopment but in 10 years it will look and feel quite a bit different.” As such, Wong considers this area one of the best neighbourhoods for future housing price appreciation.

2. Glenayre, Port Moody       

If you want privacy and a family neighbourhood away from hustle and bustle you’ll be interested in Port Moody’s Glenayre community. “It’s a great location,” says Gord Allan, realtor with Re/Max All Points Realty. “It’s a small community that has no through-roads. That makes walking to local schools and parks a treat.” Glenayre also gets points for being close to rapid transit, while prices are kept lower than surrounding areas due to the older housing stock. “Most homes are 40 years or older,” says Allan, “so homeowners are slowly knocking them down and building new homes.”

Photo gallery: Top 25 Central Vancouver neighbourhoods

3. River Springs, Coquitlam     

When looking for a more affordable neighbourhood north of the Fraser River, River Springs checks the box. “There are smaller homes here on smaller lots,” says Allan, and the area is “slowly being redeveloped.” You won’t find large projects here, though. “It’s mainly smaller builders and homeowners who want a good neighbourhood that is close to rapid transit and within walking distance to Coquitlam Centre, where all the shopping is located.”

4. Edmonds, Burnaby      

Of all the areas in Burnaby, Edmonds is the most competitively priced neighbourhood, says Jessica Prasad, realtor with Re/Max Sabre Realty Group. “It’s a walkable area that’s growing,” says Prasad. It’s been slower to grow than surrounding communities because it takes a bit longer—20 minutes—to walk to the Skytrain or to surrounding amenities and stores. “Other areas are certainly better serviced, but buyers definitely get more bang for their buck when buying the 20-plus year (old) homes in Edmunds.”

5. Meadowbrook, Coquitlam  

Meadowbrook is a great first-time buyer neighbourhood, but only if you don’t mind a bit of “rough” in your community. “The lots are too small for developers to take an interest,” says Prasad, and this has kept selling prices more reasonable. The neighbourhood is within walking distance to Coquitlam Centre, so shopping and amenities are close by, but buyers need to be prepared to buy 30-year-old or older homes. “It’s a spot to buy good project homes,” says Prasad.

Realtor pick: Steveston Village, Richmond

On the southern tip of Richmond, a city just south of Vancouver, sits Steveston Village. Situated on the mouth of the Fraser River, this community boasts a long fishing history but this hasn’t scored it points with most buyers—until recently. Part of the problem is that a Steveston Village homeowner has to cross the entire span of Richmond just to get access to a major highway—no small feat in rush hour traffic. Then there’s the stock of homes. While built on lots that are larger than what you’d find in Metro Vancouver, many homes are original, which means they haven’t been torn down to make way for monster homes. Still, realtors know that for buyers looking to stay within the outer parameter of Metro Vancouver, Steveston Village offers an affordable, attractive option.

Where they land on a map

Tap or click to see where to find the top five Vancouver neighbourhoods and this year’s Realtor pick.

Realtor pick

Where to buy Vancouver real estate

Top 25 Vancouver neighbourhoods ranked

Click here to see the full ranking of Vancouver neighbourhoods.

  • Rank Neighbourhood Area Average price Average price vs. area Average price vs. metro district Average price vs. greater city area Value 1-year price change 3-year price change 5-year price change Momentum Realtor grade
    1 Port Moody Centre Port Moody $1,125,605 78.6% 65.4% 0.76     25.6% 73.2% 87.7%     ★★★★
    2 Glenayre Port Moody $1,164,747 81.4% 67.7% 0.78     38.1% 71.5% 77.6%     ★★★★
    3 River Springs Coquitlam $797,165 65.5% 46.3% 0.54     36.1% 83.4% 78.1%     ★★★
    4 Edmonds BE Burnaby $1,351,277 80.5% 78.5% 0.91     28.0% 75.7% 93.0%     ★★★½
    5 Meadow Brook Coquitlam $783,082 64.4% 45.5% 0.53     33.9% 62.5% 89.5%     ★★★
    6 Cape Horn Coquitlam $1,062,888 87.4% 61.8% 0.72     43.5% 78.0% 95.9%     ★★★
    7 Hastings Vancouver East $1,497,192 94.6% 87.0% 1.01     43.0% 87.2% 98.4%     ★★★½
    8 Burke Mountain Coquitlam $1,474,691 52.8% 85.7% 0.99     30.7% 67.5% 64.3%     ★★★★
    9 Sapperton New Westminster $1,009,519 90.8% 58.7% 0.68     28.9% 63.5% 89.8%     ★★★★
    10 Mountain Meadows Port Moody $1,126,255 78.7% 65.4% 0.76     39.6% 61.8% 70.8%     ★★★½
    11 Steveston Village Richmond $1,443,206 80.6% 83.9% 0.97     26.4% 66.3% 65.7%     ★★★★½
    12 Renfrew VE Vancouver East $1,509,186 95.4% 87.7% 1.02     35.8% 80.1% 96.6%     ★★★½
    13 Mount Pleasant VE Vancouver East $1,546,913 97.8% 89.9% 1.04     28.3% 71.3% 85.1%     ★★★★½
    14 Westwind Richmond $1,793,209 100.1% 104.2% 1.21     33.6% 82.9% 88.6%     ★★★★
    15 Sullivan Heights Burnaby $1,390,000 82.8% 80.8% 0.94     26.4% 63.9% 86.1%     ★★★½
    16 Eagle Ridge CQ Coquitlam $909,276 74.7% 52.8% 0.61     25.2% 66.9% 60.2%     ★★★★
    17 Maillardville Coquitlam $652,480 53.6% 37.9% 0.44     -0.9% 84.2% 70.1%     ★★★
    18 Central Pt Coquitlam Port Coquitlam $835,865 92.8% 48.6% 0.56     28.4% 97.1% 77.9%     ★★★½
    19 Central BN Burnaby $1,454,004 86.6% 84.5% 0.98     30.1% 74.4% 73.5%     ★★★½
    20 The Crest Burnaby $1,492,514 88.9% 86.7% 1.01     35.1% 76.5% 75.3%     ★★★½
    21 Brentwood Park Burnaby $1,677,795 100.0% 97.5% 1.13     27.6% 76.7% 83.7%     ★★★★
    22 Hastings East Vancouver East $1,545,944 97.7% 89.8% 1.04     28.5% 78.8% 97.5%     ★★★½
    23 Greentree Village Burnaby $1,147,550 68.4% 66.7% 0.77     17.9% 78.8% 67.7%     ★★★½
    24 Willingdon Heights Burnaby $1,543,501 92.0% 89.7% 1.04     22.5% 77.2% 79.3%     ★★★★
    25 East Burnaby Burnaby $1,337,511 79.7% 77.7% 0.90     31.5% 66.4% 70.2%     ★★★½

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