Forget about moving into a bigger home

We’re paying more to jump the ever-widening price gap

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From the November 2014 issue of the magazine.

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Dreaming of moving to a bigger home? It may be time to put that dream aside and start renovating your current home instead. In major cities across Canada, sales activity trends for the last four years show that the more expensive the property, the faster its price has surged. This means homeowners who want to move up are having to pay more to jump an ever-widening price gap. No market illustrates this trend more outrageously than Vancouver, where almost all the appreciation lately has been in million-dollar-plus homes.

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