Where to buy real estate in 2019: Surrey, B.C. - MoneySense

Where to buy real estate in 2019: Surrey, B.C.

Our No. 1 pick in this West Coast Canadian region offers large homes with two-car garages and big backyards.

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Surrey continues to battle its negative image, with reports of daylight shootings and racial tensions. But the reputation may be undeserved.

South Surrey, commonly referred to as White Rock, is a well-known retirement hot-spot, while property just north of the King George highway retains its expansive nature and almost rural feel. For that reason, it’s hard to ignore the relative value a house in Surrey can offer. It’s just a matter of finding the right neighbourhood.

 

Click Tap column headings to re-rank neighbourhoods. Click Tap on any neighbourhood name to learn more about it.

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Rank Neighbourhood Area Average home price (2017) Value Momentum Average price vs. area Avg. price vs. metro district Avg. price vs. outer region 1-year price change 5-year price change Final Star Rating
1 Guildford Surrey $956,192 100 46.43 86.7% 84.80% 44.7% 8.41% 66.8% ★★★½
2 Fleetwood Tynehead Surrey $1,083,073 28.57 89.29 104.4% 102.00% 53.9% 13.43% 79.7% ★★★½
3 West Newton Surrey $974,194 85.71 57.14 91.1% 89.00% 47.0% 14.60% 73.3% ★★★½
4 Cloverdale Surrey $1,051,065 42.86 89.29 103.3% 101.00% 53.3% 14.96% 77.1% ★★★
5 North Surrey Surrey $1,105,850 57.14 60.71 97.3% 95.10% 50.2% 11.60% 74.8% ★★★
6 East Newton Surrey $925,017 71.43 42.86 92.5% 90.40% 47.7% 13.48% 62.9% ★★★
7 South Surrey White Rock Surrey $1,461,421 14.29 14.29 149.4% 146.00% 77.1% -6.65% 48.3% ★★
Value
Measures how affordable the neighbourhood is compared to the surrounding area and the region overall
Momentum
Measures how quickly prices are appreciating in this neighbourhood, with an emphasis on long term appreciation

For more, please see our complete methodology

Top 3 neighbourhoods to buy

1. Guildford

Guildford is one of the better options for value-seekers investigating Surrey. This neighbourhood boasts iconic large, two-car-garage homes with a big backyard for the kids. In a part of the country where space is at a premium, this is a very, very nice feature.

The neighbourhood is located just south and east of Guildford Town Centre, which is advantageous—but can also pose problems. While residents benefit from easy, quick access to shopping, proximity to the SkyTrain has been known to attract criminal elements (mostly those looking for an opportunity to steal stuff).

But the benefits can easily outweigh the cautions. Average house prices in Guildford are about 13% cheaper than average house prices in surrounding communities, and more than 15% cheaper than the average across Surrey. Like many suburban communities, Guildford property prices are also significantly cheaper than average house prices for Greater Vancouver—in this case, 55% cheaper.

2. Fleetwood Tynehead

For the last five years, the top-searched neighbourhood in Surrey was this No. 2-ranked neighbourhood. Located in the northeastern part of Surrey, Fleetwood Tynehead attracts families—and, at present, almost a quarter (22%) of the neighbourhood’s population is under the age of 19.

Part of its draw is that the neighbourhood is close to all that Guildford has to offer (our No. 1 ranked community) but further away from the negative elements brought about by the SkyTrain station. Plus, residents get access to Tynehead Regional Park, an ecological park that offers dog-friendly spaces as well as trails by the Serpentine River, a fish hatchery and a butterfly garden.

Since most homes are owner-occupied (more than 80%) the neighbourhood benefits from having an established community feel, and this lends history and depth to annual events such as the 10-day Greek Food Festival and the Fleetwood Festival.

Homes cost a bit more here, with average house prices about 4.5% higher than in surrounding neighbourhoods, but still 46% cheaper than the average house price for Greater Vancouver.

3. West Newton

Search “Newton, Surrey” and you’re bound to find a variety of forums proclaiming how bad this neighborhood is for families (or just about anyone). There used to be truth to this. Gangland shootings and daylight drive-bys were common and, sadly, still sometimes happen. But the City of Surrey has done a lot to clean up this neighbourhood and its reputation.

For instance, there’s a new community centre and the local Business Improvement Centre has invested in cleaning up the town hub. The new West Newton Community Centre offers a 9.4-acre park that includes a regulation size grass cricket pitch (with a spectator stand), a pavilion suitable for a variety of outdoor events, a community walking track and a large, super-kid-friendly playground.

For most, the “problem” spots are no longer all over Newton (and West Newton), but have moved to an isolated area around Scott Road. Still, the community still has a lot of work to do to shed its less-than-safe image.

One way this will change is when engaged homeowners begin to occupy and gentrify the neighbourhood and with homes selling, on average, for 9% less than surrounding communities, 11% less than the average Surrey house and 53% less than the average GVA house, it’s only a matter of time before buyers and developers turn their attention to West Newton.