Where to buy real estate in 2019: Burnaby and New Westminster, B.C. - MoneySense

Where to buy real estate in 2019: Burnaby and New Westminster, B.C.

Spectacular views at prices that are a steal compared with the average in Greater Vancouver make these the Top 3 neighbourhoods to watch.

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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 Uptown NW New Westminster $1,204,752 91.67 85.12 84.3% 59.30% 51.9% 9.99% 93.0% ★★★★
2 Greentree Village Burnaby $1,245,000 78.57 95.83 82.6% 83.00% 72.7% 23.73% 97.8% ★★★★
3 Big Bend Burnaby $1,440,000 67.86 95.83 87.4% 87.90% 77.0% 17.96% 101.6% ★★★½
4 Queensborough New Westminster $1,190,011 79.76 71.43 92.8% 65.30% 57.2% 18.43% 77.5% ★★★½
5 Sapperton New Westminster $1,160,809 89.29 37.5 85.0% 59.80% 52.4% 1.53% 63.3% ★★★½
6 Sullivan Heights Burnaby $1,269,000 86.9 37.5 76.8% 77.20% 67.6% -6.47% 80.8% ★★★½
7 Connaught Heights New Westminster $1,190,848 94.05 51.79 84.1% 59.10% 51.8% -8.24% 96.7% ★★★½
8 Central BN Burnaby $1,829,700 60.71 80.36 90.8% 91.30% 79.9% 12.92% 90.6% ★★★½
9 West End NW New Westminster $1,277,367 44.05 77.98 112.8% 79.30% 69.5% 14.53% 86.0% ★★★½
10 Downtown NW New Westminster $1,000,000 71.43 58.93 97.6% 68.70% 60.1% 26.32% 58.2% ★★★½
11 Burnaby Lake Burnaby $1,727,700 54.76 70.24 94.5% 95.00% 83.2% 1.96% 88.7% ★★★½
12 Oakdale Burnaby $1,364,000 90.48 30.36 75.9% 76.30% 66.9% -4.86% 58.8% ★★★
13 The Heights NW New Westminster $1,211,234 59.52 67.86 102.5% 72.10% 63.2% 12.59% 83.7% ★★★
14 Highgate Burnaby $1,551,250 46.43 67.26 96.6% 97.10% 85.0% 17.91% 82.7% ★★★
15 East Burnaby Burnaby $1,442,450 83.33 46.43 81.2% 81.60% 71.5% 4.14% 72.1% ★★★
16 Capitol Hill BN Burnaby $1,571,000 27.38 77.98 104.0% 104.50% 91.5% 12.17% 90.0% ★★★
17 Edmonds BE Burnaby $1,285,000 80.95 47.62 81.5% 81.90% 71.7% 1.53% 73.0% ★★★
18 Moody Park New Westminster $1,474,350 66.67 45.83 99.8% 70.20% 61.5% 12.91% 67.2% ★★★
19 GlenBrooke North New Westminster $1,183,263 64.29 39.88 100.3% 70.50% 61.8% 3.55% 71.4% ★★★
20 Vancouver Heights Burnaby $1,655,000 40.48 68.45 99.5% 100.00% 87.5% 4.89% 82.7% ★★★
21 Brentwood Park Burnaby $1,468,100 63.1 35.71 90.2% 90.60% 79.4% -8.12% 75.6% ★★★
22 Willingdon Heights Burnaby $1,498,000 70.24 44.05 86.7% 87.10% 76.3% -3.63% 79.3% ★★★
23 The Crest Burnaby $1,369,500 72.62 33.93 86.5% 86.90% 76.1% -1.91% 68.7% ★★★
24 Central Park BS Burnaby $1,829,700 14.29 81.55 110.4% 110.90% 97.1% 14.53% 92.1% ★★★
25 Queens Park New Westminster $1,617,405 25 64.88 137.8% 96.90% 84.9% 5.44% 86.4% ★★★
26 Fraserview NW New Westminster $1,460,750 51.19 38.1 108.6% 76.40% 66.9% 6.67% 64.5% ★★★
27 Montecito Burnaby $1,614,500 42.86 52.38 99.1% 99.60% 87.3% -0.41% 81.1% ★★★
28 South Slope Burnaby $1,520,000 48.81 34.52 96.6% 97.10% 85.0% -1.46% 70.6% ★★½
29 Deer Lake Burnaby $2,530,000 2.38 78.57 214.4% 215.40% 188.7% 57.89% 80.9% ★★½
30 Deer Lake Place Burnaby $1,930,000 29.76 43.45 102.6% 103.20% 90.3% -9.22% 71.0% ★★½
31 Simon Fraser University Burnaby $1,558,000 57.14 16.67 93.5% 94.00% 82.3% -0.05% 49.4% ★★½
32 Burnaby Hospital Burnaby $1,450,000 19.05 74.4 108.8% 109.40% 95.8% 4.13% 86.9% ★★½
33 Metrotown Burnaby $1,850,000 16.67 48.81 109.2% 109.70% 96.1% 0.85% 71.3% ★★½
34 Sperling-Duthie Burnaby $1,550,000 52.38 15.48 94.6% 95.10% 83.3% -10.71% 56.8% ★★½
35 Forest Glen BS Burnaby $1,750,000 8.33 61.9 120.2% 120.80% 105.8% -3.61% 85.8% ★★½
36 Forest Hills BN Burnaby $1,730,000 65.48 4.76 88.8% 89.30% 78.2% -16.57% 25.4% ★★½
37 Parkcrest Burnaby $1,700,000 33.33 37.5 101.1% 101.60% 89.0% -2.21% 68.6% ★★½
38 Buckingham Heights Burnaby $2,885,000 4.76 51.19 170.0% 170.80% 149.6% 13.12% 55.5% ★★½
39 Westridge BN Burnaby $1,968,000 25 29.76 106.5% 107.10% 93.8% 19.52% 55.0% ★★
40 Garden Village Burnaby $1,608,000 35.71 10.12 100.3% 100.80% 88.3% -17.51% 45.3% ★★
41 Upper Deer Lake Burnaby $1,922,500 22.62 26.19 107.9% 108.40% 94.9% -3.19% 65.6% ★★
42 Government Road Burnaby $1,832,500 10.71 11.9 117.2% 117.80% 103.2% -3.84% 45.6% ★★
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. Uptown NW, New Westminster

As the No. 1 ranked neighbourhood in Greater Vancouver this year, Uptown NW is a distinct New West community. Homes here often have spectacular views—some look over downtown and the Fraser River, while others offer stunning views of the North Shore mountains. There’s a mix of housing styles and buildings in this community, built from the 1890s all the way to the 1980s. There are large-scale, elaborate homes, pre-WW II cottages, modest post-war bungalows, as well as low-rise apartment buildings, and early and modernist institutional buildings, such as the Armoury and City Hall.

Perhaps the big draw to is that Uptown NW offers big-city living, yet retains its smalltown feel, and it rose to the top of the list this year because both its value and its momentum were high, and Realtors ranked it as much better than average. Houses are priced, on average, about 15% lower than those in surrounding communities, and more than 40% less, on average, than the average in New Westminster. And compared to the average home price in Greater Vancouver, Uptown NW is almost 50% cheaper.

2. Greentree Village, Burnaby

Located smack-dab in the middle of Burnaby, the neighbourhood of Garden Village boasts a high homeownership rate, with 63% of dwellings in the community owner-occupied. It’s a great place for first-time buyers because the neighbourhood is close to the British Columbia Institute of Technology (BCIT), one of the province’s largest tech-colleges. This means that any buyer who wants a mortgage-helper to offset the cost of getting into an expensive housing market will have an easy supply of in-need tenants.

In the last reported census, the residents of Garden Village were from a variety of backgrounds, with 52% of the current residents self-identifying as “new Canadians” with ties to China, Hong Kong, Taiwan, India and the Philippines.

Public transit is easily accessible from this community, with bus service running along Willingdon and Royal Oak, and providing residents a direct link to Skytrain stations. By car, Highway 1 is just minutes away.

Houses sell, on average, for about $1.245 million in this community; that’s 17.4% less than nearby neighbourhoods, 17% less than the average house price in Burnaby and 27% less than the average house price for Greater Vancouver.

3. Big Bend, Burnaby

Big Bend is the southernmost neighbourhood in Burnaby, located on the watershed of the Fraser River. Because of the fertile soil (which can be prone to flooding), Big Bend is the last section of true agricultural farmland in Burnaby. This means the area is very sparsely populated when compared to surrounding neighbourhoods (many of which have massive densification projects that include multi-level condo complexes).

Houses in Big Bend sell, on average, for 12% less than houses in nearby communities and 12% less than the average house price in Burnaby; better still, they average 23% cheaper than the average house in Greater Vancouver.