Vancouver’s suburbs join the $1m+ club

More of Vancouver’s suburbs are seeing growth in the number of properties valued at $1 million or more, according to new research.

A study by BTAworks’ researcher Andrew Yan shows that 28% of properties (111,659) in Metro Vancouver had seven-figure assessments at the start of July 2014 (known as the 2015 assessment) compared with 23% a year earlier.

Neighbourhoods such as Maple Ridge, Port Moody and New Westminster have joined the $1m+ club alongside the likes of Burnaby, Richmond and North Vancouver.

For the City of Vancouver, there was a rise of 12 percentage points from 2013 to 2014 with 63% of detached homes valued at $1 million or above. 

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