To demonstrate how the market is bifurcating along type of sale, here is the last half year of year on year price changes plotted out.
Monday, June 6, 2011
Vancouver House Price Change Chart for May 2011
Vancouver lofty year on year gains return with Single Family Homes pulling away on speculative frenzy. Take a gander at the increasing spread between the overall number and the single family home (SFH) number. The gains in attached year on year is a "mere" 3.5% and apartment is 2.2%, a world apart at rates comparable to or below inflation. (3.3% in April 2011)
What interesting times. Foreign money and those chasing the dream of gains from foreign money continue to pile into the SFH segment of the Vancouver market. According to the weekly numbers, sales are just beginning to falter--the increasing minimum bet at the table is thinning the number of players.
To demonstrate how the market is bifurcating along type of sale, here is the last half year of year on year price changes plotted out.
The condo townhouse bubble is in trouble. Bubbles need accelerating growth to survive.
To demonstrate how the market is bifurcating along type of sale, here is the last half year of year on year price changes plotted out.
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2% rise in condo prices means a loss after sales fees.
The next waypoint is going to come if OSFI regiments tighter lending on low-ratio loans. That will be another nail in the coffin. (In my experience, the living dead always put up a fuss when they're being sealed in coffins. Rising detached prices are another validation of this.)
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