Vancouver Price Change Chart for June 2011

Whoo hoo. Party on. The picture has changed a bit. In the detached listings, most areas have returned to bubbling in price above the inflation rate with the usual suspects pulling the rate of growth very high.

The gap between detached and overall continues to widen, but the rate of increase has shifted upward for attached too, but that is the result of a small handful of areas: Richmond, Van East and Van West for detached (8.8, 10.6, 8.7% up on the year vs. 6% overall) and Richmond and West Van for apartments (7.2 and 14.5% up vs. 3.5% overall). For apartments, remove the high flyers and they are returning gains below the inflation rate.

If we break down detached by area and smooth over four months, we get the following chart (below). Areas of high growth in price:

Richmond (which appears to be topping out. The REBGV tossed out that oh, it's balancing because it lost $25,000 in value since last month. Really, guys, it's come to this. Houses in Richmond lost 1/7 of the average house price in the U.S., in one month, and that's a "leveling off".)
Van West (Rip roaring)
West Van (likewise)
Burnaby
Van East (Our old reliable "average" gal)
South Delta

The rest are making yearly returns close to or below the inflation rate.