METRO VANCOUVER (NEWS 1130) – It’s supposed to be a safe investment — assuming you can scrape up the cash in the first place.
A new ranking from our friends at MoneySense Magazine looks at the best neighbourhoods in Metro Vancouver in which to buy real estate.
Coming in at number five: Renfrew-Vancouver East, where the average price of a home as of 2015 was just over $1.14 million. The neighbourhood features a lot of solid, older homes; as well as some newer condo developments.
New Horizons in Coquitlam came in fourth. Hastings in Vancouver East was in third. Brentwood Park in Burnaby was in second.
The top neighbourhood to buy in in the Vancouver area? Ambleside in West Vancouver.
There, the average price is $2.2 million. But there are still homes that are quite a bit cheaper than in the surrounding areas, meaning there’s still time for them to appreciate.
The top 10 Metro Vancouver areas in which to buy a home (and average price):
1. Ambleside in West Vancouver ($2,249,300)
2. Brentwood Park in Burnaby ($1,250,000)
3. Hastings in Vancouver East ($1,036,500)
4. New Horizons in Coquitlam ($755,100)
5. Renfrew in Vancouver East ($1,145,000)
6. Vancouver Heights in Burnaby ($1,249,800)
7. Victoria in Vancouver East ($1,149,100)
8. Mount Pleasant in Vancouver East ($1,099,800)
9. Ladner Elementary in Ladner ($811,500)
10. Sapperton in New Westminster ($793,800)
Click here for the full ranking from MoneySense Magazine.