Join me, Jessi Johnson, a seasoned professional with nearly two decades of expertise in mortgage brokerage and real estate, as we delve into the future of Great Vancouver’s property market.
The Canadian Mortgage Housing Corporation (CMHC), known for its cautious stance, predicts a significant rise in Greater Vancouver home values. Despite their conservative nature and reliance on potentially under-reported immigration figures from the federal government, they foresee at least an 89% increase over the next six years. This projection could realistically surpass 100%, effectively doubling current property values.
Canada’s housing crisis calls for an estimated 3.5 to 4 million additional units by 2030 to restore affordability. However, current efforts and immigration trends suggest a challenging road ahead, creating a unique opportunity for today’s buyers.
As of now, the average property value in Greater Vancouver stands at 1.2 million, encompassing all property types – condos, townhomes, and detached houses. These values, given the current trajectory and immigration influx, are poised for significant growth.
Historically, Vancouver’s property market has doubled approximately every decade. The current situation, marked by high immigration and a shortage of new housing, spells a challenging scenario for future buyers but presents an immense opportunity for current investors.
Despite the daunting prospects of rising prices and stringent qualification criteria in the future, now is a pivotal time to consider investing. With mortgage rates seemingly peaking and rental rates at all-time highs, the market is ripe for buyers.
Understanding the nuances of this market and seizing the current opportunity can lead to substantial growth in personal net worth. With free mortgage approvals and expert guidance, my team and I are here to assist you in navigating this landscape.
As we wrap up this insightful exploration of Vancouver’s real estate market, remember that timing is crucial in this dynamic environment. For those interested in diving deeper, my best-selling book, ‘Rockstar Real Estate Investing’, offers more comprehensive insights.
Stay informed, seize the moment, and embark on your real estate journey with confidence. I’m Jessi Johnson, your experienced guide in the world of real estate and mortgages.
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👉 Learn more, call Jessi at 604 716 6474, email jessi@jessijohnson.ca or schedule a time to chat here: https://calendly.com/jessirealestate
Don’t forget to pick up a copy of my best-selling book on Amazon, Rockstar Real Estate Investing if you haven’t yet and we are here for your questions at any time. Pick up my book here: https://amzn.to/3uX43SA
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