Knowing where is best to buy a home is always tricky, especially in today’s challenging market – so some advice is always welcome.
The research team at real estate website Zolo have analyzed hundreds of Lower Mainland neighbourhoods (352, to be exact) to see where the best places are to buy a townhome in the current market.
The researchers took into account average price in each neighbourhood, price comparisons with nearby neighbourhoods, recent price appreciation and market momentum, as well as liveability factors such as WalkScores, and interviewed local realtors to get a score for each area.
Topping the list for the entire region is Central Coquitlam, where an average townhome cost $701,730 in 2018. That’s no cheaper than surrounding areas, but the neighbourhood’s momentum score is high, and there is great access to a major retail mall and good transit links, said Zolo. In fact, the Tri-Cities had four neighbourhoods in Zolo’s overall top 10, with Port Moody’s North Shore ranked in third, North Coquitlam at number six and PoCo’s Lincoln Park at number seven.
Check out the full interactive ranking tables for where to buy a townhome in the Lower Mainland (plus Whistler, Sunshine Coast and Gulf Islands) here.
Vancouver proper doesn’t get a neighbourhood on the full table until number 15, where False Creek appears on the list, despite its high prices.
Zolo also broke out each municipality and ranked the neighbourhoods within it, in terms of where is best to buy a townhome. Obviously, False Creek topped the city of Vancouver’s list – check out the full Vancouver proper rankings here.