Transit investment is unlocking value for unique neighbourhoods in the region that were once considered too far away from the city, says a new report.
Real estate franchisor Re/Max LLC has named seven Metro Vancouver neighbourhoods that are getting a boost from regional infrastructure investment and new transportation links.
Wednesday’s report cites access to the SkyTrain and improvements to major highways over the last two years, influencing assessments of specific neighbourhoods in the region.
With commute times now shorter, there is an “exodus” from downtown to more affordable suburbs with their own character and appeal, the report said.
Here are Metro Vancouver’s seven “hidden gems,” according to Re/Max.
- Bridgeport, Richmond: Offers “strong” transit access and prices up to $300,000 lower than Steveston, according to Re/Max. Average house price: $1,069,900.
- Ladner, South Delta: Buyers can save up to $1 million, if they are not deterred by traffic and construction work. Average house price: $1,149,100.
- Mount Pleasant, Vancouver: Known for its “trendiness.” Average house price: $873,933.
- Willoughby Heights, Langley: Buyers can get more space at a lower price and have city access via Highway 1. Average house price: $894,516.
- Fraser Mills, Coquitlam: A “promising long-term investment” due to ongoing development and waterfront access, says Re/Max. Home prices range between $732,000 and $1,796,600.
- Coquitlam West: A land assembly project converting industrial land into homes near SkyTrain with “early investment potential.” Home prices range between $838,071 and $1,963,039.
- Capstan Way, Richmond: With ongoing revitalization attracting businesses and residents, northern downtown Richmond could “explode” in the next decade, says Re/Max. Average house price: $899,000.
