Douglas Todd: Metro Vancouver’s priciest housing has stagnated for a decade, as foreign capital dries up
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Douglas Todd: Metro Vancouver’s priciest housing has stagnated for a decade, as foreign capital dries up
Multi-million-dollar houses on the west side of Vancouver, and in West Vancouver, are selling for less than during the "speculation-driven" era of 10 years ago.
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The most expensive neighbourhoods in Metro Vancouver are seeing house prices drop to levels not seen since a decade ago.
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Values for detached houses on the west side of Vancouver, and in hillside West Vancouver, are stagnating, in part because foreign capital has dwindled, say scholars and realtors.
That is even as most prices for detached homes across Metro Vancouver neighbourhoods are higher than they were a decade ago, especially in outlying suburbs such as Maple Ridge and Port Coquitlam.
But many houses valued in the $3 million-to-$5 million range on Vancouver’s west side, and in West Vancouver, are selling for less than they did more than 10 years ago.
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