So here is what Abbotsford and Mission’s HPI VS. ![]() We get this information from the Fraser Valley Real Estate Board statistic package monthly. In most Fraser Valley markets such as White Rock and South Surrey the average price is influenced by the sale of large estate homes from month to month on average. Well this is not the case in Abbotsford and Mission. The example is extreme in Vancouver but most markets in the Fraser Valley follow this trend with high-end homes skewing the average price. In-fact around my office we use Benchmark Price, aka Home Price Index instead of average price to avoid this mis-information. These high price purchase prices skew the average price we talk about. ![]() In Vancouver prices from the large, high-end homes make up 20% of the sales and this segment gets all the attention. 2.24%.Īfter reading the article below about Vancouver affordability I was inspired to do some number crunching myself for our neighbourhoods to compare. But I wanted to focus on affordability under the new mortgage rates, in some cases ½ percent higher than yesterday. The news today, Nov 15 th 2016 will probably surround the recent interest rate increases from this morning.
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