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. They also interviewed local realtors to get a score for each area.
Topping the list for all of the Lower Mainland 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 regional top 10, making Tri-Cities the clear favourite.
Check out the full interactive ranking tables for where to buy a townhome in Metro Vancouver here.
New Westminster doesn't get a neighbourhood on the full table until number 17, where Downtown New West appears on the list.
Zolo also looked at each individual municipality and ranked neighbourhoods within it in terms of where is best to buy a townhome. Obviously the top one in New Westminster was the downtown area, and this was followed by Uptown and GlenBrooke North. Check out the full interactive rankings for New Westminster and Burnaby (combined) here.