The Fifth Dimension Report – Winter 2024 Edition

Fifth Avenue embraces the new year with its final edition of the Fifth Dimension for 2023.

As we welcome the new year, Fifth Avenue Real Estate Marketing Limited (Fifth Avenue) proudly presents the final installment of our 2023 series of the Fifth Dimension.

Metro Vancouver’s Multifamily Home Market Comprehensive Guide.

We are thrilled to offer this comprehensive handbook on Metro Vancouver’s multifamily home market, available year-round.

Fifth Avenue has led in residential real estate sales and development marketing for over 4 decades. Our primary focus is on the suburban and Fraser Valley markets. As a partner of Peerage Realty Partners, we extend our network to include Epic Real Estate Solutions Inc. based in the Okanagan, and BakerWest Real Estate Incorporated in Vancouver. Additionally, we have strategic partnerships with DFH Real Estate on Vancouver Island, covering British Columbia’s ever-changing and expanding new home market.

Zonda Urban provided data for this report.

Known as a leading authority in new multifamily home market advisory services, Zonda Urban, meticulously gathers the data supporting this report. Zonda Urban has been a vital contributor to this report since 2010.

The Fraser Valley allure.

People seek out the Fraser Valley for real estate investment and homeownership due to its stunning landscapes, thriving economy, and proximity to Vancouver

Recent Developments have had significant impact on purchasing behavior.

Recent developments such as interest rate hikes, an extended foreign buyers ban, and short-term rental restrictions have significantly impacted the Fraser Valley market.

Leading up to 2023, low rates fueled a surge in housing sales, but as rates rose, more buyers were priced out of the market.

The Foreign Buyers Ban got extended.

The extension of the foreign buyers ban, effective until January 1, 2027, aims to curb housing price inflation and enhance affordability for locals. However, it has had a minimal impact.

In 2021, during BC’s hottest market, foreign buyers constituted less than 1.5%, with a majority being spouses of Canadian residents. However, the ban overlooked this, resulting in both buyers being unable to be listed on the title together as a family.

Get in Touch

Please feel free to reach out with any questions you may have or to discuss potential sites you may be considering preparing for the market. The earlier marketing is introduced into the project development process, the more we can help guide and ensure the correct overall unit mix to achieve maximum sales and revenue results for each pocket of the Fraser Valley.

Click here to Download the Fifth Dimension Report, a Comprehensive Analysis of the Multi-Family New Home Market throughout Metro Vancouver & the Fraser Valley