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Bringing People Home, Home Buying, Real Estate News, Your Next Home | July 11, 2022

Why Mission is the Next Key Suburban Market

Mission, once a rural town, is now emerging as a key suburban market. The population has grown significantly, with 2021 Census data showing a 7.7% increase since 2016, bringing the total to 41,519 residents. This number continues to rise as more homebuyers move away from Vancouver.

Affordable Housing Options

In April, the benchmark price for all residential properties in Metro Vancouver reached $1,374,500. As prices rise, entry-level buyers are priced out of the local market, making places like Mission more appealing. Families looking for more spacious homes also find Mission attractive.

Urban Amenities and Natural Lifestyle

Many buyers want access to urban amenities without living too close to them. They seek homes with notable views and a lifestyle immersed in nature. This combination makes Mission an attractive suburban market.

Connectivity and Accessibility

Connectivity is crucial for real estate markets. Mission is easily accessible via the West Coast Express train line and the Mission Bridge, which connects to Abbotsford and Highway 1. The Fraser Valley Highway 1 Corridor Improvement Program aims to better serve the region, enhancing accessibility. This ease of connectivity attracts developers, leading to significant growth in Mission.

New Developments

Fifth Avenue Real Estate Marketing is overseeing four upcoming projects in Mission, including Westminster Plateau, which will offer 36 townhomes and 54 condominiums in a multifamily community.

Nature and Well-being

Access to nature promotes well-being and stress reduction. Post-pandemic, Canadians value nature more and are willing to move away from urban areas for it. Mission offers a lifestyle close to nature with hiking, fishing, biking, and winter activities like skating and hockey on frozen ponds. Westminster Plateau, for example, boasts views of parkland and the Fraser River, providing a unique perspective compared to Vancouver.

Strong Sense of Community

Unlike busy downtown centers, Mission has a small-town, neighborly ambiance. Residents often see their neighbors enjoying coffee on their porches, children playing outside, and friends walking their dogs. This sense of safety and community appeals to families, making Mission a desirable place to live.

Family-Oriented Environment

Mission is family-oriented, with local schools making it attractive to young families. It offers a countryside feel while being close to urban centers. This unique blend makes Mission a key suburban market for residential and mixed-use development, marking it as one to watch.

By: Michelle Des Rosiers, Senior Vice President of Fifth Avenue Real Estate Marketing

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