CHARTS: Lower Mainland house prices jump 7.7 per cent in May

Fastest real estate price gain in past six months has been in Surrey area (with interactive charts by city)

Demand for townhouses is up in the Fraser Valley.

Lower Mainland house prices climbed by an average of 7.7 per cent in May, according to the new monthly summary of transactions from area real estate boards.

The latest monthly increase means Fraser Valley detached house prices are up 38.3 per cent from one year ago to $834,200, and the benchmark detached house in the Greater Vancouver area is up 36.9 per cent to $1.51 million.

The biggest recent price gains have been in North Surrey and North Delta – both up just over 30 per cent in the last six months – followed by Richmond (up 29.8 per cent) and South Surrey/White Rock (up 28.3 per cent.)

SEE INTERACTIVE CHARTS OF GAINS BY CITY BELOW

Benchmark prices of townhouses were $365,000 across the Fraser Valley in April, up 20.4 per cent from a year ago, while apartments were up 17 per cent year-over-year to $225,200.

In the Greater Vancouver area, attached homes were up 24.9 per cent from one year ago to $632,400, while apartments were up 22 per cent to $485,200.

“Home sellers are becoming more active in recent months, although that activity is being outpaced by home buyer demand today,” said Dan Morrison, president of the Real Estate Board of Greater Vancouver, which excludes Surrey, North Delta and White Rock.

“Economic and job growth in Metro Vancouver is out performing most regions in the country. This is helping to underpin today’s activity.”

The Fraser Valley Real Estate Board is still seeing “tremendous” demand for detached houses despite signs that is levelling off, said president Charles Wiebe.

“We’re also seeing the ripple effects as consumers are looking to townhomes and apartments in record numbers. This year, so far, is the busiest those markets have ever been.”

Copy: HOME PRICE CHANGES APR2016Create bar charts

Just Posted

VIDEO: Vancouver Giants earn a 3-1 victory over Everett in season-opener in Langley

Langley’s major junior hockey team opened the season at home with a victory over the Silvertips.

VIDEO: Police cooperation leads to arrest and interception of stolen Langley truck

A pickup was stolen in Langley early Friday morning and crashed in Burnaby later in the day.

Free vet clinic caters to pets of homeless, low income in Langley

The first such clinic in Langley will take place later this month.

Work starts on highway lanes for 216th Street project

The new Langley interchange will see another phase of work begin this autumn.

Extradition hearing set for Langley developer accused of fraud

Mark Chandler will go before the B.C. Court of Appeals early next year.

Dinos and dino eggs found in Langley City park

And so are slides and swings and more at the new themed playground.

B.C. premier apologizes for removal of 1950s totem pole at Canada-U.S. border

First Nations say pole was raised at Peace Arch but removed to make way for tourism centre

Tornado touches down in Ottawa and Gatineau, Que.

Environment Canada says cars and homes have been damaged by severe thunderstorms and high wind gusts

An unexpected sight: Bear spotted eating another bear in central B.C.

Cheslatta Carrier Nation Chief finds bear eating another bear’s carcass

RCMP confirm death of missing BC teen Jessica Patrick

No details on cause were given. Case is under criminal investigation and police are asking for tips.

CUTENESS OVERLOAD: 2 sea otters hold hands at the Vancouver Aquarium

Holding hands is a common – and adorable – way for otters to stay safe in the water

B.C. teen with autism a talented guitarist

Farley Mifsud is gaining fans with every performance

Yukon man facing new attempted murder charge in B.C. exploding mail case

Leon Nepper, 73, is now facing one charge each of aggravated assault and attempted murder

B.C. man who left hospice to run in upcoming election dies

A week after leaving hospice to go to city hall to declare his candidacy, David Hesketh has died.

Most Read