West Vancouver, Canada, March 26, 2010 --(PR.com
)-- Spring 2010 is delivering a dynamic market for West Vancouver property with benchmark prices reported in February showing a one-year increase of over 20%. Realtor Brock Smeaton confirms that West Vancouver realtors are experiencing an upsurge in interest from potential buyers driven, he says, by the convergence of various factors. “Interest rates, immigration, a strong dollar and buoyant optimism are resulting in intense demand, particularly for properties in the 1 million to 2.5 million dollar range.”
Leading indicators are delivering encouraging news of a strengthening recovery for the economy at large and many buyers are surveying the market with keen awareness of the implications of pending changes to the sales tax regime. February sales in West Vancouver were double those of January, 2010 and more than double the total from February, 2009. Extensive global exposure over the past months for one of the most desirable urban environments imaginable hasn’t hurt either.
What is the attraction? Active communities around neighbourhood centres for shopping and services allow for intimate community life within a larger urban framework. Some of the finest schools in the country, both public and private, are complemented by ready access to numerous post-secondary institutions. The heart of the business community and the ultimate in outdoor recreation are both minutes away. Moreover, choose a property at random and the views in almost any direction are sure to be stunning.
Closer inspection only adds to the desirability of West Vancouver real estate in the near and long terms. Established households with above average incomes add to the stability of the market. Property values continue an upward trend and a growing diversity of housing choices makes West Vancouver a lifetime community. As needs change, residents are able to upsize or downsize without abandoning the community roots they have established.
The natural boundaries of mountain and ocean limit the potential for sprawl. Like any finite resource, scarcity builds value over time regardless of cyclical market fluctuations. Each successive generation of building adds to the quality and desirability of the property inventory, enhancing the values of existing properties even as new developments come on stream. Investment in community services and infrastructure have maintained the quality of life and met the challenges of managing growth in a proactive way.
All things considered, West Vancouver continues to be one of the region’s most desirable communities. For homeowner and investor alike, spring 2010 is an ideal time to rediscover West Vancouver.
Brock is a top Real Estate Agent at Prudential Sussex Realty - West Vancouver, British Columbia's leading residential real estate company.