I knew there was something wrong with real estate valuations in BC, but I didn’t expect it to be this bad. I would expect Vancouver to be on this list, but never would I have expected Abbotsford and Kelowna on the list. These are cities far far away from Vancouver and yes they’ve been growing, but things have gotten a little out of hand.
Can you say speculation? 4 of the top 21 cities are in BC.

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clipped from www.greaterfool.ca
Here are the most “severely unaffordable housing markets”, ranked from the worst:
1. Sunshine Coast, Australia
2. Honolulu
3. Gold Coast, Australia
4. Vancouver
5. Sydney
6. San Francisco
7. San Jose
8. Victoria
9. San Luis Obispo
10. Bundaberg, Australia
11. Los Angeles
12. Adelaide
13. Melbourne
14. New York
15. Belfast
16. London
17. Santa Cruz
18. Kelowna
19. London exurbs
20. Taraunga-W. Bay, New Zealand
21. Abbotsford
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2 Responses to “British Columbia Valuations”

  1. Em Says:

    Here is a link from Forbes I read in late 2007.
    http://www.forbes.com/2007/08/24/housing-overpric

    Vancouver then was with pretty nice company. 6th of the list but probably one of the most desirable to live. What is interesting about this list is that all the cities have incredible international appeal and hence not really dependent on their country's economy. But if everyone is going down the drain, if we MAY sink too.

    I agree, Abbotsford especially has no place on the list. The suburbs of Vancouver is going to see one of the most spectacular collapse in my opinion. Also Commercial real estate will see similar collapse like the residential market.

    Em

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