Buyers looking to affordable Fraser Valley
Condo sales in Abbotsford indicate that the Lower Mainland is becoming a more desirable destination for Greater Vancouver home buyers.
The quick sales of 60 per cent of the At Nature’s Gate, Phase 2 luxury condominium project in Abbotsford at the end of April was another sign of Vancouver-area buyers being drawn to the Fraser Valley for affordable homes, according to the Fraser Valley Real Estate Board.
While the board does not specifically track where buyers are coming from, anecdotally many realtors indicate there is a movement of buyers from Greater Vancouver to the Fraser Valley.
“There is no doubt that affordability is an issue,” said Laurie Dawson, the FVRB’s communications co-ordinator.
Dawson said first-quarter sales of townhomes in Abbotsford rose 37.4 per cent this year compared to the same period in 2005, making it the hottest condo mar ket in B.C.
A tally by the marketers of At Nature’s Gate shows that fewer than half of the project’s buyers come from Abbotsford with a healthy chunk of the remainder coming from the Greater Vancouver Regional District including: Surrey (15 per cent), Tri-Cities (14 per cent), Langley (seven per cent), Maple Ridge (six per cent) and North and West Van and Vancouver proper (six per cent).
“I’ve lived in Port Moody for two and one-half years and Port Coquitlam for the same and I now want my own place,” says Doreen McCormick, who recently purchased at Nature’s Gate.
“It really is a lot more affordable and I love it because of the setting.”
The complex is located a stone’s throw from beautiful Mill Lake and has quick access to shopping.
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