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New Westminster has long been seen as a great alternative for homebuyers whose budgets won’t stretch to meet Vancouver prices. With quick access to Highway 1 as well as SkyTrain, the Royal City offers easy commutes and plenty of its own amenities.
Condo prices here have done well for investors too. Over the past 10 years, the benchmark sales price of a New West apartment has grown by 56.5 per cent. Looking at recent activity, sales this October were up a not-unremarkable 46 per cent over September, while new listings fell off slightly by less than one per cent.
The seven recently reported sales in New West demonstrate a range of offers being accepted. These run from two per cent below list for a one-bedroom in Uptown to eight per cent over asking for a threebedroom in the Quay neighbourhood.
Uptown
The Uptown community has all your must-have amenities including banks and fitness centres as well as a park with an outdoor pool and a small mall. The area is also a quick stroll away from picturesque Queen’s Park – a great place to walk and admire the wealth of heritage houses.
This is also a neighbourhood with a wealth of condos; 82 of the city’s 266 active listings are here. They range from a one-bedroom in the half-century-old Norfolk House for $89,000 to $520,800 for a two-bedroom home in the practically brand-new, one-year-old Viceroy tower. While the former is a great opportunity for a first-time buyer to get a foot in the door, the latter is a great place to enjoy expansive views of the mountains and Fraser River.
The most recently reported sale in this neighbourhood at the time of writing was the previously mentioned one bedroom that went for two per cent less than it was listed for. Located in the 31-year-old The Windsor building, the owner was hoping for $169,900 and accepted an offer of $167,000 after 57 days on the market.
GlenBrooke North
Nearby Uptown is the neighbourhood of GlenBrooke North. This quiet residential community also enjoys easy access to Queen’s Park as well as transit, stores and schools. Agents will tell you it’s a great place for fi rst-time buyers and several of the area’s developments look like they could just as easily be in Whistler.
There are currently six active listings in the neighbourhood starting at $239,900 and going to $448,000. Two of the properties are in the 15-year-old The Crofton; another two are in the two-yearold 8 West complex.
New Westminster Condo Market Snapshot: Oct 30-Nov 13
