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Ferry-Ride House Price Gap Hits $1.6m

Frank O'Brien
March 11, 2015

The average house in West Vancouver sells for just over $2 million, according to the latest figures from the Real Estate Board of Greater Vancouver. But step off the ferry on the Sunshine Coast 35 minutes later and a homebuyer is back in time, when the average house sold for less than $350,000.

The average detached house across Greater Vancouver now costs $1,026,300, says the REBGV, while it is $349,100 on the Sunshine Coast – a price not seen in Greater Vancouver since 1989.

Most Sunshine Coast real estate agents contacted by BIV said it is no coincidence that the stagnation of house prices coincides with soaring ferry fares. In 2006, it cost $46.75 for a car with two passengers to board the Langdale ferry. The same trip will cost $84.27 when another fare increase comes into effect April 1.

To read the full story from our sister publication Business in Vancouver, click here.

Frank O'Brien
Frank O'Brien is the editor of Western Canada's biggest commercial real estate newspaper, Western Investor, as well as a contributing editor at West Coast Condominium, real estate contributor to Business in Vancouverand a regular media commentator on real estate investment.