The City of Vancouver with its high-end single-family detached homes is increasing into the suburbs based on a study done by the Simon Fraser University. The director of the University, Andy Yan did a well-thought-out data from the previous year and realized that 43 per cent of detached homes in Metro Vancouver is at a price of $1 million or more, as at July 1 of 2015, unlike the previous year, which had a percentage of 28 per cent.
In the city, the 12-month period went up from detached homes worth 6-figure in 2014 at 62 per cent to 89 per cent in the previous year. On the other hand, there was also some high hike in the suburbs as stated by a news reporting company.
There was an incline from 12 per cent to 31 per cent in Port Moody, to the east of the city. The City of Burnaby also increased to 74 per cent from its previous 38 per cent, and Richmond took a hike from 37 per cent to 61 per cent.