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Richmond nowhere on list of region’s hot spots to invest in real estate

Considering the city's real estate development and speculation, you might think that some areas of Richmond would be among the region’s hottest areas to invest in real estate right now – but not according to financial website MoneySense.
Uptown New Westminster residential real estate
Residential real estate in Uptown New Westminster

Considering the city's real estate development and speculation, you might think that some areas of Richmond would be among the region’s hottest areas to invest in real estate right now – but not according to financial website MoneySense.

Its latest rankings of the top 25 Lower Mainland neighbourhoods to invest in residential real estate don’t include a single neighbourhood within Richmond. Instead, hot spots in more eastern suburban areas such as New Westminster and Port Coquitlam dominate the list.

There were six neighbourhoods on the list in New Westminster, with Uptown New West topping the chart, as well as another six in Port Coquitlam and four in Langley. Mission and Port Moody each had two neighbourhoods in the list, all ranked in the top 10.

The ranking assesses a combination of value for money, market momentum and average investment grade from local realtors.

MoneySense said that Uptown New West came in highest because of a combination of factors, including its sub-$1 million average home price. The report said, “The overwhelming consensus by realtors who specialize in this community is that Uptown New West is inner-city life without inner-city Vancouver prices.”

Check out the full ranking below – and to see the interactive chart, which can be sorted individually by value for money, momentum and realtor grade, click here.

MoneySense top rankings
Source: MoneySense 

Value

Measures how affordable the neighbourhood is compared to the surrounding area and the region overall

Momentum

Measures how quickly prices are appreciating in this neighbourhood, with an emphasis on long term appreciation

Realtor Grade

How realtors surveyed rate this neighbourhood

For more, please see complete methodology

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