Homeowners in Vancouver believe their property values have increased by an average of $269,000, according to a BMO poll released May 6.
Vancouver owners believe they could sell their properties at an average price of $698,000 for all home types. Over one-in-four owners believe the values of their homes has more than doubled since they bought them. This is the second-highest amount of all the major cities in the country, with Montreal in first place at 48%.
Province-wide, those who own their own homes expect to be able to sell them for an average of $342,000 – an increase of $201,000 over what they paid. This is the highest in the country, followed by Alberta at $261,000.
Across Canada, the average homeowner expects to sell their homes for $370,000, which represents an increase of $142,000 over what they paid. One-third believe their home values have more than doubled.