This year’s annual edition of the Housing Affordability Indicators for Northern British Columbia from the B.C. Northern Real Estate Board has been updated.
The new data is based on a refreshed data set that updates baseline variables to 2010.
Despite some complaints about projects in the north driving up property prices, northern B.C. remains affordable, especially when compared to Vancouver.
The north only saw a slight increase in single family home prices overall.
In 2014 The Housing Affordability Indicator for northern British Columbia was 29.1% compared to 82.6% for Vancouver and 67.9% province-wide.
Historically, the largest contributor to these differences is house prices; and this trend continues for 2014.
The average price of a single family home sold in the north in 2014 was about $280,000.
That’s $600,000 less than Vancouver, and just under $400,000 less than the provincial average.