The average Vancouver home price is down more then the cost of an average London house.
City of Vancouver currently has an average home price of $1.1 million, down 20.7% over the last 28 days and down 24.5% over the last three months. The average detached home is $2.6 million, down 7% compared to three months ago.
Due to a new 15% property tax sales have decrease by 94%.
Will this cause more investment from China in UK real estate?
As long as it is homes over a certain value or new construction it won’t distort the normal market. NYC has rules like this.
How much does this actually have to do with the price of oil falling?
You want to talk about new buildings and skylines changing?
Most of that is hotels when is the last time we build one of those?
Every state in the US has a bigger city then London.
FYI: Toronto is Canada’s main city.