June 15, 2017 Q2 2017 Townhome Market Update: MLA Advisory Richmond will be increasing Metro Vancouver's townhome supply over the next year with more than 800 units coming to market, according to the latest data from MLA Advisory. Developments such as Jasmine at The Gardens will offer luxury parkside townhomes.
Markets surrounding Vancouver are experiencing a surge in demand for townhomes. According to MLA Advisory, the top three municipalities with the most number of market townhomes in the last five years is Langley/Cloverdale (~2,650 units), followed by South Surrey/White Rock (~2,550 units) and Central Surrey/North Delta (~2,440 units).
Research from MLA Advisory also shows that regions such as North Vancouver, Richmond and Langley are seeing a greater concentration of new townhomes in application. North Vancouver has over 900 townhome units in application, while South Surrey and Richmond are sitting with over 800 units expected to come to market.
DID YOU KNOW?
In the last five years, over 12,900 newly built townhomes came to market in Greater Vancouver, yet there is still a supply shortage.
View MLA Advisory's spring 2017 update, 8 Facts About Greater Vancouver’s Townhome Market.