Home Buyers & Sellers Survey

The Real Estate Board of Greater Vancouver and the Fraser Valley Real Estate Board commissioned Mustel Group to conduct a survey of 2008 residential home buyers and home sellers.   These are the highlights from the survey of 1,100 buyers and sellers.

Decision Criteria

- Those who both bought and sold in 2008 were primarily driven by the need for more or less space.  A change in location and desire for a different style of home were secondary reasons.

- A desire for home ownership and investment potential are the additional motivators among those who only bought (and did not sell) in 2008.

- Concern about falling market values was a key reason for selling among those who only sold but did not buy.

- Proximity to such amenities as shops, grocery stores and medical facilities is the most common factor considered in selecting neighbourhoods, particularly among condominium, townhome or duplex buyers. Secondary considerations include proximity to transit, work, schools, and parks or green space.

- Furthermore, approximately one-third of Greater Vancouver buyers and one-in five Fraser Valley buyers report to have paid more for their homes to be closer or within walking distance to amenities such as public transit, shops and schools.

- Apart from price, other factors considered in the selection of their home include, the style of home, followed by the size (with the majority desiring a larger home). The number of bedrooms and the condition of the home are other important considerations. "Green" features are considered by one-in-ten.

-The size of home is the most common characteristic buyers will compromise to afford their home.  A number of other features are also mentioned but note that 44% in Greater Vancouver and 52% in the Fraser Valley did not make any compromises.

 

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