News Release FOR IMMEDIATE RELEASE

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1 News Release FOR IMMEDIATE RELEASE Buyer s market conditions continue in Greater Vancouver VANCOUVER, B.C. September 2, Conditions in the Greater Vancouver housing market continued to favour buyers in. Since April, prices have edged down slightly as the number sales and the number properties coming on to the market have been declining. The Real Estate Board Greater Vancouver (REBGV) reports that the number residential property sales in Greater Vancouver totalled 2,202 in. This represents a 36 per cent decline from the 3,441 sales in 2009, the second highest selling ever recorded, and a 2.4 per cent decline compared to July. From a wider perspective, last month s residential sales represent a 40.4 per cent increase over the 1,568 residential sales in 2008, a 34.9 per cent decline compared to 2007 s 3,384 sales, and a 26.6 per cent decline compared to 2006 s 2,998 sales. New listings for detached, attached and apartment properties declined 17.5 per cent to 3,750 in compared to 2009 when 4,544 new units were listed. Total active listings in Greater Vancouver currently sit at 15,421, a 6.1 per cent decline from last month and a 29 per cent increase from We re seeing moderate demand, low interest rates and a healthy but slowing stream supply in our marketplace, all variables that favour those looking to purchase a home, Jake Moldowan, REBGV president said. The last few months have also shown some stability when it comes to price fluctuations in the region, which is a welcome trend after reaching record highs in April. Since spring, housing prices have decreased 2.8 per cent compared to the all-time high reached in April when the residential benchmark price was $593,419. Over the last 12 months, the MLSLink Housing Index (HPI) benchmark price for all residential properties in Greater Vancouver increased 6.9 per cent to $576,597 in from $539,600 in Canada remains an attractive destination for foreign buyers, a fact that continues to affect activity in the Greater Vancouver housing market, Moldowan said. detached properties in reached 893, a decrease 34.7 per cent from the 1,367 detached sales recorded in 2009 and a 66.9 per cent increase from the 535 units sold in The benchmark price for detached properties increased 8.5 per cent from 2009 to $795,076. apartment properties reached 935 in, a decline 36.1 per cent compared to the 1,464 sales in 2009 and an increase 26.4 per cent compared to the 740 sales in 2008.The benchmark price an apartment property increased 4.5 per cent from 2009 to $385,968. Attached property sales in totalled 374, a decline 38.7 per cent compared to the 610 sales in 2009 and a 27.6 per cent increase from the 293 attached properties sold in The benchmark price an attached unit increased 6.6 per cent between 2009 and to $489, The Real Estate industry is a key economic driver in British Columbia. In 2009, 35,669 homes changed hands in the Board s area, generating $1.49 billion in spin-f activity. The Real Estate Board Greater Vancouver is an association representing more than 9,800 REALTORS and their companies. The Board provides a variety member services, including the Multiple Listing Service. For more information on real estate, statistics, and buying or selling a home, contact a local REALTOR or visit For more information please contact: Craig Munn, Assistant Manager, Communications Real Estate Board Greater Vancouver Phone: (604) Fax: (604) also available at

2 MLSLINK HOUSING PRICE INDEX PROPERTY BENCHMARK PRICE 3 MONTH AVG PRICE 1 YEAR 3 YEAR 5 YEAR TYPE AREA PRICE RANGE BENCHMARK INDEX CHANGE CHANGE CHANGE (+/-) PRICE % % % Preliminary Report Residential Greater Vancouver $576, % $577, Detached Greater Vancouver $795, % $794, Burnaby $810, % $792, Coquitlam $671, % $675, South Delta $707, % $680, Maple Ridge $445, % $454, New Westminster $576, % $595, North Vancouver $879, % $893, Pitt Meadows $563, % $528, Port Coquitlam $534, % $538, Port Moody $797, % $791, Richmond $900, % $894, Squamish $492, % $486, Sunshine Coast $393, % $430, Vancouver East $728, % $728, Vancouver West $1,641, % $1,613, West Vancouver $1,390, % $1,382, Attached Greater Vancouver $489, % $491, Burnaby $488, % $491, Coquitlam $438, % $435, South Delta $451, % $461, Maple Ridge & Pitt Meadows $303, % $309, North Vancouver $589, % $597, Port Coquitlam $407, % $401, Port Moody $394, % $397, Richmond $511, % $515, Vancouver East $540, % $523, Vancouver West $749, % $749, Apartment Greater Vancouver $385, % $388, Burnaby $351, % $351, Coquitlam $288, % $293, South Delta $355, % $359, Maple Ridge & Pitt Meadows $245, % $247, New Westminster $299, % $297, North Vancouver $382, % $384, Port Coquitlam $250, % $251, Port Moody $293, % $301, Richmond $337, % $337, Vancouver East $324, % $326, Vancouver West $491, % $496, West Vancouver $609, % $613, HOW TO READ THE TABLE: BENCHMARK PRICE: Estimated sale price a benchmark property. Benchmarks represent a typical property within each market. PRICE RANGE: Expresed as a + or - percentage the benchmark price, there is a 90% probability the sale price a benchmark house is within the interval. PRICE INDEX: Index numbers estimate the percentage change in price on typical and constant quality properties over time. All figures are based on past sales. In Year 2001, the indexes are averaged to 100 Key: * = sample too small; information not reported.

3 Aug Apr Dec 2009 Aug 2009 Apr 2009 Dec 2008 Aug 2008 C:\DATA\MonthEnd\Hpi\export\hi_res\gv-hpi2.tif MLS Housing Index - Greater Vancouver 10 Year Trend Detached Attached Apartment Year 2001 average = Index Apr 2008 Dec 2007 Aug 2007 Apr 2007 Dec 2006 Aug 2006 Apr 2006 Dec 2005 Aug 2005 Apr 2005 Dec 2004 Aug 2004 Apr 2004 Dec 2003 Aug 2003 Apr 2003 Dec 2002 Aug 2002 Apr 2002 Dec 2001 Aug 2001 Apr 2001 Dec 2000 Aug 2000

4 8 17 MLS SALES Facts Burnaby Coquitlam Delta - South Islands - Gulf Maple Ridge/Pitt Meadows New Westminster North Vancouver Port Coquitlam Port Moody/Belcarra Richmond Squamish Sunshine Coast Vancouver East Vancouver West West Vancouver/Howe Sound Whistler/Pemberton Detached Attached Apartment Detached $803,500 $620,000 $642,000 n/a $466,993 $534,250 $878,500 $555,000 n/a $850,000 n/a $381,000 $740,000 $1,680,000 $1,605,000 n/a Attached $490,000 $465,950 n/a n/a $306,500 n/a $563,000 n/a n/a $484,000 n/a n/a $533,000 $773,000 n/a n/a n/a Apartment $340,000 $262,000 n/a n/a n/a $272,000 $395,000 n/a $332,000 $348,000 n/a n/a $333,000 $478,000 n/a n/a July Detached Attached Apartment Detached $782,000 $657,950 $635,000 n/a $489,000 n/a $850,000 $473,000 $756,000 $833,000 n/a $423,000 $735,500 $1,612,250 $1,312,500 n/a Attached $454,250 $477,500 n/a n/a $312,000 n/a n/a n/a n/a $520,000 n/a n/a $534,000 $634,000 n/a n/a n/a Apartment $345,450 $286,000 n/a n/a $216,000 $278,750 $352,500 $229,000 n/a $327,500 n/a n/a $315,000 $441,500 n/a n/a 2009 Detached ,367 Attached Apartment ,464 Detached $715,000 $625,000 $560,000 n/a $463,950 $540,000 $850,000 $479,950 $725,000 $720,000 $570,000 $430,000 $675,000 $1,523,500 $1,400,000 n/a Attached $442,000 $415,250 n/a n/a $291,500 n/a $543,500 $370,000 $416,250 $467,000 n/a n/a $549,000 $675,000 n/a n/a n/a Apartment $326,000 $260,000 n/a n/a $224,500 $285,000 $354,500 $227,000 $329,000 $315,000 n/a n/a $308,000 $438,500 n/a n/a Aug. Year-to-date Detached , ,178 1, ,590 Attached ,771 Apartment 1, , , ,269 Detached $780,000 $661,500 $635,000 $366,000 $488,000 $590,000 $875,000 $530,000 $775,000 $838,000 $492,000 $410,000 $742,000 $1,675,000 $1,475,000 $887,500 Attached $470,750 $468,000 $415,750 n/a $308,000 $423,000 $599,000 $384,000 $455,444 $489,000 $376,700 $283,500 $556,000 $780,000 $1,054,500 $515,000 n/a Apartment $342,000 $278,000 $327,000 n/a $231,000 $288,000 $370,500 $237,750 $345,000 $333,000 $261,500 $228,000 $326,700 $463,000 $697,000 $295,000 Aug Year-to-date Detached , ,235 1, ,016 Attached ,206 Apartment 1, , , ,586 Detached $675,000 $572,000 $569,900 $427,500 $437,000 $530,000 $795,000 $480,000 $665,000 $683,800 $510,000 $375,000 $645,000 $1,350,000 $1,245,000 $875,000 Attached $420,000 $410,000 $385,000 n/a $288,250 $353,950 $545,000 $370,000 $400,000 $432,000 $335,000 $269,900 $507,000 $655,000 $760,000 $395,000 n/a Apartment $318,400 $251,500 $305,000 n/a $209,950 $268,000 $335,000 $221,500 $311,000 $296,000 $262,500 $220,000 $297,000 $417,000 $577,500 $276,150 Note: s are not reported for areas with less than 20 sales or for the Gulf Islands

5 8 17 MLS LISTINGS Facts Burnaby Coquitlam Delta - South Islands - Gulf Maple Ridge/Pitt Meadows New Westminster North Vancouver Port Coquitlam Port Moody/Belcarra Richmond Squamish Sunshine Coast Vancouver East Vancouver West West Vancouver/Howe Sound Whistler/Pemberton % to Detached ,420 Attached Apartment ,683 Detached 89% 42% 84% 57% 55% 79% 64% 58% 56% 75% 36% 46% 77% 68% 46% 28% Attached 46% 41% 75% n/a 64% 63% 73% 27% 70% 68% 150% 67% 51% 72% 40% 47% n/a Apartment 74% 53% 70% n/a 15% 47% 58% 54% 50% 62% 60% 67% 60% 53% 38% 47% July % to Detached ,688 Attached Apartment ,774 Detached 53% 55% 41% 7% 49% 51% 77% 59% 67% 56% 52% 41% 60% 55% 54% 24% Attached 69% 68% 26% n/a 45% 133% 41% 56% 60% 47% 32% 100% 59% 64% 133% 21% n/a Apartment 49% 43% 76% n/a 45% 47% 63% 49% 43% 50% 29% 38% 68% 64% 38% 26% 2009 % to Detached ,766 Attached Apartment ,014 Detached 68% 81% 98% 31% 89% 71% 88% 78% 61% 89% 78% 56% 69% 88% 67% 28% Attached 93% 66% 157% n/a 84% 121% 63% 88% 80% 78% 40% 57% 75% 104% 73% 29% n/a Apartment 74% 105% 50% 0% 78% 63% 77% 76% 69% 61% 17% 70% 80% 77% 70% 10% Aug. Year-to-date* % to Detached 1,509 1, , , , ,044 2,309 2,336 1, ,089 Attached 1, , , ,183 Apartment 2,497 1, ,232 1, , ,627 6, ,579 Detached 50% 45% 54% 14% 46% 54% 51% 52% 45% 53% 37% 34% 51% 51% 40% 24% Attached 56% 50% 53% 0% 54% 76% 57% 51% 53% 60% 43% 46% 55% 46% 49% 29% n/a Apartment 51% 43% 60% 0% 37% 49% 46% 48% 39% 53% 34% 42% 54% 46% 38% 17% Aug Year-to-date* % to Detached 1,252 1, , , , ,889 1, ,823 Attached , ,479 Apartment 1, , , ,392 5, ,038 Detached 64% 61% 71% 20% 60% 64% 65% 68% 47% 65% 38% 39% 65% 70% 51% 24% Attached 71% 62% 82% 100% 59% 73% 72% 75% 69% 72% 35% 42% 66% 65% 28% 25% n/a Apartment 66% 63% 68% 0% 46% 66% 61% 57% 62% 68% 22% 37% 64% 67% 52% 23% * Year-to-date listings represent a cumulative total listings rather than total active listings.

6 Real Estate Board Greater Vancouver Listing & Activity Summary Col. 2 & Col. 6 & Col. 9 & 10 Aug Jul Aug Percentage Aug Jul Aug Percentage Jun Jun - Percentage 2009 Variance 2009 Variance Aug 2009 Aug Variance BURNABY % % % DETACHED ATTACHED APARTMENTS COQUITLAM DETACHED ATTACHED APARTMENTS DELTA DETACHED ATTACHED APARTMENTS MAPLE RIDGE/PITT MEADOWS DETACHED ATTACHED APARTMENTS NORTH VANCOUVER DETACHED ATTACHED APARTMENTS NEW WESTMINSTER DETACHED ATTACHED APARTMENTS PORT MOODY/BELCARRA DETACHED ATTACHED APARTMENTS PORT COQUITLAM DETACHED ATTACHED APARTMENTS RICHMOND DETACHED ATTACHED APARTMENTS SUNSHINE COAST DETACHED ATTACHED APARTMENTS SQUAMISH DETACHED ATTACHED APARTMENTS VANCOUVER EAST DETACHED ATTACHED APARTMENTS VANCOUVER WEST DETACHED ATTACHED APARTMENTS WHISTLER DETACHED ATTACHED APARTMENTS WEST VANCOUVER/HOWE SOUND DETACHED ATTACHED APARTMENTS GRAND TOTALS DETACHED ATTACHED APARTMENTS

7 Real Estate Board Greater Vancouver Average Graph January 1977 to DETACHED CONDOMINIUM ATTACHED APARTMENTS IN THOUSANDS ($) $999, $551, $430, NOTE: From condominium averages were not separated into attached & apartment.

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