BURST
Real estate firm Re/Max Canada has compiled a list of 10 areas in Metro Vancouver that it describes as being “hidden gems” because they offer access to transit, investments in infrastructure, population growth and comparative affordability.
The list includes vibrant neighbourhoods teeming with restaurants and breweries, as well as communities that offer cheaper housing prices — but with some compromises.
Postmedia News reached out to real estate agents on the ground to weigh in on Re/Max’s list, compare some of the so-called gems, talk about their own purchases and what else might be changing in the market:
Bridgeport (Richmond)
Re/Max describes this as an “established neighbourhood with homes averaging 30 years old and located 20 minutes from Steveston, but with strong transit access and prices up to $300,000 lower than Steveston.”
It said the average house price in Bridgeport is $1,069,900.
“It’s not an emerging neighbourhood,” said Adam Wachtel of Re/Max West Coast and Patti Martin Real Estate Group. “It’s saddled by highways and there are streets lined with industrial and commercial businesses. It has homes that are older and can be renovated and are for the price-sensitive. Homes here are substantially less than if you go west of No. 3 Road and into areas such as Terra Nova.”
Ladner (South Delta)
Ladner offers homes that are almost $1 million less than the price of an average Metro home, according to Re/Max. However, the report noted the Massey Tunnel “creates a mental barrier for some due to traffic and infrastructure work.” It said that for flexible commuters, the savings are worth it in a market where the average house price is $1,149,100.
Amy Lambert of the Delta Real Estate Team said it used to be there were higher prices for homes in nearby Tsawwassen compared with Ladner. But now, if you compare non-waterfront properties, they have levelled out to be quite similar. She added her husband commutes to Richmond using the tunnel.
“If there is an accident, it might take extra time, but the commute means you get a less busy and community-minded living space.”
Mount Pleasant East (Vancouver)
The Re/Max report describes Vancouver’s Mount Pleasant East as a “vibrant neighbourhood blending historic charm with modern flair, rising affordability and trendiness,” and “great dining, shops, nightlife and colourful wall murals.” The average house price is $873,933
Wachtel said he bought a condo investment property in Mount Pleasant and thinks this is an emerging market: “It’s close to the new hospital and has diversity and culture.”
Willoughby Heights (Langley)
“Up-and-coming” is how Re/Max describes Willoughby Heights in Langley, as it offers “city access via Highway 1, more space, greater affordability and growing infrastructure, including transit, shops, schools and recreation.” The average house price is $894,516.
Tim Hill of Re/Max All Points Realty said Willoughby Heights is a market for those who are willing to go 15 to 20 minutes on the highway beyond New Westminster and Coquitlam for newer homes.
“There is a lot of commercial development. There is a Tap & Barrel (restaurant) and more is being built,” he said.
Fraser Mills (Coquitlam)
Fraser Mills is a massive, 39-hectare master plan by Beedie Living that was launched just over half a year ago, featuring mostly highrise condos and waterfront access.
Hill said it will unfold over a long time. Re/Max described it as a “promising long-term investment as the area continues to develop” and that house prices range between $732,000 and $1,796,600.
Coquitlam West
This is a land assembly project that is converting industrial space into housing near SkyTrain. Re/Max says the area offers “early investment potential” since transit-connected areas are supposed to be primed for growth.
Hill, however, notes there is a stall, generally speaking, right now for projects like this. Developers are holding back on similar projects as they watch companies, such as Boffo Developments, a long-established company, refunding presale deposits because it couldn’t sell enough units, and would prefer to wait and relaunch in better conditions.
“It’s a glimpse of what it’s like in the trenches. There is uncertainty. Consumer confidence is very important,” said Hill.
Capstan Way (northern downtown Richmond)
Wachtel, who is based in Richmond, said this area of the city is west of Bridgeport and close to the new Capstan SkyTrain Station that opened in late 2024. This is an emerging area, he said.
REMAX said it “offers investment potential with ongoing developments, despite some ownership delays.” The average house price is $899,000.
