Spillover Effect Driving Up Prices

(May 12, 2017 )

Even in areas like Kelowna, the spillover effect is being felt. The hot surge of the Vancouver housing market is causing other seemingly unrelated markets to also surge as well - thus the term 'spillover effect'. An average one percent increase in housing prices of Vancouver result in a 0.45 percent increase in surrounding areas such as Burnaby and Richmond, 0.73 percent in the North Shore.