West Point Grey & UBC
Photo: Ariana Gillrie
Forget any preconceived notions of college towns—this corner of Vancouver is home to some of the city’s priciest real estate ($5.1 million for a single-family home, anyone?), all bordering the largest university in B.C. To the east of campus, snuggled next to beautiful Jericho Beach, is West Point Grey, a primarily residential area with its own little cluster of retail shops and eateries. While visiting the area, hit West 10th Ave. to stroll through local boutiques or grab a bite on your way to the beach.
Real Estate: From Teardowns to the Untouchables
Waterfront walkways, top private schools and ocean-view properties are just a few of the pluses that draw buyers with big bucks—both local and foreign—to West Point Grey. And with teardowns on a standard lot at around $3 million and 50-foot lots over $5 million, it’s easy to see why longtime owners are cashing in. “It’s always been a prestigious neighbourhood,” says realtor Stuart Bonner. “But lately, with the shortage of supply, prices have been driven way up—and only the wealthy can consider being there.” With most of the properties on leasehold land and a major building boom underway, UBC is a different story. There, faculty and students’ parents are steadily buying up freshly built, and comparatively affordable condos, many of which are still in the mid-six digits—although the market dip hit harder there.
Median Age of Residents: 37.6
Average Monthly Rent: $1,280
Avg. Total Household Income: $147,605
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