The latest numbers from the Real Estate Board of Greater Vancouver show sales in May were up 14 per cent from this time last year.
There’s also more buyer demand today than at any point over the last three years.
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More young buyers are now relying on their families for financial help to get into the tough market.
A recent survey by BlueShore Financial showed that 76 per cent of parents were considering helping out their children with a “family-financed” mortgage of between $100,000 – $200,000.
The average sale price for condos in the City of Vancouver in 2013 was $585,000. One bedroom condos typically run between $350,000-$400,000 in the downtown core.
— with files from Jas Johal, Global News
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