While many continue to be priced out of Vancouver and the surrounding areas, one neighbourhood is proving popular with those seeking an affordable alternative within commuting distance of the city. Nanaimo on Vancouver Island has homes selling for around a quarter of the average $1.3 million seen in Vancouver. With a drive to attract more businesses and residents to the town, Nanaimo could start to see prices increase but for now it offers the kind of affordability long-gone in Vancouver. “We’re really an annex to Vancouver,” Bernie Dumas, president of the Nanaimo Port Authority told The Star Phoenix. “We’re seeing Nanaimo becoming the backyard of Vancouver.”
More Mortgage Guide
