MARKET CHAT: SPRING 2013


A Slow Start
This year, the local real estate market started out slowly. Reports have been widely publicized showing that sales are down from 2012 indicating a shift in the overall market. At Polygon, we too experienced a slower start to the year but we’re happy to say that things picked up sharply in March with the arrival of spring.

Looking Ahead
We can’t ignore that next month’s upcoming provincial election may also bring changes to British Columbia. No doubt, we will be hearing much debate in the weeks ahead. But regardless of the outcome, Polygon remains optimistic about the future of our beautiful province as British Columbia continues to be a desirable place to live, work and raise a family.

With this in mind, we’re looking forward to introducing several new communities in the next few months. In South Surrey, we’ll be launching the only townhome collection at our master-planned community of Harvard Gardens. While in North Delta, the highly anticipated Lakeside townhome community will open with “master-on-the-main” plans, particularly popular with downsizers. We’re also excited about Canyon Springs, new apartment residences in North Vancouver’s Lynn Valley neighbourhood. And finally, we’ve just started previewing Shoreline, our latest offering in Vancouver’s sought after River District neighbourhood.

Great Buying Opportunities
As our newest homeowners can attest, there are some great homebuying opportunities in the market today!

For starters, interest rates remain at historic low levels allowing many first-time homebuyers the chance to get into the market. Five-year mortgages can be found as low as 2.89%, although some economists are predicting that rates could increase later this year, as the economic recovery in the United States picks up steam.

Secondly, there is now a wonderful selection of homes at great prices to choose from! Richmond, South Surrey, Langley and Burnaby’s Metrotown are just some of the areas that have an abundance of new homes on the market and many builders have reduced prices to reflect today’s market conditions.

Polygon Sales Strong
Last month, Polygon sold 148 new homes, enjoying our strongest March in over six years! Carrera, our new luxury apartment community in Richmond Centre, celebrated 83 sales and our Mayfair Place residences in Richmond welcomed 20 new homeowners.

On the other side of Metro Vancouver, 21 homebuyers chose a Polygon home in Coquitlam at our Tamarack and Farrington Park communities. Polygon strives to build communities of great value and our recent sales success proves we’re building what today’s market needs.

The Polygon Difference
More than 21,000 families across the Lower Mainland live in a Polygon home. From first-time buyers, young families upsizing, or empty nesters contemplating retirement; more new home- owners in British Columbia start with Polygon.

Whether you are looking for the convenience of an urban apartment or the amenities found in a larger master-planned community – for whatever’s next in your life, start your search with Polygon.

Neil Chrystal
President and Chief Executive Officer
Polygon Homes Ltd.