Surrey Real Estate
You'll find gorgeous Surrey real estate situated on the Lower Mainland just south of the Fraser River. Nestled between the Fraser River and the U.S. border, the city has a community of 518,467 (2017 census), making it the second most populated greater Metro Vancouver area after the City of Vancouver and the 12th largest city in Canada. Combining the two residents of Vancouver and Surrey, they make up 50% of the population of British Columbia. The city is also home to one of the most culturally diverse communities in all of Canada, 52.6% of its residents are comprised of visible minorities.
Surrey is very a popular city to live as it's one of the largest industrial centres within BC, it has a flourishing high technology, clean energy, advanced manufacturing, health, education, agriculture, and arts sector. In 2018, Surrey opened a $68 million biofuel facility, the first in North America. With more than 400 green spaces, Surrey is often called the "City of Parks." Surrey is also home to two significant post-secondary educational institutions, Simon Fraser University, and Kwantlen Polytechnic University.
Surrey City Guide
There are a few ways to commute to Vancouver's downtown core, but most suburbanites opt to drive the 42 min (34.1 km). Luckily, Surrey is a part of the regional Translink public transit system. Every twenty minutes, a bus arrives and drops off commuters at the King George Subway Station (17 min ride). From there, it's a 37-minute subway ride to the city centre, totalling an hour travel time. The Expo Line Skytrain unites Surrey to Vancouver, with stops in Burnaby and New Westminster along the way.
There are just seven neighbourhoods in Surrey which include:
- City Centre
- South Surrey
Surrey is somewhat walkable, with a score of 52, some errands can be done by foot. With an average of 1,325 restaurants, bars and coffee shops in the area, residents can walk to an average of 1 restaurant or bar in five minutes.
In comparison to downtown Vancouver, Surrey real estate is more affordable. The average price of a home in the area costs $637,950, whereas in Vancouver the average cost is $669,000.
Surrey Real Estate Market
|Type of Property||Number of Properties|
|Occupied Private Dwellings||169,965|
|An Apartment Building that has Five or more Storeys||6,055|
|Attached Dwelling (Other)||102,375|
|Apartment or Flat in a Duplex||37,535|
|Apartment in a Building that has fewer than Five Storeys||34,560|
|Single-Attached House (Other)||160|
|Dwelling||Average Price ($CAD)|
|House (Mulitple Types)||$669,000|
The average amount of time a home sits on the market is 27 days. According to Zolo, Surrey's top areas to live in are Panorama Ridge, Cedar Hills, Cloverdale bc, Port Kells and Clayton. If being near the downtown core is essential to you, Surrey homes for sale in City Centre (formerly known as Whalley) is most likely the spot for you. Simon Fraser University's Surrey branch is located within the area, along with shopping and rec facilities bustling with young urban professionals.
Another thing that's attractive about Surrey real estate is that all properties within the city are required to be kept looking proper. For example, if there is a house on your street with a broken fence or junk on the lawn, all you have to do is report the home to the city, and it will be taken care of. This helps with maintaining a property for resale and consistent neighbourhood value.
As of December 2010, single-family homes in Surrey are allowed to have a secondary suite within the home. This can be a great option if you are looking to rent out your basement for additional income. As long as it is arranged with the necessary building permits, and you keep on top of the secondary suite utility and service fees (approximately $550 per year) you can legally possess the extra suite!
You'll find a million reasons to purchase Surrey real estate, the area is booming with excitement and growth, and its proximity to neighbouring areas like Vancouver and the United States of America is undoubtedly a sound investment.