Price Changes between Vancouver and Fraser Valley

After a couple of years of relative stability in prices in 2012-2014, there was a meteoric rise in detached properties particularly in Vancouver.  This is a chart that shows the rise and fall of Vancouver West detached properties over the last 5 years.

The detached properties in the rest of REBGV and in FVREB domain followed suit but only to a lesser degree leading to a large gap in HPI during the summer of 2016.

Since then, the subsequent decline in Vancouver West detached prices has led to reduction in the difference between the HPI between Vancouver and FVREB.  So far, the FVREB detached property prices are staying stable over the past 1.5 years but it will likely follow REBGV's downward pattern in a few months.