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We break down the top places buy property in North Shore—one of the most beautiful, affluent and high-priced markets in the country.
The North Shore region encompasses the city of North Vancouver, the district of West Vancouver and their surrounding districts. It stretches from the western edge of West Vancouver to the easternmost part of North Vancouver and is bordered by the mountains and the Burrard Inlet. The region has a population of less than 44,000 and it is one of Canada’s wealthiest communities—right next to the ski resorts of Cypress, Seymour and Grouse. It’s known for its luxury homes, oceanside lifestyle and natural scenery.
For the 2022 edition of Where to Buy Real Estate in Canada, MoneySense partnered with Zoocasa—a full-service tech brokerage—to unveil the North Shore neighbourhoods where prospective home buyers can find the best value and potential for long-term home price growth. The rankings are based on Zoocasa’s analysis of local real estate and housing trends in the area.
If you’re looking outside of North Shore, our guide includes a national ranking of cities and regions, as well as information on the top neighbourhoods in 12 other markets across Canada (tap or click on the menu above to view those articles). The rankings are based on data collected at the end of March 2022, and interviews were conducted in March and April. Read more about our methodology.
To view all the data in the table, slide the columns right or left using your fingers or mouse. You can filter or rearrange the rankings by using the search tool or clicking on column headings. You can also download the data to your device in Excel, CSV and PDF formats.
North Vancouver is where you can find some of the Lower Mainland’s most prominent attractions, including many marinas and beaches, hiking trails and world-class ski slopes. It’s home to 11 kilometres of green space, including the North Shore Spirit Trail and the Green Necklace, which encircles the city.
There is easy access to downtown Vancouver via the Lions Gate Bridge, the Ironworkers Memorial Second Narrows Crossing and the Trans-Canada Highway. There are plenty of business and commercial areas, which employ many people, including the Vancouver Dry Dock and Harbourside Business Park. CN, Neptune Terminals, Honeywell, A&W and some major ship repair companies are headquartered in North Shore. It is also a popular filming spot and home to the film company North Shore Studios.
West Vancouver is the wealthiest community in Canada, with an average net household worth of over $4 million. It’s known for all of its oceanside luxury homes, many of which are worth more than $30 million. Many locals rely on personal vehicles for transportation, but the area is also serviced by West Vancouver Municipal Transit. The city is conveniently the main connection point for the ferry to Vancouver Island. Filled with stunning parks, beaches and coves, this area is one of the country’s most beautiful communities. That also makes it popular for film and television locations. Its natural attractions include the West Vancouver Seawall, Ambleside Park and Whytecliff Park—the latter is known as one of the best places to scuba dive in Canada.
Prior to the pandemic, North Vancouver had seen some slight year-over-year growth, with benchmark prices rising 2.9% to $1,073,200; meanwhile, West Vancouver had seen a 1% dip, bringing the benchmark price to $2,108,000.
“The modest hit to pricing in these areas was partly due to the affordability policies that were introduced to try and cool housing prices in 2018 and 2019,” says local real estate agent Casey Archibald. “These included a 15% foreign buyers’ tax and an out-of-province speculation tax. Sales activity had started to pick back up, however; there were 203 transactions in North Vancouver which was a year-over-year increase of 23%.”
In both North Vancouver and West Vancouver, real estate sales dropped by half at the onset of the pandemic but this reversed by June 2020, as home buyer demand intensified for detached homes in less urban centres—features both areas are known for. Sales growth and prices soared in the following year, and those price gains have continued into 2022. In March, the benchmark price of a home in North Vancouver was $1,418,900, 19% higher than in March of last year ($1,196,100). In West Vancouver, the benchmark price was $2,677,500, compared to $2,486,700 in March of last year, an increase of 8%.
“These price gains occurred mostly because of low interest rates and historically low housing stock. In March 2021, Vancouver hit its highest selling month in its history,” says Archibald. “That low housing stock has really driven competition between buyers, which has meant the prices have soared in a lot of areas. But because of the low interest rates, buyers have seen less risk in purchasing a home and taken that opportunity in the last year.”
“As interest rates climb, it’s likely that we’ll see those price gains become more moderate,” Archibald notes. The historically low inventory has been a large factor in creating a sellers’ market. The spring market saw a slight change, with a growth in inventory offering relief to many buyers looking to break into the market.
“If more stock continues to trickle into the market, then we won’t be seeing the kind of rapid price gains we saw throughout 2021,” Archibald says. “So far this spring, we’re off to a good start with a little more supply coming onto the market. With that being said, certain segments continue to see far more demand than supply.”
North Shore currently remains a sellers’ market, but Archibald is optimistic the situation will continue to change this year as interest rates rise and many employees head back into the office. “Currently, the market is still more beneficial for sellers, but buyers can hold out hope that the rising interest rates and growth in inventory will mean less competition for houses going forward.”
A beautiful seaside village nestled in the heart of West Vancouver, Horseshoe Bay is best known as the location of two B.C. ferry terminals. However, situated at the start of the Sea-to-Sky Highway Route, the area is also a beautiful place to live with stunning views and easy access to BC’s natural beauty. The benchmark price of a home was $2,140,042 in December 2021. At that time, prices were 24% higher than they were one year earlier, 5% higher than three years earlier and 22% higher than five years earlier. And Horseshoe Bay is one of the few places on our list with perfect value and neighbourhood economics scores, earning 5 out of 5, on both measures.
The area offers easy access to the water, for those who love to boat, and to an abundance of local parks, including Whytecliff Park and nearby Lighthouse Park. Another convenient perk includes access to Cypress Mountain for winter skiing and snowboarding and for hiking in the summer. There’s a large number of reputable schools in the area enjoyed by families with children, which represents 45% of all households. The one drawback to Horseshoe Bay is that the area is not known for accessibility—with a score of 0 out of 5.
View Zoocasa real estate listings in Horseshoe Bay.
Known as an extremely desirable location in the Greater Vancouver Area, Upper Caulfeild is full of beautiful single-family homes and new modern townhomes. By the end of 2021, the benchmark price of a home was $2,918,926. Price growth in the area, however, has been somewhat inconsistent. In December, prices were 11% higher than they were one year earlier and 13% higher than three years earlier; however, looking back five years, they have fallen 10%. That growth contributed to its value score of 3.7 out of 5. Meanwhile, for neighbourhood economics, it got 5 out of 5.
The housing stock in Upper Caulfield is filled with large single-family homes that are focused on luxury living, with many offering beautiful water views. Home buyers in search of space can easily find properties with more than three bedrooms. There are a number of beautiful outdoor areas nearby including Caulfeild Park, with its sandy beach area and forested hiking trails. The neighbourhood’s two schools, Caulfeild Elementary and Rockridge Secondary, serve the 45% of households in the area with kids. Like the other neighbourhoods in our top three, Upper Caulfield has an accessibility score of 0 out of 5.
View Zoocasa real estate listings in Upper Caulfeild.
Lions Bay is a small seaside village located between Vancouver and Squamish, B.C., on the shore of Howe Sound. With just over 1,000 residents, the area is a great place to raise kids or live a quiet life away from Vancouver’s hustle and bustle. The benchmark price of a home in Lions Bay was $2,100,746 in December 2021. At that time, prices were 26% higher than they were one year earlier, 47% higher than three years earlier and 34% higher than five years earlier. While that helps give Lions Bay a relatively good value score of 3.4 out of 5, the area got perfect marks for neighbourhood economics, with a solid score of 5 out of 5.
The neighbourhood is surrounded by views of mountains, water, beaches and hiking trails—making it the ultimate location for outdoor enthusiasts. There are a number of golf courses nearby, and the community itself features a small café, an art gallery and a few stores. Residents take advantage of the amenities and shops in nearby West Vancouver. Lions Bay has several small local schools where the neighbourhood’s 45% of households with children send their kids. But, like many areas in The North Shore, this community is not very accessible with an accessibility score of 0 out of 5.
View Zoocasa real estate listings in Lions Bay.
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