Irri

I have a Canadian passport as my mother was born there.

I moved back to the UK with my girlfriend after 5 years in Sweden and India. We moved here after India as it seemed like the easiest place to go. We've decided to split up and I feel like a new start. I have four months left on my rented apartment here in London. I'm interested in Vancouver. I have about £235'000 which I would like to put into an apartment. I can't decide wether to stick in out in the UK for a while or run off to Canada (I've never been there). Is it a bad time to invest in property in Vancouver? Would I be better off working here for a while and investing in a property in London?

Any thoughts appreciated.

BTJ

Property in Vancouver is astronomically expensive at the moment and I personally would not be buying anything there unless it was for the very long term. Check out www.mls.ca for property in Canada.

Irri

Is it stable though? It can't be any more expensive than London, can it?

ExKiwilass

People have been saying the market is going to crash, in various versions, since the early 2000s. It still hasn't and no one really knows if it will or not.

If you buy something you can afford easily and will be in for a long time, it doesn't matter what the market does (imo). Good luck.

el_richo

I agree with the 2nd part.

Sales in Vancouver have declined for many months in a row and are at its lowest levels for years. I hope for the sake of many people living here a big correction happens, and over the next year or two the chances of that happen are better than they have been for a very long time.

That said, this is Vancouver so whoe knows.

Personally, i would buy in London if it were a toss up between the two over the next few years.

Devil Girl

If it were me then I would be off to Vancouver. Though I would rent before I bought so it would give me chance to find out if I would be happy there.

Irri

Helpful advice.

I guess I don't know if I would stay for a long time so maybe it would be best to rent for a while and either buy in London or keep hold of the money.

Edo

Is investing in a property in London and moving to Van just to experience the place and giving yourself time and decide if it is for you an option?

Irri

I think so. I have enough money to buy something small in London and move to Vancouver. It depends how easy it will be for me to get a job there. I guess I should visit before I move.

el_richo

+1

Your London income could cover your Vancouver rent (depending where and how you choose to live), so enjoy some "free" accommodation

Irri

I doubt I could get more than 1000/month for the sort of house I could buy in London.

JonboyE

It is not the right time to buy in Vancouver unless you know the market really well. There is some money to be made but overall demand is weak and prices are sable or falling. Renting for a year is definitely the way to go if you are not looking at the long-term.

I can't offer any suggestions about whether or not buying in London is a good idea.

el_richo

You can rent a nice little place for $1500 a month in Vancouver. Again, depends on location, size, and lifestyle.

Irri

I guess it might cover the rent, but I'd still be burning capital if I wasn't working. I'm basically going to be burning money for the next 4 months if I don't get a job here (which would lock me to London for a while), I don't want to do the same thing in Canada.

At least I know it's not the right time to buy there.