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Mortgage Rates in Surrey

Find your new home in the Metro Vancouver region.

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About Surrey B.C.

Located in B.C.’s Fraser Valley, Surrey is uniquely situated as a port to the Pacific Rim and United States. Home to over 557,000 residents, Surrey has grown substantially over the last 10 years.

Life in Surrey

Surrey is the second-largest city in British Columbia (after Vancouver) and is made up of six major communities known as “town centres:” Whalley/City Centre, Cloverdale, Fleetwood, Guildford, Newton and South Surrey. Each community has something different to offer, from quiet farmland to homes near the beach and active urban areas.

The Housing Market in Surrey

Housing in Surrey is more affordable compared to Vancouver. And given that the city is just 35 minutes away by SkyTrain, many Surrey residents commute to Vancouver for work.

The average home price is just over $855,000 – that’s nearly $355,000 more than the national average, but $170,000 cheaper than neighbouring Vancouver.

Surrey house prices

Central Surrey house prices have fluctuated a great deal since 2015, with one of the biggest increases taking place in July 2016. Since mid-2016, prices have retreated, but are now back to just over $1 million.

Data source: Mortgage Sandbox

Average House Prices in Surrey
Year Average Price
January 2015 $586,200
July 2015 $626,600
January 2016 $690,200
July 2016 $887,800
January 2017 $862,000
July 2017 $988,000
January 2018 $1,014,400
July 2018 $1,054,800
January 2019 $998,100
July 2019 $1,004,100
January 2020 $1,007,500
July 2020 $1,054,400
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