Richmond Real Estate Overview
Real estate prices in Richmond are among the highest in the country, but have recently been showing evidence of decline.
According to the Real Estate Board of Greater Vancouver, the April 2013 benchmark selling price for a single-family detached home in Burnaby was $932,700, which is a decrease of 9.1 percent from April 2012. The benchmark price for an apartment was $347,200.
There are 29 unique neighbourhoods in Richmond. Stevenston Village is a thriving and historic fishing village on the southwest coast. Bridgeport and Cambie East are located right near the Oak Street and Knight Street Bridges providing access to downtown Vancouver. The largest and most exclusive properties can be found in the open country setting of Gilmore.
- Richmond Population (2011)190,500
- 5 Year Population Change9.2%
- Number of Homes in Richmond71,200
Why Buy a Home in Richmond?
Richmond combines all the perks of a coastal community with the amenities of a city.
A fifteen-minute drive outside of Vancouver, Richmond is a bustling urban centre of its own, with plenty of schools, sports facilities, parks, and entertainment venues. The city enjoys a mild climate, with warm summers and little to no snow in the winter. It has a highly diverse population with large numbers of Chinese, South Asian, and Filipino individuals.
A study by Canadian Living Magazine named Richmond "The Healthiest City in Canada." With unfettered access to the ocean air, an extensive network of trails, and vast expanses of farmland, it's easy to see why.
Explore Richmond's Rich Cultural Heritage
Like other cities along the Fraser River Delta, Richmond was first inhabited by Coast Salish peoples, who fished, farmed, and hunted in the area long before the arrival of Europeans.
The first European settlers similarly took advantage of the region's waters and fertile land, establishing farm and fishing villages around the coast. The name Richmond is thought to have come from the farmstead of Hugh McRoberts, which had been named after an area in Australia.
Richmond was incorporated as a municipality in 1879. The thriving fishing and agricultural industries attracted migrants from as far away as Asia, contributing to the community's ethnic diversity. It became a city in 1990, and remains a significant multicultural centre with the highest immigrant population in Canada at 60%.
Getting around in Richmond
Richmond is connected to Vancouver by a series of tunnels and bridges. The TransLink system operates in Richmond, with bus and rail connections to Downtown Vancouver, Surrey, Burnaby, and other areas of Metro Vancouver. The Canada Line - part of the scenic and sophisticated SkyTrain rail line - can get you to Downtown Vancouver in 25 minutes.
Two highways pass through Richmond - the 91 and 99. Highway 99 is frequently used by Vancouver commuters, crossing the river at the Oak Street Bridge.
Many shared and off-road bike lanes are available on major streets. A large number of scenic trails wind along the coast and through the city's parks.
Shopping and Amenities
Shoppers will feel like they've died and gone to heaven in Richmond. Aberdeen Centre offers a one-of a kind multicultural shopping experience, with over 160 vendors. The Lansdowne Centre features all your favourite brand-name retailers, while quaint seaside shops can be found in Stevenston Village.
Multiple community centres and sports facilities are located throughout the city, including the Richmond Ice Centre, Minoru Aquatic Centre, and West Richmond Community Centre in Hugh Boyd Park - which boasts a fitness centre, gymnasium, tennis courts, soccer field, mini golf course, and more.
Richmond has 10 secondary schools and 38 elementary schools. It's also home to campuses of Kwantlen Polytechnic University and the British Columbia Institute of Technology.
Entertainment and Attractions in Richmond
Richmond's large and diverse culture supports a variety of exciting events and attractions.
Major cultural venues in the city include the Richmond Art Gallery, Richmond Museum, Stevenston Museum, and Gateway Theatre. The River Rock Casino is the largest casino in B.C., with a myriad of gaming, dining, and entertainment options.
The Richmond Sockeyes Junior B hockey team play their home games at the Minoru Arena. Numerous bars, restaurants, and clubs can be found in the downtown centre or in nearby Vancouver.
Celebrate the city's maritime heritage at the Stevenston Salmon Festival on Canada Day or the Richmond Maritime Festival in August - featuring live entertainment, ships, and exhibits.