In a recent survey conducted by the Bank of Montreal it was found that BC residents, alongside their Québécois and Atlantic Canada counterparts are the most unwilling to enter into a bidding war.
According to the survey, only 22 percent of Canadians are interested and willing to get their dream home by engaging in a bidding war. Of these people, half said they were willing to pay up to 110 percent of the asking price. A quarter said they would pay up to 120 percent.
Those in Manitoba and Saskatchewan were the most willing to bid for their homes. About 32 percent said they would enter a bidding war.
In Ontario, 28% of respondents said they would be willing to enter into a bidding war, while in Alberta, 28 percent were.
In BC, 22 percent of those who took the survey were willing to enter a bidding war, followed by those in Atlantic Canada (13%) and finally Quebec (10%).
The study further suggested that just over half (52%) of Canadians would be ready to pay somewhere between 100 percent to 110 percent of the asking price.
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False Creek is the only neighbourhood in Vancouver to actually straddle both east and west sides. Recently the area has received a face lift with new developments like Bosa’s Lido Development. The project is called LEED-gold Lido and is located near Terminal on Quebec.
