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The downturn in the Metro Vancouver real estate market has resulted in an estimated paper loss of $89.2 billion for property owners in the past year, according to a new analysis.

The study used assessed values reported in January to estimate the total value of residential properties after the decline in median home prices for all housing types in Metro Vancouver between April 2018 and April 2019.

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From this, it estimated the average loss in total equity value and the estimated average equity loss per household in each area.

• Vancouver, which has the highest number of dwellings at 283,915 dwellings, had a 13 per cent drop in total equity value, a loss of $43.6 billion or $153,873 per household.

• West Vancouver has fewer homes at 16,930, but it had the highest percentage decrease in median value at 14.7 per cent. This is a drop of $7.6 billion in total equity value, or $451,485 per household.

• In Port Coquitlam, where there are 21,755 homes, there was a 10.2 per cent decrease, a drop of $1.5 billion in total equity value or $71,634 per household.