New Westminster has five SkyTrain stations and a condo median of $559,950, the cheapest transit-connected entry point in the centre of Metro Vancouver. Here is what each neighbourhood costs.
Written by Hamidreza Etebarian on
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New Westminster has 641 homes for sale at a median asking price of $699,000, and five SkyTrain stations inside its boundaries. That combination makes it the cheapest well-connected city in the middle of Metro Vancouver: a condo here has a median asking price of $559,950 against $699,000 in Burnaby and $809,000 in Vancouver, with the same Expo Line running through it. Homes are also moving faster than the regional average at 53 days. Here is what the city costs by property type and by neighbourhood, and what to check before buying.
New Westminster is the oldest city in British Columbia, and its housing stock reflects that: heritage houses on the hill, mid-century walk-ups, and a large stock of newer towers along the river and around the stations.
Condos make up nearly two thirds of the listings and are the fastest-moving segment at 48 days. Townhouse supply is genuinely thin at 76 listings, which is worth knowing if that is the format you want. Relative to the rest of BC, this is a condo market first and a house market second.
The transit position is the city's structural advantage. Five Expo Line stations sit inside New Westminster: 22nd Street, New Westminster, Columbia, Sapperton and Braid. Columbia is where the two branches of the Expo Line separate, so it is a genuine interchange rather than a stop.
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In practice that means most of the city is within a reasonable walk or short bus ride of rapid transit, which is rare outside Vancouver and Burnaby. It also means condo buyers here are paying Fraser Valley prices for Metro Vancouver connectivity, one of the better trades available in BC right now.
The city is small but the areas differ sharply in age, price and feel.
Age is the main variable in this BC city. A large share of the condo stock predates 2000, and some of it predates 1990. That is not automatically a problem, but it makes the building's financial health the deciding factor rather than the unit itself.
Ask for the depreciation report, the last two years of strata minutes and the contingency reserve balance. A cheap unit in a building facing an envelope replacement is not cheap. Our guide to assessing a condo building before you buy covers exactly what to look for, and the strata fees guide explains what the monthly number should include.
For detached buyers, the hill matters. Many older New Westminster houses sit on steep lots with original drainage, and some have been converted into suites over the years without permits. Confirm the suite is legal under current BC rules before you count on rental income.
New Westminster gives buyers five SkyTrain stations and a condo median of $559,950, which is the strongest price-to-transit trade-off in central Metro Vancouver. Detached housing at $1,599,000 undercuts Burnaby by roughly half a million. The catch is building age, so in this city the strata documents matter more than the finishes.
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