Vancouver Real Estate in Highest Demand Since 2007

Thinking about moving to British Columbia? Be careful when looking in Vancouver, the city's real estate is in the highest demand it's been since 2007.

According to the British Columbia Real Estate Association, both Vancouver and the Fraser Valley are at the top of the housing growth market, with a 16 and 17 percent increase in sales.

In essence, this housing boom means an increase in home prices, because that's how supply and demand works. The average home cost has increased seven percent -- up to $870,000 -- and is expected to grow to almost $900,00 in 2016.

The average price for an apartment has also risen (1.4 percent), coming in at $465,000.

Also, since demand for single family homes in the area is decreasing and apartment rentals increasing, you can expect the construction of more multi-family homes in the future.

Considering a move to Vancouver? Here's everything you need to know about the city before you decide to relocate.