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North Surrey Homes for Sale

Whalley, Royal Heights, Port Kells, Bridgeview and Fraser Heights are just a few of North Surrey’s communities attracting potential homebuyers. The City of Surrey is very proactive and prides itself on its long-term goals of making the downtown Central Surrey core into something like Yaletown in Vancouver. With plenty of new commercial and residential real estate being developed today, you can literally watch the changes they have in motion on a daily basis. Central Surrey is quickly becoming a hot spot for first time homebuyers, investors, and working professionals who want to leave a greener footprint by using the many public transportation options all throughout the Lower Mainland. Check out our North Surrey MLS listings or call Natasha Taylor of the Taylor Team at 1-778-316-4290 and let our group of experienced North Surrey Sutton real estate agents show you why Surrey has been rated BC’s #1 area to invest in (and the #4 in all of Canada).

About North Surrey BC

North Surrey British Columbia is a great place for the first time buyer, commuter, or for anybody looking to invest in BC real estate. Let our group of experienced Sutton North Surrey real estate agents at The Taylor Team show you why Surrey has been rated the #1 area to invest in BC and the #4 in all of Canada. Whether you are looking to jump on the sky train and head to work with ease or just get into the Surrey real estate market, you definitely can’t go wrong buying here in North Surrey BC. With starter areas like Whalley, to more prestigious residential communities like Fraser Heights, there is much to choose from here in North Surrey.

North Surrey real estate is constantly under development. An extremely large amount of BC condos and new homes are being built in this popular area as well as new commercial buildings.

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For sale
$15,900,000
9072 187 STREET, surrey, British Columbia

9072 187 Street

Surrey, British Columbia

An excellent opportunity to purchase this clean park-like development 5 Acres (254' x 853') parcel, existing residential acreage zoned, not in ALR and no creek, with approved NCP - stage 2 in the Port Kells / Anniedale-Tynehead neighborhood. This property has been zoned recently now for future MEDIUM DENSITY MULTIFAMILY development by City of Surrey. At present basement entry 2300 sq.ft home with double car garage with lots of parking. Central location to Langley & Cloverdale shopping, parks, recreation, elementary school, library and the proposed future Harvie Road/88th Ave commercial core. Great TEMP TRUCK PARKING possibility, conceptual plan attached. Check with City to confirm. Close access to TransCanada Hwy# 1 and Hwy #17 and Golden Ears bridge. (id:48205)

3 Bedroom 2 Bathroom 2300 sqft
For sale
$14,998,600
18208 92 AVENUE, surrey, British Columbia

18208 92 Avenue

Surrey, British Columbia

DEVELOPERS ALERT!! LOCATED NEAR HWY 1, HWY 15 & 96TH. 5 Acres in the desirable Port Kells location and located next to future high density cluster zoning in the Anniedale-Tynehead NCP. Incredible 9,500+ square foot luxury estate with exquisite wood and beam accents contributing to its Whistler cabin design. The home features an open concept kitchen, lots of natural light and an oversized primary bedroom with a double sided fireplace, his/her closets and a walkout balcony with views of the pastures and property. Not to mention, the property has several top end amenities including A OUTDOOR POOL, LARGE DETACHED WORKSHOP, SECOND DETACHED SHOP, TRIPLE CAR GARAGE, SAUNA ROOM AND EXCERSICE ROOM. Please see photos and associated documents for information on this incredible investment opportunity. (id:48205)

5 Bedroom 6 Bathroom 9512 sqft
For sale
$14,900,000
9419 173A STREET, surrey, British Columbia

9419 173a Street

Surrey, British Columbia

Excellent development opportunity to get hold of 2.32 Acres property in the approved NCP of Anniedale - Fleetwood Tynehead. High Density commercial zoned. Rancher rented. Infrastructure services for the whole area under construction by the City of Surrey. Value mainly in Land. COMMERCIAL - CONDO MIX DEVELOPMENT PROPERTY. (id:48205)

3 Bedroom 1 Bathroom 1135 sqft
For sale
$10,500,000
7468 194 STREET, surrey, British Columbia

7468 194 Street

Surrey, British Columbia

Incredible opportunity to add an amazing investment property to your portfolio. Enjoy the country lifestyle in this 3 bedroom 2500 sq.ft sprawling rancher while waiting for futher development. This is one of the best 3.76 acres investment holding properties on the market right next to development! This property also offers a large detached workshop for the Mechanic/Hobbiest at heart. Next door 7484-194th is also for sale for a total of 4.76 Acres. As a bonus, you are close to Maddugh Elementary & Ecole Salish Secondary schools and public transportation. Buy now and hold for future development! (id:48205)

3 Bedroom 2 Bathroom 2562 sqft
For sale
$9,899,990
17723 96 AVENUE, surrey, British Columbia

17723 96 Avenue

Surrey, British Columbia

1.98 acres of flat land designated for IL(light-industrial) use. Two street access from front from 96 Avenue and back from 97 Avenue. 2356 sf recently renovated house with 4 beds and 2 full baths & 2 bedroom separate rental suites. There are two other old sheds in the back of the property. There is a lot of potential to use this land as is while you wait for development. There are a few T.U.P. (temporary use permits) on the same street within a couple of blocks for material storage and truck parks. This property is situated in a very central area with easy access to multiple highways Hwy-1, Hwy-17, Hwy 15, and Golden Ears Way. Don't wait just drive by the area and see what is going on in the area for development. (id:48205)

6 Bedroom 3 Bathroom 2352 sqft
For sale Open House
$9,890,000
18851 74 AVENUE, surrey, British Columbia

18851 74 Avenue

Surrey, British Columbia

Investor alert, 2.58 ac development property, NEW OCP. Solid built 4 bed/4 bath home with over 4,200 sq ft offering full basement with suite potential and bonus room upstairs. You will love the large gourmet kitchen, with huge center island and top of the line stainless appliances. Other great features include infloor heating, security system, steam room, wet bar and updated master ensuite with laundry shoot. Spectacular property with manicured landscaping. Additional Bonus: 32 x 30 separate outbuilding. Located adjacent to West Clayton NCP. Don't miss this incredible opportunity. (id:48205)

5 Bedroom 4 Bathroom 4378 sqft
For sale
$8,100,000
9095 187 STREET, surrey, British Columbia

9095 187 Street

Surrey, British Columbia

5 acres located in the Anniedale NCP. Designated for 10-15 UPA, 2 storey homes and partial park. Future Skytrain extension proposed a stop at 164 St and Fraser Highway which is around 5km away (5-10 minute drive). Highway 1 within close proximity and easy access to the Pacific Highway Border Crossing. Check with the City of future potential. (id:48205)

4 Bedroom 3 Bathroom 2569 sqft
For sale
$7,999,000
9385 173A STREET, surrey, British Columbia

9385 173a Street

Surrey, British Columbia

The art of living is represented in this rare real estate opportunity. 2.31 acres in Tynehead is scheduled for future development in the next 4-6 years. But right now it offers a luxury estate. Precise commitment to creating a luxurious, practical, comfortable and functional space is evident in every part of this magnificent home. A complete list of all the features is available upon request BUT a brief overview is: 3 storey home, walk out unfinished basement, 2 primary bedrooms with one on main floor, space for future elevator, 6 bathrooms, 5 bedrooms, estate sized rooms, 10 foot ceilings on two floors, heated triple garage, two outdoor covered decks and room to park a huge RV in the garage. (id:48205)

5 Bedroom 6 Bathroom 6759 sqft
For sale
$7,900,000
17761 96 AVENUE, surrey, British Columbia

17761 96 Avenue

Surrey, British Columbia

Two properties side by side 1.5 acres + 1 acre = total 2.5 acres of land. Designated for Light Industrial in Anniedale-Tynehead NCP. Both properties combined have 4 buildings (1) +/- 7735 sf 7 year new house (2) +/- 3033 sf 1959 built house (3) +/- 1491 sf 1958 built house (4) +/-1800 sf (56' x 32') shop. Clear land no creak no trees on the both properties. There are few Temporary Use Permits (T.U.P.) in the neighbourhood for material storage and truck parking. Easy access to 4 major Highways. Huge 7735 sf house to live or use as an office while wait for development. There are total 5 rental units on top of the main house which is occupied by the owners. (id:48205)

9 Bedroom 9 Bathroom 7735 sqft
For sale
$7,500,000
8447 192 STREET, surrey, British Columbia

8447 192 Street

Surrey, British Columbia

INVESTORS & DEVELOPERS ALERT: Over 5 acres future potential property from Port Kells: NOT in ALR, with city water, OCP designated as suburban residential, excellent holding property for future development. (id:48205)

2 Bedroom 1 Bathroom 1513 sqft
For sale
$6,800,000
17359 101 AVENUE, surrey, British Columbia

17359 101 Avenue

Surrey, British Columbia

Attention Developers and Investors: Prime Land Assembly 1.33-Acre Lot with Livable Home in Fraser Heights. This rare offering presents a unique opportunity to acquire a sizable land assembly development site in one of Surrey's most sought-after neighborhoods. With the potential to create a comprehensive master-planned community or mixed-use development, investors and developers have the chance to shape the future landscape of Abbey Ridge. Potential to Rezone to RF (8-10UPA), RF (12-15 UPA) or Low/ Medium Density Townhouse Development (15-20UPA). This property is part of a land assembly and must be sold in conjunction with 13 neighboring properties, totaling 14.75 Acres (642,510 SF), with the potential to expand the site to 25.5 Acres by acquiring the remaining 11 neighboring properties. (id:48205)

5 Bedroom 3 Bathroom 3590 sqft
For sale
$6,700,000
9019 187 STREET, surrey, British Columbia

9019 187 Street

Surrey, British Columbia

Investor Alert! Excellent opportuniity to purchase this 5 Acre (254' x 852') Parcel of land with older home and barn. Located on a quiet Street in well sought after area of Port Kells in North Surrey. THIS PROPERTY ZONED-RA with current FARM STATUS APPROVAL, and is NOT IN ALR! Approved NCP - Located in Anniedale Area B - STAGE 2 PLAN. Check with the City of Surrey for Land Use Plan! Central location to Langley/Cloverdale shopping, parks, recreation, elementary school, library and future Harvie Road/88th Ave Commercial Core. Close Access to TransCanada Hwy#1, Hwy#17, Port Mann & Golden Ears Bridge. Please "Do Not Enter or Walk onto Property" without a Confirmed Appointment! (id:48205)

6 Bedroom 2 Bathroom 1670 sqft
For sale
$6,400,000
10146 173 STREET, surrey, British Columbia

10146 173 Street

Surrey, British Columbia

Attention Developers and Investors: Prime Land Assembly 1.12-Acre Lot with a Beautiful Home in Fraser Heights. This rare offering presents a unique opportunity to acquire a sizable land assembly development site in one of Surrey's most sought-after neighborhoods. With the potential to create a comprehensive master-planned community or mixed-use development, investors and developers have the chance to shape the future landscape of Abbey Ridge. Potential to Rezone to RF (8-10UPA), RF (12-15 UPA) or Low/ Medium Density Townhouse Development (15-20UPA). This property is part of a land assembly and must be sold in conjunction with 13 neighboring properties, totaling 14.75 Acres (642,510 SF), with the potential to expand the site to 25.5 Acres by acquiring the remaining 11 neighboring properties. (id:48205)

4 Bedroom 5 Bathroom 5310 sqft
For sale
$6,400,000
17337 101 AVENUE, surrey, British Columbia

17337 101 Avenue

Surrey, British Columbia

Attention Developers and Investors: Prime Land Assembly 1.12-Acre Lot with Livable Home in Fraser Heights. This rare offering presents a unique opportunity to acquire a sizable land assembly development site in one of Surrey's most sought-after neighborhoods. With the potential to create a comprehensive master-planned community or mixed-use development, investors and developers have the chance to shape the future landscape of Abbey Ridge. Potential to Rezone to RF (8-10UPA), RF (12-15 UPA) or Low/ Medium Density Townhouse Development (15-20UPA). This property is part of a land assembly and must be sold in conjunction with 13 neighboring properties, totaling 14.75 Acres (642,510 SF), with the potential to expand the site to 25.5 Acres by acquiring the remaining 11 neighboring properties. (id:48205)

3 Bedroom 3 Bathroom 3396 sqft
For sale
$6,100,000
17420 ABBEY DRIVE, surrey, British Columbia

17420 Abbey Drive

Surrey, British Columbia

Attention Developers and Investors: Prime Land Assembly 1.07-Acre Lot with Livable Home in Fraser Heights. This rare offering presents a unique opportunity to acquire a sizable land assembly development site in one of Surrey's most sought-after neighborhoods. With the potential to create a comprehensive master-planned community or mixed-use development, investors and developers have the chance to shape the future landscape of Abbey Ridge. Potential to Rezone to RF (8-10UPA), RF (12-15 UPA) or Low/Medium Density Townhouse Development (15-20UPA). Breathtaking Mountain Views: Embrace the natural beauty of mountain vistas, creating an idyllic setting for future residences. This property is part of a land assembly and must be sold in conjunction with 13 neighboring properties, totaling 14.75 Acres (642,510 SF), with the potential to expand the site to 25.5 Acres by acquiring the remaining 11 neighboring properties. (id:48205)

3 Bedroom 3 Bathroom 2844 sqft
For sale
$6,100,000
12513 114 AVENUE, surrey, British Columbia

12513 114 Avenue

Surrey, British Columbia

Located on 114 Ave, just off the South Fraser Perimeter Road offering direct access to Delta Port, connecting to all locations in Metro Vancouver via Highways 1, 91 and 99. Excellent future redevelopment potential; ideal for a wide variety of end-users requiring exposure to all major transportation corridors. The subject property has two separate zoning designations, namely I-4 - Industrial (73%) and RF - Residential (27%). Current improvements include a 1,640 square foot main residence and a 1,520 square foot shop with noteworthy recent capex. Please inquire for additional details. (id:48205)

2 Bedroom 1 Bathroom 1640 sqft
For sale
$6,000,000
10276 173 STREET, surrey, British Columbia

10276 173 Street

Surrey, British Columbia

Attention Developers and Investors: Prime Land Assembly 1.07-Acre Lot with Livable Home in Fraser Heights. This rare offering presents a unique opportunity to acquire a sizable land assembly development site in one of Surrey's most sought-after neighborhoods. With the potential to create a comprehensive master-planned community or mixed-use development, investors and developers have the chance to shape the future landscape of Abbey Ridge. Potential to Rezone to RF (8-10UPA), RF (12-15 UPA) or Low/Medium Density Townhouse Development (15-20UPA). Breathtaking Mountain Views: Embrace the natural beauty of mountain vistas, creating an idyllic setting for future residences. This property is part of a land assembly and must be sold in conjunction with 13 neighboring properties, totaling 14.75 Acres (642,510 SF), with the potential to expand the site to 25.5 Acres by acquiring the remaining 11 neighboring properties. (id:48205)

4 Bedroom 3 Bathroom 3554 sqft
For sale
$5,900,000
10182 173 STREET, surrey, British Columbia

10182 173 Street

Surrey, British Columbia

Attention Developers and Investors: Prime Land Assembly 1-Acre Lot with Livable Home in Fraser Heights. This rare offering presents a unique opportunity to acquire a sizable land assembly development site in one of Surrey's most sought-after neighborhoods. With the potential to create a comprehensive master-planned community or mixed-use development, investors and developers have the chance to shape the future landscape of Abbey Ridge. Potential to Rezone to RF (8-10UPA), RF (12-15 UPA) or Low/Medium Density Townhouse Development (15-20UPA). This property is part of a land assembly and must be sold in conjunction with 13 neighboring properties, totaling 14.75 Acres (642,510 SF) with the potential to expand the site to 25.5 Acres by acquiring the remaining 11 neighboring properties. (id:48205)

4 Bedroom 3 Bathroom 2563 sqft
For sale
$5,900,000
10179 174 STREET, surrey, British Columbia

10179 174 Street

Surrey, British Columbia

Attention Developers and Investors: Prime Land Assembly 1-Acre Lot with Livable Home in Fraser Heights. This rare offering presents a unique opportunity to acquire a sizable land assembly development site in one of Surrey's most sought-after neighborhoods. With the potential to create a comprehensive master-planned community or mixed-use development, investors and developers have the chance to shape the future landscape of Abbey Ridge. Potential to Rezone to RF (8-10UPA), RF (12-15 UPA) or Low/Medium Density Townhouse Development (15-20UPA). This property is part of a land assembly and must be sold in conjunction with 13 neighboring properties, totaling 14.75 Acres (642,510 SF), with the potential to expand the site to 25.5 Acres by acquiring the remaining 11 neighboring properties. (id:48205)

3 Bedroom 3 Bathroom 3560 sqft
For sale
$5,900,000
10176 174 STREET, surrey, British Columbia

10176 174 Street

Surrey, British Columbia

Attention Developers and Investors: Prime Land Assembly 1-Acre Lot with Livable Home in Fraser Heights. This rare offering presents a unique opportunity to acquire a sizable land assembly development site in one of Surrey's most sought-after neighborhoods. With the potential to create a comprehensive master-planned community or mixed-use development, investors and developers have the chance to shape the future landscape of Abbey Ridge. Potential to Rezone to RF (8-10UPA), RF (12-15 UPA) or Low/Medium Density Townhouse Development (15-20UPA). This property is part of a land assembly and must be sold in conjunction with 13 neighboring properties, totaling 14.75 Acres (642,510 SF), with the potential to expand the site to 25.5 Acres by acquiring the remaining 11 neighboring properties. (id:48205)

3 Bedroom 3 Bathroom 4158 sqft
For sale
$5,900,000
10218 173 STREET, surrey, British Columbia

10218 173 Street

Surrey, British Columbia

Attention Developers and Investors: Prime Land Assembly 1-Acre Lot with Livable Home in Fraser Heights. This rare offering presents a unique opportunity to acquire a sizable land assembly development site in one of Surrey's most sought-after neighborhoods. With the potential to create a comprehensive master-planned community or mixed-use development, investors and developers have the chance to shape the future landscape of Abbey Ridge. Potential to Rezone to RF (8-10UPA), RF (12-15 UPA) or Low/Medium Density Townhouse Development (15-20UPA). This property is part of a land assembly and must be sold in conjunction with 13 neighboring properties, totaling 14.75 Acres (642,510 SF), with the potential to expand the site to 25.5 Acres by acquiring the remaining 11 neighboring properties. (id:48205)

4 Bedroom 3 Bathroom 3426 sqft
For sale
$5,900,000
10194 173 STREET, surrey, British Columbia

10194 173 Street

Surrey, British Columbia

Attention Developers and Investors: Prime Land Assembly 1-Acre Lot with Livable Home in Fraser Heights. This rare offering presents a unique opportunity to acquire a sizable land assembly development site in one of Surrey's most sought-after neighborhoods. With the potential to create a comprehensive master-planned community or mixed-use development, investors and developers have the chance to shape the future landscape of Abbey Ridge. Potential to Rezone to RF (8-10UPA), RF (12-15 UPA) or Low/ Medium Density Townhouse Residential Development (15-20UPA). This property is part of a land assembly and must be sold in conjunction with 13 neighboring properties, totaling 14.75 Acres (642,510 SF)' with the potential to expand the site to 25.5 Acres by acquiring the remaining 11 neighboring properties. The livable home on the property, offering immediate occupancy or rental income potential during the planning and development stages. (id:48205)

3 Bedroom 3 Bathroom 2490 sqft
For sale
$5,900,000
10230 173 STREET, surrey, British Columbia

10230 173 Street

Surrey, British Columbia

Attention Developers and Investors: Prime Land Assembly 1-Acre Lot with Livable Home in Fraser Heights. This rare offering presents a unique opportunity to acquire a sizable land assembly development site in one of Surrey's most sought-after neighborhoods. With the potential to create a comprehensive master-planned community or mixed-use development, investors and developers have the chance to shape the future landscape of Abbey Ridge. Potential to Rezone to RF (8-10UPA), RF (12-15 UPA) or Low/ Medium Density Townhouse Residential Development (15-20UPA). This property is part of a land assembly and must be sold in conjunction with 13 neighboring properties, totaling 14.75 Acres ((642,510 SF) with the potential to expand the site to 25.5 Acres by acquiring the remaining 11 neighboring properties. Featuring a livable home on the property, offering immediate occupancy or rental income potential during the planning and development stages. (id:48205)

3 Bedroom 3 Bathroom 3522 sqft
For sale
$5,900,000
10159 174 STREET, surrey, British Columbia

10159 174 Street

Surrey, British Columbia

Attention Developers and Investors: Prime Land Assembly 1-Acre Lot with Livable Home in Fraser Heights. This rare offering presents a unique opportunity to acquire a sizable land assembly development site in one of Surrey's most sought-after neighborhoods. With the potential to create a comprehensive master-planned community or mixed-use development, investors and developers have the chance to shape the future landscape of Abbey Ridge. Potential to Rezone to RF (8-10UPA), RF (12-15 UPA) or Low/Medium Density Townhouse Development (15-20UPA). This property is part of a land assembly and must be sold in conjunction with 13 neighboring properties, totaling 14.75 Acres (642,510 SF), with the potential to expand the site to 25.5 Acres by acquiring the remaining 11 neighboring properties. (id:48205)

6 Bedroom 5 Bathroom 4028 sqft
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The data relating to real estate on this web site comes in part from the MLS® Reciprocity program of the Real Estate Board of Greater Vancouver or the Fraser Valley Real Estate Board. Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by the Real Estate Board of Greater Vancouver or the Fraser Valley Real Estate Board which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of the Real Estate Board of Greater Vancouver or the Fraser Valley Real Estate Board.

About The City of

North Surrey

North Surrey is a perfect place for those who may need to commute. Not only is there an abundance of public transportation but you are located only about 25 minutes from downtown Vancouver by car. You also have many access and exit points to North Surrey through the Queensborough Bridge and multiple highway routes.

The community is beginning to develop plenty of luxury developments at much more affordable rates when compared to Burnaby and Vancouver. For penthouse units or condos with city and mountain views in Surrey you are looking at price ranges in the $600,000’s to $700,000’s, $800,000’s, and above. These offer unobstructed panoramic views of the city, the Fraser River, and the Pacific Coast Rocky Mountains making them extremely well priced in comparison to condos with views in Vancouver or Burnaby.

Neighborhoods in

North Surrey

In recent years, North Surrey has continued to grow and new condo and townhouse developments are popping up across town. With recent growth, the community has seen a lot of new custom homes being and young affluent families are beginning to move in.

map of clodverdale neighborhoods

Amenities in

North Surrey

In North Surrey there is also plenty of entertainment and lots of things to do. There is a large mall located just off the Skytrain and an excellent Recreation Centre with a swimming pool, Ice Arenas, Weight Room and Cardio Centre. Within the Rec Centre there are also some great after school programs, youth programs, and classes for adults.

North Surrey is home to some of the most state-of-art recreational facilities in Surrey. Whether you’re looking for indoor gyms, swimming pools, ice rinks or well-maintained outdoor walking trails, North Surrey has it all.

  • North Surrey Sport & Ice Complex
  • North Surrey Community Park
  • North Surrey Recreation Centre
  • Green Timbers Urban Forest
  • Holland Park
There are plenty of elementary and secondary schools located in North Surrey. Many of these schools have an excellent track record.

North Surrey Elementary Schools:

  • Hjorth Road Elementary School
  • Serpentine Heights Elementary School
  • Bonnaccord Elementary School
  • Berkshire Park Elementary
  • Harold Bishop Elementary
  • William F. Davidson Elementary School
  • Riverdale Elementary School

North Surrey Secondary Schools:

  • North Surrey Secondary School
  • Johnston Heights Secondary School
  • Guildford Learning Centre
  • Fraser Heights Secondary School

Private Schools in Cloverdale:

  • Holy Cross Regional High School
  • Surrey Christian School
  • Regent Christian Academy
  • Pacific Academy
North Surrey has an excellent reputation as being one of the best shopping districts in the Fraser Valley. Thousands of non-residents travel across the Fraser Valley each week just to be able to shop here.

  • Guildford Town Centre
  • Central City Mall
  • Cedar Hills Shopping Centre
  • Riverside Heights Shopping Centre

The transportation options in North Surrey continue to improve year after year. With easy access to Downtown Vancouver, its no surprise many commuters live in North Surrey and drive or transit into Vancouver for their jobs.

  • Uber
  • Translink Buses
  • Taxi Service
  • Skytrain

Economic Stats for

North Surrey

The economy in North Surrey continues to grow rapidly across a variety of different industries from finance to medical and education to warehousing. The economy is flourishing across all sectors and is expected to continue for many, many years.

North Surrey’s population has been steadily growing over the last decade. Over the last ten years, we have seen population growth close to 1% year after year, especially in Whalley (the city centre).
Communities like Whalley have lower than average household incomes, but a staggering 11% of the households each in excess of $150,000 per year in household income.

As the community continues to grow we expect the household incomes to increase substantially.

Similar to many other communities within the Fraser Valley, North Surrey has experienced drastic pricing increases, especially in new development projects.

North Surrey April 2021 Price Three Year % Change    
Detached House $1,288,100 30%    
Townhouse $618,800 7%    
Apartment/Condo $452,800 4%    

(From MLS® Home Price Index – Fraser Valley Real Estate Board April 2021.)

 

Residential Property Tax Rate for Surrey from 2018 to 2020
Year Muni. Rate Edu. Rate Total Rate
2020     0.189%     0.123%       0.346%
2019     0.176%     0.114%       0.319%
2018     0.181%     0.116%       0.326%

There are several major economic drivers in North Surrey. While the city has a very diverse economy, there are several large organizations that have been critical to the growth over the last several years.

Simon Fraser University is located in the Central City mall. With over 7,000 university students per semester, this provides a huge economic boost to the surrounding restaurants and retail stores. Kwantlen Polytechnic University has launched a new campus right next door which attracts several thousands more students.

Surrey Memorial Hospital is a high-volume hospital that employs thousands of highly paid and unionized staff. 

 

Rental Potential in

North Surrey

Condos for sale in the core of North Surrey, near the Simon Fraser University Surrey Campus, are a sure bet for rental investments. Today the Taylor Team has sold many of these units to individuals from all over the world who are purchasing these North Surrey condos purely for rental investment purchases. Being that these condos start in the $400,000 price point approximately, the rent literally will pay your mortgage if you need one. Being that all the condos are located within walking distance to the Skytrain, many students without personal transportation love to rent out the condos for the duration of their higher learning, and in some cases we have seen that the graduates stay in these condos as they are quite nice and extremely convenient for the working professional who has to commute into downtown Vancouver.

Before you take the first step in acquiring a real estate investment it is best that you understand the most common costs associated with acquiring and maintaining a rental property.

  • Property Transfer Tax – This is a provincial tax on the transfer of ownership between the seller and buyer. In general, it is 1% – 3% of the fair market value.
  • Lawyer Fees – These fees vary depending on the firm’s rates and whether you will be financing or paying cash for the property. That being said, in general, the cost is approximately $1,000 – $2,000.
  • Property Taxes – All real estate in BC is impacted by property taxes in one way of another. In North Surrey, you can expect to pay around 0.334% of the BC assessment value each year.
  • Strata Fees – If you’re purchasing a property that has a strata corporation, then you can expect to pay a monthly fee to the strata. Most, if not all, apartments, townhomes, and condos have a monthly strata fee. This can range from $200 – $500+ per month.
  • Repairs & Maintenance – Most savvy investors budget 1 – 2 % of the fair market value of the property for repairs and maintenance.
  • Property Management – Who will manage the screening of tenants? What about collect the rents and abide by the BC Tenants Act? Property management companies can manage all of the day-to-day operations for anywhere from a 6 – 10% commission.

North Surrey is a big rental market. There are plenty of savvy investors that understand how lucrative the North Surrey rental market is and they continually invest in new condo projects, townhomes, and detached homes.

Vacancy rates in North Surrey are almost non-existent with the average being between 1-1.5% vacancy at any given time.

As we all know, each neighbourhood and property type will be able to demand rental rates at different rates. So it’s best to speak with a local real estate agent who understands your property and the market demand.

Estimated Monthly Rents:

1 Bedroom – $1,350 – $1,600 per month

2 Bedroom – $1,700 – $2,150 per month

3 Bedroom – $2,200 – $3,400 per month