Burnaby, located to the east of Vancouver, is the third-largest city in British Columbia after Vancouver and Surrey. It is a vibrant, diverse, and multicultural city that attracts newcomers from all over, much like the rest of Metro Vancouver. Although it was once known as a bedroom community, Burnaby has now transformed into a metropolis in its own right.
The city has a population of over 260,000 residents and boasts several green parks and community spaces. Geographically, Burnaby is divided into four quadrants: Northwest, Northeast, Southwest, and Southeast. The Trans Canada Highway divides these areas into North-South sections, each of which has one town center and multiple neighborhoods. The four town centers are Brentwood (NW), Lougheed (NE), Metrotown (SW), and Edmonds (SE). The Southwest center of Metrotown is also the Regional Town Center and is currently undergoing a significant transformation that will make it the singular town center for all of Burnaby in the future.
Top Reasons to Consider Living in Burnaby
There are numerous compelling reasons to consider Burnaby as your next place of residence. Here are some of the top reasons:
Location: Burnaby’s strategic location in the region makes it a popular choice for those who desire easy access to urban amenities while still enjoying a more relaxed suburban lifestyle. Moreover, its close proximity to mountains, parks, and lakes provides an abundance of outdoor activities to enjoy.
Diversity: Burnaby is a diverse and multicultural city, home to individuals from a wide range of cultures and backgrounds. This diversity creates a vibrant and lively community, offering opportunities to experience and learn about different cultures.
Education: Burnaby boasts a robust education system, including several top-ranked schools and universities in the area. It is an excellent place to raise a family or pursue higher education. The city’s Simon Fraser University attracts domestic and international students for its highly acclaimed post-secondary programs, while businesses are drawn to its competitive commercial rates and space. Some of the notable companies and head offices located in Burnaby include Electronic Arts, Capcom, Telus, BC Hydro, Amazon, Traction on Demand, Paladin Security, Best Buy, and many others.
Amenities: Burnaby provides an extensive array of amenities, including numerous shopping centers, restaurants, recreational facilities, and cultural institutions. The city is also home to several large parks and outdoor spaces, such as Central Park, Deer Lake Park, and Burnaby Lake Park, making it an ideal location for those who enjoy spending time outdoors. Additionally, the Metrotown, Brentwood, and Lougheed shopping centers offer a diverse range of shopping and entertainment options.
Real Estate: Burnaby offers a broad selection of housing options, from apartments and townhouses to single-family homes. The city’s real estate market has experienced steady growth over the years, making it an attractive place to invest in property.
House Price in Burnaby
According to the latest REBGV numbers, the price of a single-detached house in Burnaby has jumped about 16% in the past year. The highest prices are in the area of Burnaby south, with houses averaging $1.8 million, followed by Burnaby north at $1.75 million and Burnaby east at $1.5 million. Current Burnaby MLS® stats indicate an average house price of $1,064,610 and 567 new listings in the last 28 days. (May 04, 2023)