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Surrey Mortgage Rates

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About Surrey

The # 1 City in BC to Invest in Real Estate

Located in BC's Fraser Valley, Surrey is uniquely situated as a port to the Pacific Rim and United States, and features two international border crossings and two international airports.

Fun facts

  • Surrey is home to the world's first Peace Arch, which was built in 1921 to celebrate 100 years of peace between Canada and the United States.
  • The city was named after Surrey, England, after reminding New Westminster municipal clerk H.J. Brewer about his hometown in 1879.
  • Surrey is seven years older than Vancouver, and is located only 35 minutes away by SkyTrain rapid transit.

5 Things You Need To Know About Buying In Surrey

1. Looking to buy a detached home? Surrey is considered a more affordable alternative to living in the city of Vancouver with a greater supply of single detached homes under construction, at 533-709 starts in 2014.

2. The average home price in Surrey is $518,000 (the provincial average is $567,300, and $808,000 for Greater Vancouver).

3. Surrey is poised for growth, projected to rival Vancouver's population by 2040. Currently the city is home to 468,251 residents.

4. Geographically, Surrey is a huge city at 1663 square km, large enough to fit Vancouver, Burnaby and Richmond combined. Due to its size, it is a car-centric municipality with some public transit bus services. Owning a vehicle is highly recommended for getting around in the city.

5. Surrey contains offers a unique opportunity for rural living within a city; the region contains one third of the Greater Vancouver Area's farmland.

Frequently Asked Question: Copy: What is the Home Owner Grant, and am I eligible for it?

Governed by the BC Ministry of Finance, the Home Owner Grant can save home owners up to $570 on their property taxes. The grant is applicable to all registered property owners who are Canadian citizens or Landed Immigrants. The grant must be applied for each year once the property tax notice has been received. If filed late, penalty fees may incur on the grant amount.

Surrey Housing Statistics

Conveniently located near Vancouver, Surrey provides a more affordable alternative to commuters, families and those who appreciate an outdoor lifestyle. A larger land mass lends more leeway to a greater number of housing developments in both single and multiple housing categories.

Property Prices: High Quality of Life Index: High
Cost of Living: High Traffic Index: High

Buying Property in Surrey – Important Links

Looking for more information about buying a home and living in Surrey, BC? RateSupermarket.ca recommends the following resources for finding your dream home and community.

Get Greater Vancouver and Surrey regional housing statistics from the British Columbia Real Estate Association.

See the cost of entertainment, dining, transit and more will cost in Surrey with the Cost of Living Index.

Find information about public transit in the City of Surrey.

Looking for a school in Surrey? Find more information about the Surrey board of education and BC school districts.

New to Canada? The City of Surrey Immigrant Settlement Agencies can help you make the city your home.

Your Top Mortgage Questions Answered

Whether you’re a First Time Home Buyer or buying your second, third or fourth home, it pays to compare mortgage rates with Ratesupermarket.ca.