Burnaby, New Westminster and Richmond are three neighbouring cities on the western side of British Columbia, together home to nearly 600,000 people. Burnaby is the largest of the three and has seen a surge in condominium construction in recent years, making the area a frequent choice for buyers looking for transit-oriented, amenity-rich urban living.
What’s included on this page
- Best places to buy real estate in Burnaby, New Westminster and Richmond
- How to read the table
- What happened in these real estate markets?
- What’s next for real estate here?
- The cities’ top three neighbourhoods
- Methodology
Best places to buy real estate in Burnaby, New Westminster and Richmond
Below is a ranked list of top neighbourhoods across these three cities, based on benchmark home prices, recent price growth and neighbourhood attributes such as value, local economics, accessibility and households with children. On smaller screens you can scroll the table horizontally to view all columns; data is available for download in Excel, CSV and PDF formats from the original source.
| Rank | Neighbourhood | ID | City | Benchmark price 2022 | 1-year growth | 3-year | 5-year | Value | Economics | Accessibility | Children |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Westridge | 1 | Burnaby | $1,804,110 | 42% | 61% | 61% | 5.0 | 2.5 | 2.8 | 43% |
| 2 | Steveston | 2 | Richmond | $1,465,910 | 13% | 12% | 11% | 2.4 | 5.0 | 2.8 | 49% |
| 3 | Big Bend | 3 | Burnaby | $1,621,287 | 32% | 59% | 40% | 4.5 | 2.1 | 3.8 | 44% |
| 4 | Willingdon Heights | 4 | Burnaby | $1,473,604 | 17% | 37% | 32% | 3.3 | 3.1 | 3.5 | 35% |
| 5 | Glenbrooke North | 5 | New Westminster | $1,005,218 | 12% | 38% | 40% | 3.8 | 2.5 | 4.3 | 31% |
| 6 | Brentwood | 6 | Burnaby | $840,493 | 8% | 16% | 25% | 3.2 | 3.1 | 3.5 | 35% |
| 7 | Sapperton | 7 | New Westminster | $783,405 | 8% | 24% | 45% | 3.6 | 2.5 | 4.3 | 31% |
| 8 | Edmonds | 8 | Burnaby | $850,571 | 14% | 19% | 30% | 3.6 | 2.1 | 3.8 | 44% |
| 9 | Government Road | 9 | Burnaby | $1,003,474 | 11% | 10% | 11% | 2.8 | 2.5 | 2.8 | 43% |
| 10 | Hamilton | 10 | Richmond | $844,268 | 2% | 12% | 11% | 2.6 | 2.5 | 0.3 | 57% |
Source: Zoocasa
How to read the table
- Benchmark price 2022: The composite benchmark price as of Dec. 31, 2022. It reflects a combined value for all property types—detached, attached and apartment units.
- 1-, 3- and 5-year growth: Percent change in the composite benchmark price over each period.
- Value, Economics, Accessibility: Each is scored 0–5: higher scores indicate better value for money, stronger local economic indicators (income and education) and easier travel by foot, bike or public transit.
- Children: Share of households in the neighbourhood with children.
- See the detailed methodology for full ranking criteria.
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What happened in the real estate markets of Burnaby, New Westminster and Richmond?
All three cities followed the same major national trends in 2022: prices reached record highs, housing supply remained tight, and many potential buyers pulled back as borrowing costs rose. Richmond finished the year as the most expensive of the trio, with an average home price of about $1,093,200 after peaking in April. New Westminster was the most affordable, with an annual average near $781,400.
Inventory pressure and higher interest rates made conditions difficult for many buyers. In New Westminster, for example, single-family homes—often the preferred choice for families—saw strong demand throughout the year. Local real estate professionals noted that limited supply, coupled with interest from both local and foreign buyers, kept competition high.
What’s next for real estate in Burnaby, New Westminster and Richmond?
Condominiums are becoming an increasingly common option for buyers in these cities as house prices and financing costs rise. Condos typically provide a more affordable entry point into high-demand urban centres while offering access to local amenities and transit. Burnaby in particular has seen rapid condo development around transit hubs and the town centre.
Despite interest from buyers, large increases in supply are unlikely in the short term. Longstanding supply constraints across Metro Vancouver—driven by population growth and limited buildable land—mean inventory will likely remain tight for the foreseeable future, even if seller activity picks up.
Top neighbourhoods in other regions
Alberta
• Calgary • Edmonton
Nova Scotia
• Halifax
British Columbia
• Burnaby, New Westminster, Richmond • Coquitlam, Port Coquitlam, Port Moody • Langley, Pitt Meadows, Maple Ridge • North Shore • Vancouver
Ontario
• Durham Region • Halton Region • Peel Region • Toronto • York Region
The cities’ top three neighbourhoods
1. Westridge, Burnaby
Westridge sits on the western slope of Burnaby Mountain and offers excellent access to Barnet Marine Park, with sandy beach areas and views over Burrard Inlet. At the end of 2022 the neighbourhood’s benchmark price averaged $1,804,110—up 42% year-over-year and 61% over five years—earning a strong value rating. Nearly half of households here include children, and the area offers several elementary and secondary schools.
View Westridge real estate listings on Zoocasa.
2. Steveston, Richmond
Located on the southwest tip of Lulu Island, Steveston is a historic waterfront village popular for its fishing heritage and film-friendly streets. The average price there was $1,465,910 at the end of 2022, with moderate year-over-year growth. Steveston scores highly on economic indicators but registers lower on value and accessibility relative to the region’s most central neighbourhoods.
View Steveston real estate listings on Zoocasa.
3. Big Bend, Burnaby
Big Bend is Burnaby’s southernmost neighbourhood along the Fraser River and includes some of the last remaining farmland on the Burrard Peninsula. Its benchmark price was $1,621,287 at the end of 2022, up 32% year-over-year and showing strong three-year gains. The neighbourhood rates well for value, though its economic indicators are more modest.
View Big Bend real estate listings on Zoocasa.
Read more about buying a home
- The best 5-year fixed mortgage rates in Canada
- Watch: What is mortgage affordability?
- What to know about the new first home savings account
- Buying a second home: How it works in Canada
What does the * mean?
Affiliate or sponsored links on this page may generate revenue for the publisher, which helps keep the content available. Editorial coverage is independent of any affiliate relationships.
What type of article am I reading?
This content package was produced by MoneySense in collaboration with Zoocasa and presented with financial support from Ratehub.ca. It was created independently and reflects the data and analysis used in the region rankings.