National

Here are some facts about British Columbia's housing market

Darpan News Desk The Canadian Press, 17 Oct, 2024 10:10 AM

Housing affordability is a key issue in the provincial election campaign in British Columbia, particularly in major centres.

Here are some statistics about housing in B.C. from the Canada Mortgage and Housing Corporation's 2024 Rental Market Report, issued in January, and the B.C. Real Estate Association's August 2024 report.

Average residential home price in B.C.: $938,500

Average price in greater Vancouver (2024 year to date): $1,304,438

Average price in greater Victoria (2024 year to date): $979,103

Average price in the Okanagan (2024 year to date): $748,015

Average two-bedroom purpose-built rental in Vancouver: $2,181

Average two-bedroom purpose-built rental in Victoria: $1,839

Average two-bedroom purpose-built rental in Canada: $1,359

Rental vacancy rate in Vancouver: 0.9 per cent

How much more do new renters in Vancouver pay compared with renters who have occupied their home for at least a year: 27 per cent

Prev Next

MORE National ARTICLES

RCMP confirm Indigenous teen missing in Williams Lake has been found safe

RCMP Staff Sgt. Kris Clark says the 13-year-old is safe. He did not say where she was found. An earlier release from the Williams Lake detachment said she was not believed to have left the Cariboo city.

RCMP confirm Indigenous teen missing in Williams Lake has been found safe

Fire in Vancouver's Kerrisdale neighbourhood destroys or damages five businesses

Vancouver Fire and Rescue Chief Karen Fry says in a social media post that flames broke out before midnight Sunday prompting a three-alarm response to the large fire. The blaze involved five shops on 41st Avenue between Maple Street and East Boulevard, including two restaurants, a bakery, a yogurt shop and a vegetable market.

Fire in Vancouver's Kerrisdale neighbourhood destroys or damages five businesses

Winter tires now required

B-C's winter driving regulations are now in effect. Winter tires or chains are required on most highway routes throughout the province from the start of October to the following spring.

Winter tires now required

2 in hospital after Cloverdale collision

One man is in custody following a collision that sent two pedestrians to hospital yesterday afternoon. The pedestrians, a 24-year-old man and a 24-year old woman, were transported to hospital with serious injuries. A suspect was arrested in the area shortly after the collision.

2 in hospital after Cloverdale collision

Defence minister insists $1B spending reduction is not a budget cut

The country's top soldier and outside experts say that finding almost $1 billion in savings in the Department of National Defence budget will affect the Armed Forces' capabilities, although the defence minister insisted Friday the budget is not being cut.

Defence minister insists $1B spending reduction is not a budget cut

European Union heads to visit Canada amid talks for access to EU science grants

The top heads of the European Union are expected to visit Canada this year, as officials discuss the possibility of Ottawa joining a major research-funding pact. "We are expecting the summit still to take place this year," the EU's ambassador to Canada, Melita Gabric, said Friday.