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

Sikh community 'reeling' on news of India interference in death: B.C.'s AG says

British Columbia's attorney general says the community is reeling over news that the Canadian government is investigating a link between the shooting death of Sikh leader Hardeep Singh Nijjar and the government of India, although insiders say it's not a surprise. Niki Sharma says the link is shocking and every B.C. resident has the freedom to express their political views without the threat of violence and harm.

Sikh community 'reeling' on news of India interference in death: B.C.'s AG says

15 charged in PNE riots

Vancouver police say 15 people have been charged with mischief for riot-like violence when a headline performer suddenly pulled out of a music festival at the P-N-E last summer. Police say the resulting mayhem and property destruction caused an estimated 300-thousand dollars damage at the P-N-E amphitheatre and in the surrounding neighbourhood.

15 charged in PNE riots

Ukraine President Zelenskyy to visit Canada this week: sources

Ukraine's President Volodymyr Zelenskyy is set to visit Canada this week after stops at the United Nations and the White House. This would be Zelenskyy's first trip to Canada since Russia began its large-scale invasion of Ukraine in February 2022, although the leader delivered a virtual address to Parliament the next month.

Ukraine President Zelenskyy to visit Canada this week: sources

B.C. Sikhs ask for protection after Trudeau links Nijjar killing to India

Trudeau's announcement is spurring calls from B.C.'s Sikh community to better protect its members. British Columbia Premier David Eby is also among those expressing concern. He said Monday he had received a briefing from Canada's spy agency about the "assassination" of Nijjar and was "deeply disturbed" by what he was told.

B.C. Sikhs ask for protection after Trudeau links Nijjar killing to India

B.C. launches 'one-stop shop' for provincial permits needed to build homes

British Columbia's government is aiming to speed up the construction of new homes and secondary suites by releasing new guides and programs to help streamline the process. Premier David Eby says the new Single Housing Application Service, first promised in January, gives builders a clear understanding of the provincial permits needed to build a house so they don't have to navigate the "maze of the provincial government" on their own.

B.C. launches 'one-stop shop' for provincial permits needed to build homes

Canada's inflation rate jumps to 4%, making the BoC's next rate decision harder

Canada's inflation rate jumped to four per cent last month, as economists warn the latest consumer price index report spells bad news for the Bank of Canada. Statistics Canada released its latest inflation reading on Tuesday, which shows the annual rate rose from 3.3 per cent in July, marking the second consecutive month inflation has risen.