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

B.C. officials warn of lightning-caused wildfires expected this week

Cliff Chapman, operations director for the BC Wildfire Service, said the lightning that's expected to be "widespread" across the province is more likely to hit higher, mountainous terrain, but strikes are also possible in or around communities.

B.C. officials warn of lightning-caused wildfires expected this week

Provincial climate action tax credit being distributed

The finance ministry says payments are set to arrive in the bank accounts of more than two million people after the province increased credit payments to help offset inflation.

Provincial climate action tax credit being distributed

City councillor in Merritt, B.C., struck and killed in apparent hit-and-run: mayor

The mayor of Merritt, B.C., says a city councillor has been killed in an apparent hit-and-run crash outside another community. Mayor Michael Goetz says he understands Coun. Claire Newman had been on her way to meet her husband ahead of a planned trip to Alaska to visit an ailing friend.

City councillor in Merritt, B.C., struck and killed in apparent hit-and-run: mayor

RCMP officer says he forgot to record B.C. murder suspect's arrest after car crash

The police officer who arrested a man accused of murdering a 13-year-old girl found dead in a Burnaby, B.C., park six years ago says no recording of the arrest exists because he forgot to switch on his recorder when a police car crashed into another vehicle at the scene.

RCMP officer says he forgot to record B.C. murder suspect's arrest after car crash

Police warning of scammers posing as Calgary officers to steal thousands of dollars

Calgary police say people can verify an officer’s identity by requesting to see a badge, as well as a badge number and a photo ID card. People can also call the police non-emergency number to verify an officer’s identity.

Police warning of scammers posing as Calgary officers to steal thousands of dollars

Strong home sales continue for Vancouver

The board says that's up 1.3 per cent in a single month -- although it's still more than two per cent below the benchmark price set one year ago. Overall, the board says the housing market "continues to outperform expectations," -- with the apartment or condo market eclipsing slightly slower sales in the townhouse and detached home sectors.