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

David Eby resists early vote in B.C. despite big byelection wins for NDP

Eby says although his party's candidates did "exceptionally well" on Saturday in the ridings of Vancouver-Mount Pleasant and Langford-Juan de Fuca on Vancouver Island, he'll stick with the fixed election date in October 2024.

David Eby resists early vote in B.C. despite big byelection wins for NDP

B.C. moved ahead with ending letter grades despite parent, teacher, student concerns

Education Minister Rachna Singh said last week that about half of all public school districts have already tested and adopted the new reporting style during a modernization of curriculum that started in 2016, while the rest would implement the change this September.

B.C. moved ahead with ending letter grades despite parent, teacher, student concerns

Province announces 100K in mental health for South Asians

The funding will support three part-time outreach workers and others who will engage South Asians who are homeless or at risk of being homeless. The supports are expected to help between 50 and 75 people who use drugs as well as 150 to 200 family members.

Province announces 100K in mental health for South Asians

Thousands mourn Sikh leader's funeral

Thousands of mourners from the Sikh community descended upon the Guru Nanak Sikh Gurdwara in Surrey on Sunday morning, to pay respects to the Gurdwara president, Hardeep Singh Nijjar. Nijjar was shot mutliple times a week ago in the parking lot of the Gurdwara and killed in his truck.

Thousands mourn Sikh leader's funeral

Advocates urge B.C. leaders to halt planned evictions at Abbotsford, B.C., tent camp

The BC Civil Liberties Association and Pivot Legal Society want Housing Minister Ravi Kahlon to stop any evictions at the Lonzo Park encampment, located on provincially owned land originally intended as a park-and-ride in Abbotsford. The letter reminds Kahlon that several B.C. Supreme Court rulings have found forcible eviction is illegal when other housing options are inadequate.

Advocates urge B.C. leaders to halt planned evictions at Abbotsford, B.C., tent camp

Man in hospital with serious injuries, IIO called in

A man is in hospital with serious injuries and B-C's independent police watchdog -- the Independent Investigations Office -- has been called to the scene. The I-I-O says police say they were called to a report of a potentially impaired driver on Highway 1 through West Vancouver and told investigators there was an exchange of gunfire as they arrived.