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At Least 57%.pdf

https__assets.cmhc-schl.gc_.ca_sites_cmhc_data-research_publications-reports_rental-market-reports_2020_rental-market-report-69720-2020-en.pdf
Preview of at least 57%
🔗 Source: acorncanada.org
📊 Size: 8.65 MB
👤 Author: Canada Mortgage and Housing Corporation
⬇️ Downloads: 94

Summary

The Vancouver rental market loosened in 2020, with the overall vacancy rate increasing to 2.6% due to higher supply and lower demand. The average rent rose 2.0% to $1,508, with significant differences between market segments and geographies. Newer structures in central areas saw larger increases in vacancy rates, while suburban markets with lower rents saw decreased vacancy rates. The pandemic impacted employment, migration, and students, contributing to lower rental demand. The cost gap between rental and entry-level homeownership remains significant, with entry-level home prices high relative to local incomes. The pace of rent increase slowed due to increased competition and pandemic response measures, but current market rents for vacant units remain 21.4% higher than those paid for occupied units.

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Description

The Vancouver rental market loosened in 2020, with the overall vacancy rate increasing to 2.6% due to higher supply and lower demand.

Technical Information

  • File Format: PDF
  • File Size: 8.65 MB
  • Pages: 165
  • Language: EN
  • Author: Canada Mortgage and Housing Corporation
  • Total Downloads: 94
  • Last Updated: 7 days ago

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