Zanyar Farhadi’s Blog
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Updated: Average Vancouver rental prices drops in October, but still up 6.7% over last year
Vancouver remains the most expensive city for renters in Canada, with average prices for one-bedroom and two-bedroom units. However, rental prices in Vancouver and Burnaby have decreased slightly due to a surge in rental listings and new legislation. Despite the temporary drop, experts believe that rental costs will continue to rise in the long term.…
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How Vancouverites are dealing with mortgage rate hikes | Urbanized
From getting a roommate to extending the time they’ll carry a mortgage, Budhwani is one of many Metro Vancouverites thinking of creative ways to avoid selling their home as interest rate increases drive up monthly payments. Borrowers could see a 30 to 40% uptick in monthly mortgage payments, the CMHC warned, and the lion’s share…
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‘Vancouver Plan’ Aims to Accelerate New Housing in BC
The Mayor unveiled a 7-point motion to address Vancouver's housing crisis, focusing on boosting housing supply and reducing barriers.The motion prioritizes new housing construction, higher density around transit hubs, and enforcing short-term rental regulations.
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Vancouver Housing Market Regains Balance
The REBGV notes an increase in new listings that is stabilizing the housing market. September saw 1,926 sales, ↑ 13.2% yearly. However, this figure ↓ 16.1% MoM, ↓ 26.3% below the 10-yr seasonal avg.
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Vancouver’s Income Required to Buy a Home Keeps Increasing
Home prices in major Canadian cities, including Vancouver, have dropped. However, affordability ↓ due to higher stress test requirements. Vancouver's avg home price ↓ $5.1K to $1,203,300 in September.
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Popular Clover Park Gardens Complex?!! Central location across from Fraser Downs & Casino, walk to shops and transit. This is a Hard to find unit that is Perfect for not only a 1st time buyer but also makes an excellent rental as well for investor since both Rentals and pets are allowed in complex.? Spacious…
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Vancouver still Canada’s priciest city for renters, despite modest decrease in average rents: report
The average asking price for rental units in Canada reached $2,178 last month, marking a 9.9% year-over-year increase. This continues a trend of rising rents for six consecutive months. Vancouver remains the most expensive city for renters, followed by Toronto. Rent inflation is driven by price increases in Alberta, Quebec, and Nova Scotia, due to…
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Vancouver’s Late-Q3 Two-Bedroom Rents Squeeze Budgets
Vancouver one-bedroom avg rent in Late-Q3: ↓0.4%% MoM to $2,976 However, two-bedroom avg rent ↑0.7% MoM to $3,908. Avg salary: $63,087 Burnaby's one-bedroom rent: ↑5.7 MoM to $2,700 Two-bedroom: ↓0.6% MoM to $3,411
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Vancouver Proposes Rent Increases for Affordable Housing
Vancouver city staff recommend rent increases for affordable housing to combat shortages. The Moderate Income Rental Housing Pilot Program, launched in 2017, incentivized developers to build affordable rental housing. Proposed amendments suggest rents to ↓ 20% below the avg for Vancouver.
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Vancouver is the worst major Canadian city for housing affordability
House prices in major cities like Vancouver and Toronto have continued to rise despite nominal gains in household incomes and increasing interest rates. Reports from Ratesdotca.com show that Vancouver has the worst affordability differential among Canada’s big cities, with the median household income being only a third of what is needed to buy the average…
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