Dr Sam Mehrbod’s Blog

Vancouver city councillor Christine Boyle plans to introduce a motion to add more housing, shops, and services in the wealthy Shaughnessy neighborhood. Despite current zoning allowing for more density, Boyle believes the current approach isn't working and wants to explore options for more rental and family-sized housing. However, some residents argue that the motion is…

Rental prices in Vancouver dropped in October but are still up compared to last year. The decrease is attributed to cooling weather and an increase in rental listings. However, experts believe this is a temporary shift and will not affect long-term affordability. Vancouver remains the most expensive city for renters in Canada. The average one-bedroom…

Rent prices in Metro Vancouver have decreased for the second consecutive month, but they are still high. The average price for a one-bedroom, unfurnished rental unit in November was $2,362. Prices have not significantly increased compared to last year. West Vancouver has the highest rental prices, followed by the City of Vancouver and North Vancouver.…

A report from rates.ca has found that the gap between the average home price in Vancouver and what the average earner can afford is widening. The median after-tax household income in Vancouver is $86,988, which would allow for a $347,000 house with an insured mortgage of $329,650. However, the average home price in Vancouver is…

Home values in major Canadian cities have decreased, making them less affordable due to higher stress test requirements and increased interest rates. According to Ratehub's latest housing report, the average price of homes in Vancouver has dropped by $5,100 and the income required to qualify for a mortgage increased by $3,900; Toronto saw the largest…

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…

The City of Vancouver has released a new tool, the Project Requirements Exploration Tool (PRET), to quicken permitting times for laneway houses in an effort to address housing supply gaps. This tool is designed to help single-family residential lot owners apply for permits to build secondary rental suites and is part of the three-year Housing…

The Government of Canada has invested $48.5 million for the construction of 104 purpose-built rental homes for residents of Vancouver through the Rental Construction Financing Initiative. This project is fully leased and was completed in June 2021. It is LEED Gold certified and is connected to the False Creek Neighbourhood Energy Utility. The project was…

In October 2023, rent in Vancouver has increased significantly, with the average rent for a two-bedroom apartment reaching $3,908, a 0.7% increase month-over-month and 11.1% year-over-year. Combined with other expenses, the annual amount for a single person in BC is $63,240, leaving little to nothing for a single person with an average salary of $63,087.…

The real estate market in Vancouver is in a state of flux as of October 2023, with buyers waiting for the right time to purchase and sellers struggling to find suitable buyers. The market remains uncertain as the situation continues to evolve. Continue to full article