While property prices in Vancouver mean buying may not be possible for many, the rental market isn’t an easy option either.
With vacancy rates at just 1.9 per cent and set to tighten next year, finding and affording a rental property can be tough. The new Affordable Housing Agency in the city is working to give more options to middle-income families and planners say 16,000 new rental units are needed by 2021; reports suggest that target is more than half way to being met.
While new buildings are required, many renters choose to stay in older developments that offer cheaper rents, albeit with fewer amenities.
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate
More market watch: