With rents continuing to rise Vancouver is becoming increasingly unaffordable. 

With a vacancy rate of just 1.8 per cent and rent controls allowing inflation plus 2 per cent, some are finding that they can’t find property they can afford or are just not willing to pay more for less.

A report in the Vancouver Sun highlights the issue through the eyes of a single woman who has taken the decision to move to Montreal to be able to afford to live. Having found Vancouver rentals such as a 500 square foot apartment for $1,500 per month she decided that she’s rather take chance on Montreal’s tougher weather conditions and move.

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: