The vacancy rate in Vancouver is 5 per cent, in line with other large cities, according to the city council. It found that the rate has been flat since 2002. A study used anonymous data from BC Hydro and analysed energy usage in 225,000 of the city’s 280,000 homes over a 12-year period.
Ecotagious, who carried out the study, estimate that there were 10,800 empty homes at the end of 2014, the majority of them condos. When broken down into property types, single-family detached homes showed a vacancy rate of roughly 1 per cent while condo vacancies were at 12.5 per cent.
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: