For September 2023, Metro Vancouver’s average rent prices have increased once again, marking six consecutive month-to-month increases beginning in the spring of this year. This month, the average monthly rent price for an unfurnished, one-bedroom unit rose by a further $32, to a new average of $2,438.The region’s average monthly rent price has now increased … Read more
As the summer comes to an end, the Metro Vancouver housing market is experiencing the impact of increased borrowing costs. Price gains are starting to cool down and sales are slowing down, following the seasonal pattern in a predictable manner. “It’s been an interesting spring and summer market, to say the least. Borrowing costs are … Read more
With the B.C. Lower Mainland embracing the summer season, it also welcomes a surge in demand and a subsequent increase in average rent prices for this August. Notably, this comes amidst another hike in the Bank of Canada’s target overnight rate. It is highly likely that this summer will establish new milestones for average rental … Read more
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,455 in July 2023, a 28.9 percent increase from the 1,904 sales recorded in July 2022. This was 15.6 percent below the 10-year seasonal average (2,909). “While sales remain about 15 per cent below the ten-year average, they … Read more
Rental prices in Metro Vancouver have seen yet another increase for the fourth consecutive month. In July, the average rent prices for unfurnished one-bedroom units across the region climbed by an additional $51 compared to the previous month, reaching an average cost of $2,381. Since July 2022, the average rent for unfurnished one-bedroom units in … Read more
Following the prevalent trend observed in the housing market this year, the benchmark price for all types of homes in Metro Vancouver witnessed an increase this June. The surge in homebuyer demand collided with a restricted inventory of homes available for sale in the region. The market continues to outperform expectations across all segments, but … Read more
Although not as dramatic as the previous month, rental rates in Metro Vancouver were still on the rise this June. The average monthly rent for an unfurnished, one-bedroom unit increased for the third consecutive month, adding another $12 to reach a regional average cost of $2,330. Since June 2022, the average rent for an unfurnished, … Read more
Although the year started slower than usual, the Real Estate Board of Vancouver has announced that the Metro Vancouver housing market is steadily picking up as we approach the summer months. This May, the region saw 3,411 residential home sales, a 15.6 percent increase from the 2,947 sales recorded in May of last year, and … Read more
Unfurnished one-bedroom units across the Metro Vancouver region have seen a rise in rent prices, with the exception of Burnaby & Coquitlam. The average rent price in May was $2,318, which is $55 higher than the average price in April of this year. West Vancouver boasted the highest average rental rates for furnished one-, two- … Read more
Although home sales in Metro Vancouver are still lower than expected around this time of year, the housing market has seen a significant increase in activity in the last few months, rising near to levels seen last spring, before eight consecutive interest rate hikes eroded borrowing power and brought home sales activity down along with … Read more
April saw an inverse of the pricing trend we’ve been witnessing since the beginning of the year, with unfurnished one-bedroom homes seeing an increase in the average rental price, while furnished one-bedroom homes saw a decrease in their average rental price. Since April 2022, the average rent for an unfurnished, one-bedroom unit in Metro Vancouver … Read more
For the second month in a row, unfurnished one-bedroom rental prices have dropped across the region of Metro Vancouver, excluding only the communities of Vancouver and West Vancouver, which both saw rental increases for unfurnished one-bedroom units slightly over 2%. According to liv.rent, the average price for an unfurnished one-bedroom unit has fallen by $43 … Read more