42 | summer 2016 cmba-achc.ca CMB MAGAZINE
infographics
In response to skyrocketing
detached home prices,
Vancouverites are increasingly
living in condos. Residential
development construction is
propping up BC's economy.
BC accounted for
110,000 of Canada's
144,000 net new jobs
with construction
leading the way.
BC had the highest GDP
growth in the country in
2015, and is expected to
put up strong numbers
in 2016 as well.
Business is Booming
GDP
3.1% 110,000
Jobs
(April 2015 – April 2016)
SOURCE: BMO Financial Group SOURCE: Conference Board of Canada
The ante has been upped.
The dream of owning a home is
getting further out of reach for
even well-off Vancouverites.
Surging home prices and stricter
down-payment rules mean that
it can take over two decades just
to save up for a down payment.
Locals are Ge·ng Fed Up
*Right now, $812,653, the median house price, will buy you a bungalow in New Westminster.
Price not including amount over asking price that many people are now paying.
SOURCE: Code Red: Rethinking Canadian Housing Policy by Paul Kershaw
Median Full Time Earnings
(Age 25–34)
$47,178
$812,653
*
Down payment – 20% of
23
years
2015 2016
Up, up, and away?
Vancouverites seeking relief
from the super-heated single
family home prices won't find it
elsewhere in the market. The
median condo price in Vancouver
is up over 40% since 2014.
Come on. Seriously?
Renters are not immune from price
increases either. Price-to-rent
ratios are way out of whack in
Metro Vancouver. Let's compare
with our neighbours to the south.
SOURCE: Trulia
Source: MLS Data
Vancouver - Condo Median Price
$400K
$300K
$500K
$600K
2014
Vancouver
Price-to-Rent Ratio
36.9
Seattle
Price-to-Rent Ratio
14.5
40%
From an investment point of
view, the lower the ratio the
better. When the ratio gets too
high (20 or more), renting is
usually a better option.
Note
INFOGRAPHICS:
THE
VISUAL
CAPITALIST
