DK RentalA collection of research and reports on the topic of Rental Stats & Trends in the rental property management business around the globe. Read through, see where opportunities are heading and share your opinions.
More stats about the growing political power of renters and geographic breakdown in Vancouver. Vancouver-Granville riding, 52% of households are renters; in Vancouver East, renter households are 60 percent; in Vancouver Quadra, 43 %; the West End 66%; and in Surrey Centre, they account for 46 % of households. In the city of Victoria riding, 53 percent of households are renters.
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63% of eligible voters in BC are mostly renters.
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But COVID-19 seems to have kicked migration to Barrie into high gear and it’s created robust demand for housing. The city has attracted a lot of buyers from the GTA because of its comparatively larger lots, and now single-family homes that sold for $600,000-700,000 a few years ago are pushing $1 million, consequently creating a larger pool of renters.
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Liv.rent's rent analysis is a fair representation of the rent rates across the different municipalities vs. other reports that make it look like the high asking rents in downtown Vancouver are the same across the board. What are your thoughts?
If you read the stats, the problem isn't new as it has been happening for decades. The question is instead of blaming the government and society for the lack of rental housing. How can both the private and public sectors create a viable solution to address the multiple tiers of housing for each demographic group? The fact is that new purpose-built rentals are not "cheap" unless they get subsidized by the government. As buildings age, the maintenance and repair costs increase. A never-ending and challenging problem. Can near and long-term solutions are created by crowdsourcing?
Vancouver continues to attract global tech companies. We are the Silicon Valley of the North. Attracting more highly skilled workers who need rental housing.