Rental Demand

Rental Demand will require construction of 30,000 units in Metro Vancouver…as per Real Estate Roundup columnist Peter Mitham.

  ‘A glance at Statistics Canada data puts the much-discussed Metro Vancouver housing shortage in context. The region has approximately 2.6 people per bedroom (Stats-Can lumps dwellings with five-plus bedrooms together).  This is less than Toronto (2.8 people per bedroom) but more than Montreal (2.4 people per bedroom). Fraser Valley homes are exceptionally cozy with nearly three people per bedroom in Abbotsford-Mission and 3.2 per bedrooms in Chilliwack. The statistics indicate that Abbotsford is also the best place in the Lower Mainland to find households of five or more people living in a studio apartment (more that 4% of units are apparently inhabited this way, versus less that 1% in Vancouver)’

It really would be interesting to see how these stats break-down by sub community. I would certainly say that we do not have 2.6 people per bedroom on the North Shore and would further guess that the West Side also does not have 2.6 people per bedroom. The Tri-Cities would be hard pushed to match that stat, so where does it come from.  I have sent an e-mail to Stats Canada for clarification. Don’t hold your breath for the reply. Maybe I am being naive, is there a concentrated area in Vancouver, where people are stacked one on top of the other. That would have to be the case in order to meet the regions average of 2.6 people per bedroom.

-Patrick

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