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Disclaimer: This representation is based in whole or in part on data generated by the Chilliwack & District Real Estate Board, Fraser Valley Real Estate Board or Real Estate Board of Greater Vancouver which assumes no responsibility for its accuracy.
Disclaimer: This representation is based in whole or in part on data generated by the Chilliwack & District Real Estate Board, Fraser Valley Real Estate Board or Real Estate Board of Greater Vancouver which assumes no responsibility for its accuracy.
Disclaimer: This is not an offering for sale. Any such offering can only be made by way of disclosure statement. E&OE. The developer reserves the right to make changes and modifications to the information herein without prior notice. Photos and renderings are representational only and may not be accurate.
rennie
landscape
Fall 2024 – Vancouver
Twice a year, rennie intelligence produces the rennie landscape, which tracks a variety of demographic and economic indicators that directly and indirectly influence the housing markets of Metro Vancouver, Greater Victoria, and the Central Okanagan.
the current landscape
"In the spring, we had said that there was a general sense of optimism around real estate and that it was predicated on an expectation that the Bank of Canada would start cutting interest rates. Well, the Bank has indeed been cutting rates, though some of the optimism in the market has faded. At least some of this has to do with an economy that remains in a state of imbalance.”
RYAN WYSE
Market intelligence manager
PODCAST
Listen as rennie's intelligence group takes an in depth look at the fall edition of the rennie landscape.
key insights
checking the
arrear-view
mirror
The mortgage arrears rate in Canada—the proportion of borrowers 90 days or more behind on their mortgage payments—has been on the upswing of late. The good news for Canadians and banks alike, however, is that the overall rate remains very low, sitting well below its pre-pandemic level.
MORTGAGE ARREARS RATE IN CANADA OVER TIME
DATA: MORTGAGE ARREARS RATE, MONTHLY, SELECT PROVINCES & CANADA
a short-term
view on a long-
term vision
British Columbia has instituted short-term rental restrictions—excluding primary residences, secondary suites, and accessory dwellings—in order to increase the availability of long-term housing. The reality, however, is that only 3.8% of the overall housing stock is listed on short-term rental sites and an even smaller proportion of this minimal share is actually suitable for long-term accommodation.
a growing
divide
Over the past two decades Metro Vancouver has seen 45,000 fewer households form than would otherwise have been expected. The source of this household formation deficit is, ultimately, an insufficient supply of new homes— and without an increase in new home construction this deficit is expected to grow.
read the fall 2024 edition of the rennie landscape
