Vancouver ranked second least affordable internationally

Vancouver

Think-tank Demographia’s 10th International Housing Affordability Survey has ranked Vancouver the second least affordable city for the second consecutive year, beat only by Hong Kong. The survey, which considers housing prices and not rental accommodation, states the average single detached home price ($800,000) is 10.3 times the median Vancouver income ($65,000). The study states Vancouver prices to be a function of  “urban containment regulations”, colloquially referred to as densification.

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To read the Demographia survey, click here.