Vancouver's affordability ranking in 2015 is the worst it has ever been in the 11-year history of the Demographia International Housing Affordability Survey.

Vancouver's affordability ranking in 2015 is the worst it has ever been in the 11-year history of the Demographia International Housing Affordability Survey.
Photo Credit: CP / Darryl Dyck

Vancouver housing second to Hong Kong in “unaffordability”

Vancouver is now number two, following Hong Kong, in most unaffordable housing in the world.

Demographia International’s Housing Affordability Survey has been ranking real estate markets for 11 years.  It covers property values in  Canada, the United States, Australia, China, Ireland, Japan, New Zealand, Singapore and the United Kingdom. In 2015 Vancouver rose to the most unaffordable it has ever been.

New Brunswick was found to be Canada’s most affordable market

The housing markets in Toronto, and in western Canada, Victoria, Kelowna, and the Fraser Valley, all in British Columbia, were also ranked as unaffordable, but did not make it into the Top 10 internationally.

At the other end of the spectrum, Moncton, New Brunswick was found to be Canada’s most affordable market, with the neighbouring cities of Fredericton, and Saint John also very affordable,

The border city of Windsor, Ontario, across the river from Detroit, Michigan was a promising market as was the picturesque city of Charlottetown, in Canada’s tiny island province of Prince Edward Island.

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