According to a new study of major property markets, Vancouver has been named the most unaffordable housing market in Canada, and the second most unaffordable in the world.
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The annual survey by Demographia International Housing compares and ranks real estate markets in several countries including Canada, the United States, United Kingdom, Japan, Ireland, New Zealand, Singapore.
Beating out Vancouver for the most unaffordable housing market in the world was Hong Kong.
Looking across the nation, markets in the Fraser Valley, Victoria, Kelowna, and Toronto also made the list, however Vancouver is the only Canadian city that ranks in the top 10. At the opposite end of the scale, Moncton, NB ranks as Canada’s most affordable market followed by Saint John, Frederiction and Windsor, Ontario.
