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Vancouver Real Estate: Study Presented To City On Amount of Empty Homes

Condo Of The Week: The Shore - North Vancouver

The issue of homes sitting unoccupied for months or even years on end has become a major concern among Vancouverites.

The City of Vancouver released a report addressing the amount of empty homes—saying there has been no change since 2002.

When compared to other cities—there is about the same amount of empty houses but Vancouver’s costly house market and limited rental opportunities make it more problematic.

The study looked at 225,000 homes in Vancouver and it had these findings:

  • The percentage of unoccupied homes has remained steady since 2002 – about 4.8% for all housing types.
  • 10,800 homes out of the 225,000 studied were empty for one year or more.
  • 90% of the empty homes were condos and apartments.
  • The percentage of empty single-family and duplex properties remains the same as 2002 at around 1%.
  • Census data shows that the percentage of empty apartment and condo units in Vancouver is about the same as other large Canadian cities.

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The City will be looking further into why homes are being left empty and how to fix the issue.

The amount of rentals could be increased by 10% if there weren’t so many unoccupied housing units just sitting there empty.

For more information, view the full report on their website.

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