Housing affordability worsening in Vancouver

A new report says that house prices are still rising and affordability is worsening in Vancouver.

The UDI/Vancity Affordability Index shows the re-sale median price for a single-family house in the city’s closest suburbs is $1.2 million, up $50,000 in just three months. In the city itself the median is $1.77 million and even in the outer suburbs it’s $692,000.

Just 7.4 per cent of households would be able to afford a home in the city, 19.7 per cent in Inner Metro and 47.4 per cent in Outer Metro. Condos in Outer Metro are the most affordable options, the report says

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