Vancouver Rental Market Report 2022: Shrinking Vacancy Rates and Evolving Housing Trends

The annual rental market report for 2022 has been issued by Canada Mortgage and Housing Corporation (CMHC). Due in part to increased migration and the high cost of real estate, Vancouver's vacancy rate decreased from 1.2% in 2021 to 0.9% in 2022. This declining trend did not affect the North Vancouver and Kerrisdale districts, where many brand-new, expensive residences entered the market. According to CMHC, many prospective homeowners are still renting since entry-level house prices haven't dropped as fast as buying power.

Original article: https://dailyhive.com/vancouver/vancouver-rental-market-report-vacancy-rate