A two-bedroom unit at Charlton Park in Surrey at 10180 153 Street in Surrey can be rented for $1

Rents, vacancy rates edge up in Lower Mainland

Average Metro Vancouver two-bedroom now costs $1,181

Rents edged up 2.6 per cent in Metro Vancouver over the past year, according to the Canada Mortgage and Housing Corp.

The average rent for a two-bedroom apartment climbed to $1,181 in April, up from $1,150 a year before.

Further east in the Fraser Valley, Abbotsford-area rents climbed 1.9 per cent from $783 to $797.

The provincial average rose 2.1 per cent from $983 to $1,015, CMHC reported.

While prices are up slightly, the latest rental market survey found it’s somewhat easier to find a unit.

Vacancy rates in Metro Vancouver increased from 2.2 to 2.8 per cent and from 3.1 to 3.7 per cent province wide. There was no change in 6.6 per cent vacancy rate in Abbotsford.

CMHC economist Carol Frketich said the rental unit supply rose as tenants in purpose-built apartment buildings bought their own homes or moved into secondary suites or investor-owned condos not covered under the survey.

 

Not your average rental. This 3,000-square-foot three-bedroom penthouse at Cinque Terre on Vancouver’s Beach Avenue rents for $19,500 (per month) and features private elevator and expansive rooftop terrace.

Just Posted

Some Hope school buses will soon have seatbelts

Parents asked to encourage children to comply with new safety rules

Threats to the Fraser River at a ‘new zenith,’ says river conservationist

The ‘Heart of the Fraser’ should be deemed ecologically significant according to ORC statement

Fraser Valley Regional District administration/government costs set to rise by 18%

Mosquito control and fire dispatch costs also set for increase

Man killed in crash due to ‘absolutely treacherous’ conditions on Coquihalla

Winter means icy roads are dangerous and drivers should be careful, RCMP say

Annual Stuff the Cruiser event planned for Saturday in Hope

Bring non-perishable foods to help fill up police car

VIDEO: Federal Liberals’ throne speech welcomes opposition’s ideas

Trudeau will need NDP or Bloc support to pass legislation and survive confidence votes

VIDEO: John Lennon’s iconic Rolls Royce rolls into Vancouver Island college for checkup

Royal BC Museum, Camosun College and Carriageworks Restorations come together to care for car

VIDEO: Rockslide closes part of Highway 93 in Fairmont Hot Springs

Geotechnical team called in to do an assessment after rocks fell from hoodoos

Chilliwack mom gives back to neonatal unit with Christmas stocking drive

Ashley Durance is paying it forward to other families and their babies following daughter’s NICU stay

Petition calls for appeal of ex-Burns Lake mayor’s sentence for sex assault

Prosecution service says Luke Strimbold’s case is under review

Northwest B.C. wildlife shelter rescues particularly tiny bear cub

Shelter co-founder says the cub weighs less than a third of what it should at this time of year

BC firefighters to help battle Australian bushfires

Canada sent 22 people, including 7 from B.C.

B.C. NDP touts the end of MSP premiums

Horgan, James held news conference to reiterate that people will get their last bill this month

Illicit drug deaths down, but B.C. coroner says thousands still overdose

Chief coroner Life Lapointe says province’s drug supply remains unpredictable

Most Read