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

Fundraiser for teenager hit by car in Rosedale

Teen suffering multiple fractures and blood clots following incident on Yale Road

Vedder River cleanup nets bag of discarded sex toys

Chilliwack volunteers stumble on unexpected find while removing 600 lbs of trash from riverway

Hikers alert after woman approached by suspicious man in Harrison Mills

The woman and her family were hiking in the wetlands between Rowena’s Inn and Sts’ailes First Nation

Chilliwack International Spring Film Series returns to Cottonwood 4 Cinemas

Put a spring in your step with the Chilliwack International Spring Film Series’ feature titles

EDITORIAL: No think-tank report cards for the Observer

Fraser Institute’s annual school ranking isn’t a good measure of success, editor Grace Kennedy writes

Film crews descend on Agassiz for ‘Republic of Sarah’

Pioneer Avenue will be closed to traffic Monday and Tuesday

Sentencing begins for indecent caller

Vancouver Island man pleaded guilty to making indecent phone and video calls to women across B.C.

Sources say Trudeau rejected Wilson-Raybould’s conservative pick for high court

Wilson-Raybould said Monday “there was no conflict between the PM and myself”

First Nations public art piece stolen in Nanaimo

Spindle Whorl went missing over the weekend, according to Nanaimo RCMP

Father-son duo at B.C. Children’s Hospital helps new dads fight depression

The pair teamed up to introduce the only known research-based mindfulness workshop for new dads

Mexican restaurant in B.C. told to take down Mexican flag

General manager of Primo’s Mexican Grill in White Rock: ‘I’ve never heard of anything like this’

B.C. NDP moves to provide tax credits, tax cut for LNG Canada

Provincial sales tax break of $596 million repayable after construction

COLUMN: Smart phone too powerful a tool to yank from students’ hands

Rather than ban them from schools, let’s teach kids to harness their phone’s power and use it properly

Trudeau sells housing plan in visit to hot real estate market in B.C.

Trudeau said the budget contains measures to help first-time buyers

Most Read