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Instead, by the end of 2021, the Canadian Real Estate Association's House Price Index had risen by 26.6%, the fastest annual pace on record. [50] Condominiums accounted for the bulk of new housing in BC (54%) and Ontario (59%), [ 51 ] and investors constituted an increasing share of the buyers of these units (41% in Ontario).
The neighbourhood's residents have an average annual household income of $111,566 ($777,184 in Shaughnessy Heights) and the average house price is $2.89 million, the highest in Vancouver. [ 3 ] [ 4 ] It is also the site of many historical homes, especially in First Shaughnessy.
The City of Vancouver uses neighbourhood boundaries to break up the city's geographic area for delivering services and resources. The 22 official neighbourhoods are as follows: [1] Arbutus Ridge - Located in the middle of Vancouver's west side, characterized by tree-lined streets and heritage homes with large lot sizes.
Bill 28, the Miscellaneous Statutes (Housing Priority Initiatives) Amendment Act, 2016, is a British Columbian law that came into force on August 2, 2016. The law was introduced after calls urging the British Columbia provincial government to intervene in the housing market and curb foreign investment that was seen as a major contributor to the rapid rise in home prices.
The DTES lies a few blocks east of the city's most expensive commercial real estate. [26] Since the mid-2000s, new development in the DTES has brought a mixture of market-rate housing (primarily condominiums), social housing, office spaces, restaurants, and shops. [166] Property values in the DTES area increased by 303% between 2001 and 2013. [167]
Kerrisdale is a neighbourhood in the city of Vancouver, British Columbia, Canada. Kerrisdale is a neighbourhood located in Vancouver's west side. It features a mix of newer houses and older bungalows as well as various low and mid-rise rental and condo apartment buildings in its northern section.