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

Chilliwack Centre of Excellence paddlers make national teams

The CCE athletes battled through four heats at Canadian team trials in Oklahoma.

OPINION: When observation affects what is observed

I’m aware that covering criminal court proceedings can impact lives and sometimes the proceedings too

Crown seeking 30 months for Abbotsford vehicle theft, flight from police, Chilliwack crash

Michael Joseph Hasell has 47 criminal convictions on his record in B.C. and Alberta

BC Ferries to pilot selling beer and wine on select routes

Drinks from select B.C. breweries and VQA wineries to be sold on Swartz Bay to Tsawwassen route

Rainfall warning: Up to 70 mm expected across Fraser Valley

Environment Canada issued a weather warning heading into the long weekend

VIDEO: Alberta man creates world’s biggest caricature

Dean Foster is trying to break the world record for a radio show contest

Langley MP describes most recent diagnosis as a ‘miracle’

Tory Member of Parliament Mark Warawa doesn’t have pancreatic cancer, but operable colon cancer

Man driving wrong way on Highway 17 ‘seriously’ injured after crash: Surrey RCMP

Police say the driver hit a transport truck, then another car after merging from the off-ramp onto highway

Should B.C. lower speed limits on side roads to 30 km/h?

Vancouver city councillor wants to decrease speed limits along neighbourhood side roads

Lawsuit eyed over union-only raise for B.C. community care workers

‘Low-wage redress’ leaves 17,000 employees out, employers say

Landlord of alleged Okanagan shooter recounts deadly day

Tony Friesen was working in one of the units of his Penticton building when he heard shots

Foreign national arrested in connection to thefts at YVR

A woman, 60, is being held in police custody as Richmond RCMP investigate

Police pursue pesky porker on Vancouver Island

‘This was allegedly not the pig’s first escape’

Rare ‘Snow Tower’ tree blooming in Vancouver city park

A plant rarely grown in Canada is now flowering at the Bloedel Conservatory in Queen Elizabeth Park

Most Read