Vancouver to limit housing pre-sales to locals

City staff to determine how Metro Vancouver residents will get first dibs

People in Metro Vancouver will soon get the first crack at part of Vancouver’s tough housing market.

A motion to limit pre-sales to people living and working in the region passed at a Tuesday city council meeting.

Mayor Gregor Robertson made his pitch for the idea in a video posted to social media to try to help young families buy a home.

According to the Canadian Mortgage and Housing Corporation, Metro Vancouver has a rental vacancy rate of 0.7 per cent, despite 16,452 housing starts between January and August of this year.

Staff are set to bring back a report to Vancouver council on how to implement the plan.


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