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News reports yesterday and today focused heavily on a new Statistics Canada report on levels of non-resident housing ownership in Vancouver and Toronto. But the Stats Can study also had details on all of the other communities in Metro Vancouver including the Districts of North and West Vancouver and the City of North Vancouver.
At 7.6%, the City of Vancouver had the highest level of non-resident ownership. Richmond was close behind at 7.5%.
On the North Shore, West Vancouver at 6.2% had the highest level of non-resident ownership while North Van City (3.8%) and District (2.4%), were far down the list.
Details of the report can be found here:
http://www.statcan.gc.ca/daily-quotidien/171219/dq171219b-eng.htm?HPA=1
In the District of North Vancouver this would mean roughly one in 40 homes are owned by a non-resident. The study does not look at the level of property speculation among Canadian residents.
The non-resident ownership is apparently heavily focused on condominiums, particularly high end condominiums.
The impact of non-resident ownership is one of the most heavily talked about issues in the discussion of why housing prices are rising so rapidly. The information for all of the Metro Vancouver local governments is shown below.
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