Increasing Rental Stock a Priority for Metro Vancouverites

More than three-in-four believe Canada should consider banning most foreigners from purchasing real estate.

Vancouver, BC [November 26, 2018] – Many residents of Metro Vancouver believe more rental units should be made available in the next three years, a new Research Co. poll has found.

In the online survey of a representative sample of Metro Vancouverites, three-in-five (57%) think we need to build more rental units than we did over the three-year period that ended in 2017.

From 2015 to 2017, there were 75,000 new housing units built in Metro Vancouver. Approximately 23 per cent of them were for rental use.

One third of Metro Vancouverites (34%) would like to see more than 75,000 units built in the region over the next three years, while 27% would keep the same pace and 19% believe we should build less.

New Zealand recently passed legislation that bans most foreigners from purchasing real estate in the country. There are exceptions for foreigners who hold residency status in New Zealand, as well as citizens from Australia and Singapore, due to existing free-trade agreements.

Across Metro Vancouver, 77% of residents would support having similar legislation in Canada, that would ban most foreigners from purchasing real estate in the country.

“Metro Vancouverites are of three minds when assessing the current housing crisis,” says Mario Canseco, President of Research Co. “The most supported proposition is a ban on foreign owners, and while a majority would like to see an increase in rental properties, the appetite for increasing the pace of construction is not as high.”

Methodology:

Results are based on an online study conducted from November 24 to November 25, 2018, among 700 adults in Metro Vancouver. The data has been statistically weighted according to Canadian census figures for age, gender and region in Metro Vancouver. The margin of error— which measures sample variability—is +/- 3.7 percentage points, nineteen times out of twenty.

Find our full data set here and download the press release here. 

For more information on this poll, please contact:
Mario Canseco, President, Research Co.
[c] 778.929.0490
[e] mario.canseco@researchco.ca