Vancouver’s home prices rated ‘most unaffordable’

“Vancouver is the most unaffordable of the 28 housing markets measured in Canada and the most unaffordable of the 272 metropolitan markets ranked in Ireland, the U.K., New Zealand, Australia, the U.S. and Canada,” the Frontier Centre for Public Policy concluded in its sixth annual Demographia International Housing Affordability Survey.

“[In] Vancouver the median sale value was $540,900 and the median household income was $58,200, giving a Median Multiple of 9.3 — defined as ‘severely unaffordable.’”

Frontier senior policy analyst and Canadian representative David Seymour said in an interview that the Vancouver results weren’t unexpected.

“It wasn’t a great surprise. [Vancouver] was at the top of the list last year as well, or on the bottom of the list, depending on your perspective.”