Vancouver’s housing market third most expensive in the world: survey
VANCOUVER — An annual international survey rates Vancouver as the third least affordable housing market on the planet and it also has a warning about Toronto housing.
The 2017 Demographia International Housing Affordability Survey gives Vancouver a rating of 11.8, meaning median home prices are 11.8 times higher than median household income.
Only Hong Kong, with a rating of 18.1, and Sydney, Australia, at 12.2, outstrip Vancouver.
Demographia says housing markets are affordable when median prices are no more than three times higher than median household income.