Fraser Valley Among Least Affordable Markets In The World – Study

According to a report in the Financial Post, the Fraser Valley is ranked among the least affordable metropolitan markets in the world.

“Although Vancouver was the only Canadian city that made it to the top 10, housing markets in Toronto, Victoria, Kelowna, B.C., and the Fraser Valley in B.C. were also ranked as unaffordable,” says The Post.

According to the international study, “Among all markets, housing in Canada remained moderately unaffordable with a Median Multiple of 3.9. Housing had been affordable overall in Canada as late as 2000.

“Canada’s most affordable market again was Moncton (NB), with a Median Multiple of 2.2. Both Saint John (NB) and Fredericton (NB) had Median Multiples of 2.5. Other affordable markets included Windsor (ON), at 2.8 and Charlottetown (PEI), at 2.9.

“Four of the five least affordable metropolitan markets were in British Columbia. Vancouver was the least
affordable. Victoria ranked second least affordable (6.9), Kelowna ranked fourth least affordable (6.4) and the
Fraser Valley ranked fifth least affordable (6.1). Toronto ranked third least affordable out of all markets in
Canada.”

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The 11th Annual Demographia International Housing Affordability Survey covers 378 metropolitan markets in nine countries (Australia, Canada, China, Ireland, Japan, New Zealand, Singapore, the United Kingdom and the United States). A total of 86 major metropolitan markets — with more than 1,000,000 population — are included, including five of the six largest metropolitan areas in the high income world (Tokyo-Yokohama, New York, Osaka-Kobe-Kyoto, Los Angeles, and London.

11th Annual Demographia International Housing Affordability Survey