A recent survey of Metro Vancouver residents, conducted by rennie intelligence in collaboration with Mustel Group, reveals an expectation of continued housing market opportunities despite challenges that include rising interest rates and high prices.
Key Findings
In the next 6 months:
- 31% of residents are either currently looking for, or plan to start looking for, a home (24% home; 16% investment; 9% both)
- 17% are either currently trying to sell, or plan to sell, a property (home or investment)
In the next 12 months:
- 73% expect mortgage rates to be higher
- 68% expect home values to be higher
- 48% expect it to be a worse time to buy real estate
- 40% expect it to be a better time to sell real estate
In addition:
- 54% believe Metro Vancouver is in a housing bubble
- The most significant reported challenge in buying/selling a home is affordability (64%), followed by a lack of inventory (24%)
About this poll:
This survey was conducted from Oct 27 – Nov 4, 2021 using an online methodology. A total of 800 Metro Vancouver residents 18 years of age or older were surveyed. The results have been statistically weighted to match census stats on the basis of age, gender, and region. The margin of error on a sample size of 800 is +/-3.5, 19 times out of 20.