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New Home Data
Page generated with NHSLive Rental data. For more detailed
rental information, contact info@zondaurban.com for
subscription options.
The majority of the Rental Apartment data referred to herein
as ‘newer purpose-built rental’ relates to purpose built rental
apartment buildings completed since 2010.
Refer to methodology on page 36-37.
INSIGHTS AND COMMENTS
• The overall turnover rate for fully leased rental projects
across Metro Vancouver at the end of Q1-2024 was
at 0.96 percent; 0.24 percent lower than the previous
quarter.
• The overall availability rate for all actively leasing
projects in Metro Vancouver has decreased from 42.3
percent in Q4-2023 to 38.1 percent in Q1-2024 despite
several new projects being released to the market.
• The Outer Metro region had the highest rate of
availability for recently launched purpose-built rental
units at 58.0 percent, with 141 units currently available.
• Average rents for currently available, purpose-built,
concrete rental units increased in the City of Vancouver
by 2.0 percent when compared to Q1-2023.
• Average rents for currently available, purpose-built,
wood frame units increased in the City of Vancouver,
Outer Metro region, and the Inner Metro region by 8.0
percent, 4.9 percent, and 8.3 percent respectively,
when compared to Q1-2023.
• A total of 68,265 purpose-built rental units are currently
in the planning stages throughout Metro Vancouver: 43
percent in the City of Vancouver, 40 percent in the Inner
Metro region, and 17 percent in the Outer Metro region.
Note that current market conditions may influence the
completion of some of these units.