Stats Canada released its housing results from the 2016 Census.
In BC, homeownership rates fell to 68% in last year, that is down almost two points from the 2006 rate of 69.7%.
Analyst, Jeff Randle says fluctuations like this can be quite common.
“The past 10 years has been a period of relative stability following a period of growth from 1991 to through 2006. Periods like this are characterized by minor shift regardless of whether they go up or down.”
The provincial rate is on par with the rest of Canada which is also at 68%.
When we look at the amount of people living in condos, the rate in Canada was a modest 13.3% in 2016.
However, that housing option is becoming quite popular in BC.
“The rate of condominium households in British Columbia is far above the national average at about 22%, which is almost 10 percentage points higher than the national average but this is driven mainly by the condominiums that are in Vancouver and Victoria.”
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