[archited]

at least the weather is nice.

I lived in North Vancouver for a while (just shy of a year) -- the constant winter drizzle drove me to say "never again!" I'm guessing that if you move to that area you will end up missing Edmonton. Edmonton might be cold in winter but it is a dry cold; Vancouver is cold and damp and gloomy most days throughout the entire winter.

 

[EtoV]

I lived in North Vancouver for a while (just shy of a year) -- the constant winter drizzle drove me to say "never again!" I'm guessing that if you move to that area you will end up missing Edmonton. Edmonton might be cold in winter but it is a dry cold; Vancouver is cold and damp and gloomy most days throughout the entire winter.

People might think this is a hot take, but I moved to Vancouver a few years ago, and the seasonal depression because of the lack of direct sunlight in the winter can be very real. The first few years I needed a UV lightbox to keep my sanity. If it wasn't for the much shorter winters in Vancouver, I would much rather take a sunny edmonton winter.

 

[kcantor]

I lived in North Vancouver for a while (just shy of a year) -- the constant winter drizzle drove me to say "never again!" I'm guessing that if you move to that area you will end up missing Edmonton. Edmonton might be cold in winter but it is a dry cold; Vancouver is cold and damp and gloomy most days throughout the entire winter.

there’s a big difference between north vancouver and tsawassen/white rock (south delta) in both rainfall and sunshine…

they also get more than an hour a day more of daylight in the depths of winter.

and yes, it’s a “different cold” but that means you trade layers and a toque for goretex and an umbrella.

from a year round weather perspective however, neither of them compare to san diego or sai paulo or nice… you can always take a short holiday if you want see snow.

 

[JuliallThat]

I'm from the BC lower mainland, I was raised by the rain and I grew up waterlogged. I like the weather here, but I do miss the rain, the grey. People speak about it as if it's always negative, but some of us really do like that omnipresent moisture and those low hanging clouds, it's cozy and it's so fresh.
That said I also love the weather here for different reasons - there's something special about the long winter, where there's snow and ice on everything consistently. I try to enjoy it for what it is, and embrace the uniqueness of the climate. It has its difficulties but on balance I enjoy it. I think living somewhere like California, with mild sunny weather being predominant, would be really boring and unsatisfying.

 

[archited]

^^^^ Boring until a magnitude 7 on the Richter scale strikes!

 

[Garneau2Go]

I lived in North Vancouver for a while (just shy of a year) -- the constant winter drizzle drove me to say "never again!" I'm guessing that if you move to that area you will end up missing Edmonton. Edmonton might be cold in winter but it is a dry cold; Vancouver is cold and damp and gloomy most days throughout the entire winter.

Spent some time living in Brisbane as a kid, the coastal rain doesn't bother me too much haha.

I don't know if I'd miss the cold, but I'd hate to have to get acclimated to it again. If you want a fun time, try and explain to someone who's never seen snow how cold Edmonton gets. "Yeah it can get to -40 without the windchill" tends to shock and awe anyone who's never experienced that kind of weather before.

 

[IanO]

The sun is certainly nice, the rain/grey certainly gets to you and even as someone who is a 'winter person', the reality is that most prefer more temperate climates.

It continues to be a disproportionately significant hurdle/encumbrance; especially for those with means.

 

[archited]

From Postmedia...

• It rains a lot in Vancouver. That's not news, you say? You'd be right, but what you might not know about precipitation in one of the biggest cities in the country is what impact it has on all of us. As Jake Edmiston explains, Canada’s busiest port essentially stops loading grain ships whenever it rains there — which is about 165 days a year — and that's not what they do elsewhere. The resulting backup leads to extra fees, late penalties and higher prices.

 

[David A]

The sun is certainly nice, the rain/grey certainly gets to you and even as someone who is a 'winter person', the reality is that most prefer more temperate climates.

It continues to be a disproportionately significant hurdle/encumbrance; especially for those with means.

I suppose some immigrants to Canada from more temperate climates may gravitate first to parts of Canada with more temperate climates. Although, interestingly I think Canadian retirees to BC generally prefer Vancouver Island or the Okanagan, which are not as rainy or crowded as Vancouver.

However, the biggest problem here is the "with means" part, which probably excludes 80% or more of Canadians.

I suppose if you are selling a property in Hong Kong, or maybe Toronto, you could afford to buy in Vancouver, but I suspect for many from Toronto the idea of cashing out and buying someplace less expensive holds some appeal. Of course a lot of people in the GTA will stay there because of work, family or friends being there, but if you have $500,000 K or more in the bank after relocating you might not mind to shovel snow occasionally or the "dry cold".

 

[IanO]

'Affordability' is one metric, but weight should also be placed on desirability, demand and reputation... the company that you keep.

---
Top 5 Markets

Vancouver, BC remained the priciest market with one-bedroom rent staying flat at $2,500, while two-bedrooms dropped 3.6% to $3,500. Notably, one-bedroom rent in this city is up 19% since this time last year.
2. Toronto, ON was 2nd with one-bedroom rent increasing 1.9% to $2,130, while two-bedrooms grew 1.5% to $2680.

3. Victoria, BC & Burnaby, BC tied for third again with one-bedroom prices in both cities climbing 1% to $2,100.

5. Kelowna, BC ranked as the 5th most expensive with one-bedroom rent increasing 3.2% to $1,960, while two-bedrooms inched up 0.4% to $2,410.

Cities with The Largest Monthly Changes

Upward

–Hamilton, ON moved up 2 spots to become the 11th priciest city and had the largest monthly rent price growth rate, jumping 6.9% to $1,700.

–London, ON was the 14th most expensive market and saw rent climb 5.8% to $1,630.

–Abbotsford, BC rose 2 positions to become 15th with rent growing 4.8% to $1,540.

Downward

–Windsor, ON was the 18th priciest with one-bedroom rent falling 2.2% to $1,360.

–Edmonton, AB moved down 1 spot to become 22nd with rent decreasing 1% to $1,000.

–Winnipeg, MB took a 1 ranking dip to 20th with rent declining 0.9% to $1,060.

Canadian Rent Report

Check out Zumper's latest Canadian Rent Report to learn insight on the most recent rental trends in the 25 largest cities across Canada.

www.zumper.com

 

[soupcrate]

'Affordability' is one metric, but weight should also be placed on desirability, demand and reputation... the company that you keep.

---
Top 5 Markets

Vancouver, BC remained the priciest market with one-bedroom rent staying flat at $2,500, while two-bedrooms dropped 3.6% to $3,500. Notably, one-bedroom rent in this city is up 19% since this time last year.
2. Toronto, ON was 2nd with one-bedroom rent increasing 1.9% to $2,130, while two-bedrooms grew 1.5% to $2680.

3. Victoria, BC & Burnaby, BC tied for third again with one-bedroom prices in both cities climbing 1% to $2,100.

5. Kelowna, BC ranked as the 5th most expensive with one-bedroom rent increasing 3.2% to $1,960, while two-bedrooms inched up 0.4% to $2,410.

Cities with The Largest Monthly Changes

Upward

–Hamilton, ON moved up 2 spots to become the 11th priciest city and had the largest monthly rent price growth rate, jumping 6.9% to $1,700.

–London, ON was the 14th most expensive market and saw rent climb 5.8% to $1,630.

–Abbotsford, BC rose 2 positions to become 15th with rent growing 4.8% to $1,540.

Downward

–Windsor, ON was the 18th priciest with one-bedroom rent falling 2.2% to $1,360.

–Edmonton, AB moved down 1 spot to become 22nd with rent decreasing 1% to $1,000.

–Winnipeg, MB took a 1 ranking dip to 20th with rent declining 0.9% to $1,060.

Canadian Rent Report

Check out Zumper's latest Canadian Rent Report to learn insight on the most recent rental trends in the 25 largest cities across Canada.

www.zumper.com

Rents are decreasing while population is growing at a breakneck clip? That's pretty good news honestly. It is disappointing that new projects will have a harder time pencilling, but this is a problem you want to have.

I personally know 3 people that have moved here from interior BC just in the past few months for the lower rent and job opportunities.

 

[IanO]

Is it?

Depressed rents will stall or be the death knell for some of the proposed rental projects.

Economic growth and in migration will help correct some of this, but this is not 'good news'; being 'cheap' is not something to yell from the rooftops nor pride yourself on as a 'major market'.

 

[David A]

The year over year figures are still positive for a lot of the more expensive markets in Canada, but the reality is they peaked earlier this year and have dropped considerably since then.

Right now there is no more FOMO,. Even worse, they are still unaffordable due to higher interest rates and even if you can buy there now, there is a likelihood of further declines.

Real Estate goes in cycles and we had a long bad cycle here which has probably ended now with the economy recovering. I think some of the over priced markets are about to enter their own bad cycles.

BTW Toronto doesn't always go up. It had quite a nasty decline, I think sometime the 1990's, that also lasted for years and it is probably way overdue for another.

There is a reason smarter money from some of the expensive markets is starting to come here, we are on a totally different cycle than some other parts of the country.

 

[occidentalcapital]

Is it?

Depressed rents will stall or be the death knell for some of the proposed rental projects.

Economic growth and in migration will help correct some of this, but this is not 'good news'; being 'cheap' is not something to yell from the rooftops nor pride yourself on as a 'major market'.

You're missing the reality of market differentiation. The new product continues to command higher rent. The old stock (of which we have in abundance) will keep feeling the pressure.

 

[occidentalcapital]

The year over year figures are still positive for a lot of the more expensive markets in Canada, but the reality is they peaked earlier this year and have dropped considerably since then.

Right now there is no more FOMO,. Even worse, they are still unaffordable due to higher interest rates and even if you can buy there now, there is a likelihood of further declines.

Real Estate goes in cycles and we had a long bad cycle here which has probably ended now with the economy recovering. I think some of the over priced markets are about to enter their own bad cycles.

BTW Toronto doesn't always go up. It had quite a nasty decline, I think sometime the 1990's, that also lasted for years and it is probably way overdue for another.

There is a reason smarter money from some of the expensive markets is starting to come here, we are on a totally different cycle than some other parts of the country.

I agree. Furthermore, with inflation staying high and wages no where near close to keeping up, more are close to breaking point now than ever before. This suggests an increasing trend of people seeking out lower cost markets.