Shayne Ramsay, CEO of BC Housing, and Eric Bond, a Principal Market Analyst at Canada Housing and Mortgage Corp, sit down to discuss influencing factors that are impacting the Vancouver housing market, and the effects on first-time home buyers.

This video will examine the trends affecting the Vancouver housing market and provide first-time home buyers with valuable insights that will aid them in their home buying journey.

Key topics covered:

Apart from Covid, what are other current market factors that are having a significant influence on the Vancouver market?

1. Low-interest rates: These types of rates will provide some buyers with more borrowing power, but may lead other first-time home buyers to borrow more than they can afford. Low interest rates can also help the new construction market to create more housing projects.

2. Shift to remote work: Less expensive single detached homes in outlying areas have seen more demand as buyers seek more in-door and out-door space, while similarly-priced condos in more centralized locations have seen less demand. These shifts in consumer preferences and behavior will impact how prices perform in different segment of the market, as well as what type of projects get built in the future.

This video is presented by the Homebuilders Association Vancouver, and sponsored by BC Housing and Associa BC Incorporated.