The following data is from a report from To Do Canada on the cost of rental units.
These are the average rental rates province wide.
A studio in B.C. costs $1,976 per month, $1,840 in Ontario, and $1,425 in Quebec.
A one bedroom costs $2,217 per month in B.C., $2,238 in Ontario, and $1,679 in Quebec.
A two bedroom costs $2,769 per month in B.C., $2,694 in Ontario, and $2,130 in Quebec.
A three bedroom costs $3,261 per month in B.C., $3,070 in Ontario, and $2,437 in Quebec.
Total population of B.C. is 5,698,430, 16,171,802 in Ontario, and 9,100,249 in Quebec.
Ontario has the highest GDP growth in Canada, with Quebec having the second highest GDP Growth in Canada, and B.C. having the third highest GDP growth in Canada.
From a statistical point of view looking at the population numbers and the GDP numbers, there is a serious problem in the Province of B.C. when it comes to the rental rates that are being charged in B.C. This creates a major effect on people coming to work and live in B.C. Some would say stay away from B.C. We have a mild climate in B.C. in comparison to Ontario and Quebec but that will not make people come to work and live in B.C.
Something for our government in Victoria to think about.
Unbelievable!
Joe Sawchuk
Duncan
