Metro Vancouver vacancy remained tight in 2018 while rents soared

Average rents across Metro Vancouver soared 6.2 per cent to an aggregate $1,385 per month in 2018 as a negligible increase in the region’s vacancy rate kept the market tight, the Canada Mortgage and Housing Corp. reported Wednesday.
“This represents the fourth consecutive year the average rents have increased by more than the provincially allowable (rent) increases,” the report said, “which suggests that landlords, through turnover of long-term tenants, are able to increa