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Vancouver to limit housing pre-sales to locals

City staff to determine how Metro Vancouver residents will get first dibs
8986125_web1_171018-BPD-M-house-sales

People in Metro Vancouver will soon get the first crack at part of Vancouver’s tough housing market.

A motion to limit pre-sales to people living and working in the region passed at a Tuesday city council meeting.

Mayor Gregor Robertson made his pitch for the idea in a video posted to social media to try to help young families buy a home.

According to the Canadian Mortgage and Housing Corporation, Metro Vancouver has a rental vacancy rate of 0.7 per cent, despite 16,452 housing starts between January and August of this year.

Staff are set to bring back a report to Vancouver council on how to implement the plan.


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katya.slepian@bpdigital.ca

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