A new study from real estate firm CBRE has found that shipping containers have become the key to a low- and no-cost solution for low-income people living in housing in Vancouver and Toronto.
The report was commissioned by the Toronto and Vancouver governments and will be presented at a forum on housing in the fall.
It shows that shipping container housing is the preferred way to move people from one area to another.
While the market has become more competitive, shipping containers are still a very viable solution, says Ian McManus, senior vice president at CBRE’s real estate research firm.
“We are seeing a lot of success with this type of housing.
It’s a much more cost-effective way of moving people around the country than what we’ve seen in other parts of the world,” he says.
McManuses research indicates that shipping housing is a key reason why Toronto and the other two cities have seen a jump in housing prices since 2010.
“There is definitely a need for housing and it’s certainly not limited to Toronto, as well,” McManuss says.
“The people moving here are going to the cities in the same way they’re moving elsewhere, so it’s not just one city that is benefiting from it. “
“But it’s very important that we continue to build this infrastructure to allow people to move into housing in this city.” “
The report says that Vancouver’s new housing market is dominated by single-family detached houses and condominiums, with the bulk of units built by the company. “
But it’s very important that we continue to build this infrastructure to allow people to move into housing in this city.”
The report says that Vancouver’s new housing market is dominated by single-family detached houses and condominiums, with the bulk of units built by the company.
“One of the main reasons we’re seeing a shift to a new housing model in Vancouver is that we’ve found that there are very few multi-family houses, condos, and townhouses that are being built,” says McManUS.
The number of single-detached homes has fallen from more than 1,400 in 2006 to just over 300 in 2016.
The average price per square foot has dropped from $2,700 in 2006 and has since dropped to $1,100.
The median price per unit has also dropped, from $3,500 to $2.
“You’re seeing an increase in single-unit construction and an increase of the number and size of condo units, and that’s a key component of that change,” McSweeney says.
The researchers also note that the city is one of the few Canadian cities that does not have a single-storey apartment building.
“What we’ve also seen is that a lot more condo units are being constructed in Vancouver,” McMannus says.
That’s partly because of the availability of developers, but also because of low vacancy rates in the area.
In fact, a recent study found that in the city’s downtown, vacancy rates were more than 30 per cent.
McManna says that this is an area that is seeing a number of residents leave because of housing affordability, particularly in the inner core.
“If we want to see more of these people leaving, then we need to see that the cost of living in the downtown is more affordable than the cost in the suburbs,” he explains.
The findings come as Canada prepares to release its 2017 national housing survey later this month.
The housing market in Canada has been on a rapid pace for some time, and McManussen says that there’s been an increase over the past few years.
He says that a number that is expected to affect the survey are “the number of new residential construction permits that are issued, as we go through the year.”
McManusa says that while many of the housing markets in the country are experiencing a significant uptick in the rental market, Vancouver’s rental market has seen the greatest number of changes in the past year.
The city’s rental vacancy rate has fallen steadily since 2010, and the number has increased every year since 2011.
The province has also started to look at rental prices, and some of the changes that have taken place in Vancouver include the move of many landlords from other regions, McManuse says.
He notes that the provincial government has recently issued a statement on the market that says the rental vacancy rates are too low.
“They’ve been saying that the rate is too low and that it’s a negative indicator,” McMonans says.
“[The province] wants to get back to the fact that rental vacancy is lower than it used to be and it needs to improve its rental rate.
But they’ve been putting out a statement saying that they don’t believe that they’re right.”
McManners study is one part of the ongoing research to determine what is holding back the rental housing market.
“Our research shows that we have a very large amount of housing in transit and that the market is going to continue to grow,” he adds.
“And if we’re going