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BIZMAP Market Area Profiles DOWNTOWN VANCOUVER NEIGHBOURHOOD PROFILE 2016 1 OVERVIEW Vancouver’s downtown is the heart of the city and is home to one of Canada’s premier entertainment and financial districts. It has a vibrant arts and culture community, and some of the City’s finest and most popular restaurants. With over 8,000 businesses and an employee base of 150,000 people, it is the largest employment centre in all of Metro Vancouver. With a perfect balance of business and pleasure, and residential and commercial, downtown Vancouver complements its surrounding communities, including the West End, Yaletown, Gastown, Robson Street and Chinatown. Almost 40,000 people have moved into the primary downtown Vancouver residential catchment area in the last ten years. Downtown Vancouver is an essential destination for the nine million people who visit Vancouver annually. The Downtown Vancouver Business Improvement Association (DVBIA) is Vancouver’s largest BIA, spanning 90 blocks with boundaries that extend from Pacific Boulevard to Coal Harbour (north-south), along Burrard Street (to Robson Street) and Jervis Street in the west, and along Richards Street in the east (extending to Hamilton Street between Smithe and Pender Streets (Figure 1). Downtown Vancouver has one of the most beautiful natural backdrops in the world, with expansive views of the Burrard Inlet, North Shore mountains, and False Creek, and remains a popular place to live. Major multi-story condominium towers continue to be developed, many of which have street-level townhouses combined with a tower behind – an architectural model that Vancouver has become famous for. Downtown is the most walkable neighbourhood in Vancouver, making it easy for residents to access services, restaurants and entertainment. The area is a draw for young, urban professionals – an apt description of the some 100,000 people (and growing) who call downtown Vancouver home. The residential population has grown at almost four times the rate of the Vancouver average in the last five years. With residential housing stocks on the downtown peninsula continuing to be developed, it is anticipated that these trends will continue. FAST FACTS » Residential population increase of 27 per cent over the last five years, compared to seven per cent in Vancouver and 12 per cent in Metro Vancouver. » A young community with lower than average household size: 1.5 people, as compared with 2 in Vancouver and 2.3 in Metro Vancouver. » Highly educated residents with 53 per cent holding at least a Bachelor’s Degree. » Dominant language: English (76 per cent list as primary home language). » Most common origin of residents: English, Scottish, Irish, Canadian and Chinese. » Average household income of $81,298, as compared with $92,899 and $96,209 for Vancouver and Metro Vancouver respectively. » Only 33 per cent of households are homeowners (vs. 49 per cent in Vancouver and 66 per cent in Metro Vancouver). » Almost 100 per cent of homes are apartments and condos in Downtown Vancouver, compared with 61 per cent in Vancouver and 41 per cent in Metro Vancouver. » Average price of an apartment/condo is $570,417 (vs. $473,500 in Vancouver and $435,000 in Metro Vancouver). PHOTO: DOWNTOWN VANCOUVER BIA

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Page 1: DOWNTOWN VANCOUVER BIZMAP

BIZMAPMarket Area Profiles

DOWNTOWN VANCOUVERNEIGHBOURHOOD PROFILE

2016

1

OVERVIEW

Vancouver’s downtown is the heart of the city and is home to one of Canada’s premier entertainment and financial districts. It has a vibrant arts and culture community, and some of the City’s finest and most popular restaurants. With over 8,000 businesses and an employee base of 150,000 people, it is the largest employment centre in all of Metro Vancouver.

With a perfect balance of business and pleasure, and residential and commercial, downtown Vancouver complements its surrounding communities, including the West End, Yaletown, Gastown, Robson Street and Chinatown. Almost 40,000 people have moved into the primary downtown Vancouver residential catchment area in the last ten years. Downtown Vancouver is an essential destination for the nine million people who visit Vancouver annually.

The Downtown Vancouver Business Improvement Association (DVBIA) is Vancouver’s largest BIA, spanning 90 blocks with boundaries that extend from Pacific Boulevard to Coal Harbour (north-south), along Burrard Street (to Robson Street) and Jervis Street in the west, and along Richards Street in the east (extending to Hamilton Street between Smithe and Pender Streets (Figure 1).

Downtown Vancouver has one of the most beautiful natural backdrops in the world, with expansive views of the Burrard Inlet, North Shore mountains, and False Creek, and remains a popular place to live. Major multi-story condominium towers continue to be developed, many of which have street-level townhouses combined with a tower behind – an architectural model that Vancouver has become famous for. Downtown is the most walkable neighbourhood in Vancouver, making it easy for residents to access services, restaurants and entertainment.

The area is a draw for young, urban professionals – an apt description of the some 100,000 people (and growing) who call downtown Vancouver home. The residential population has grown at almost four times the rate of the Vancouver average in the last five years. With residential housing stocks on the downtown peninsula continuing to be developed, it is anticipated that these trends will continue.

FAST FACTS

» Residential population increase of 27 per cent over the last five years, compared to seven per cent in Vancouver and 12 per cent in Metro Vancouver.

» A young community with lower than average household size: 1.5 people, as compared with 2 in Vancouver and 2.3 in Metro Vancouver.

» Highly educated residents with 53 per cent holding at least a Bachelor’s Degree.

» Dominant language: English (76 per cent list as primary home language).

» Most common origin of residents: English, Scottish, Irish, Canadian and Chinese.

» Average household income of $81,298, as compared with $92,899 and $96,209 for Vancouver and Metro Vancouver respectively.

» Only 33 per cent of households are homeowners (vs. 49 per cent in Vancouver and 66 per cent in Metro Vancouver).

» Almost 100 per cent of homes are apartments and condos in Downtown Vancouver, compared with 61 per cent in Vancouver and 41 per cent in Metro Vancouver.

» Average price of an apartment/condo is $570,417 (vs. $473,500 in Vancouver and $435,000 in Metro Vancouver).

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WHO LIVES DOWNTOWN?

A total of 100,660 people live in the residential catchment of downtown Vancouver.1 The area’s residential population increased by 27 per cent in the last five years – significantly higher than that of the Vancouver average, and more than double that of the Metro Vancouver average.

New high-rise condominiums are the primary reason for the increase, and new construction including Telus Garden, Trump Tower, and Vancouver House will continue to bring in more residents. By 2018, it is expected that 110,000 people will call downtown Vancouver home.

Downtown Vancouver is a diverse and multicultural community, and the most common origin of its residents are English, Scottish, Irish, Canadian and Chinese.

Compared to the rest of the city and Metro Vancouver, the household size in downtown Vancouver is smaller than average, with fewer families and children per household. Residents are young by regional standards, and almost all live in apartments and condominiums.

Downtown residents are highly educated and have professions in sales and service, business and finance, and management. Fifty-three per cent hold at least a Bachelor’s Degree or equivalent.

THE SPECIFICS

PHYSICAL PROFILE

Downtown Vancouver is located in the heart of the City of Vancouver, with 5.9 million square feet of residential area and 33.7 million square feet of commercial area. It is bordered by

Burrard Inlet to the north, Stanley Park and the West End to the west, Gastown and Yaletown to the east, and False Creek to the south – making downtown Vancouver the most walkable neighbourhood in all of Canada.2

Downtown Vancouver ranks ninth in the world and second in Canada on a list of cities with the largest number of highrises.3 The Shangri-La on Georgia Street is the tallest building at 62 storeys.

Downtown Vancouver is a commercial/retail area comprised of three zoning types: Downtown District (DD), Comprehensive Development District (CD-1) and Central Waterfront District (CWD).

HERITAGE & CULTURE

Downtown Vancouver is a mix of new and old, and has more than 100 structures listed as heritage buildings, including the Marine Building, Vancouver Art Gallery, and the Orpheum Theatre. The area plays hosts to numerous community events throughout the year, drawing locals and tourists to the area. Popular events include the Vancouver International Film Festival, Vancouver Pride Celebration, Roger’s Santa Claus Parade, Vancouver International Jazz Festival, and the BMO Vancouver Marathon.

RECREATION

Downtown Vancouver contains five city parks – Cathedral Square, Emery Barnes Park, and Art Phillips Discovery Park at the Burrard SkyTrain Station, along with Harbour Green and Portal Park, both of which overlook Coal Harbour.

Downtown Vancouver is a walker’s and runner’s paradise, with easy access to the Seawall and Stanley Park, as well as the Coal Harbour and Roundhouse Community Centres.

EDUCATION

The closest elementary schools are Lord Roberts Elementary at 1100 Bidwell Street and Elsie Roy Elementary at 150 Drake Street. The closest public secondary school is King George Secondary at 1755 Barclay Street. Downtown Vancouver is home to satellite campuses of the University of British Columbia (UBC), Simon Fraser University’s (SFU), British Columbia Institute of Technology (BCIT), and over a dozen English language schools.

TRANSPORTATION

Downtown Vancouver is connected to almost every neighbourhood in Vancouver and Metro Vancouver through the Granville, Burrard, and Waterfront SkyTrain stations that access the Expo Line, Millennium Line, and Canada Line. The Canada Line connects downtown to the Vancouver International Airport and Richmond. Bus routes serve the North Shore, Burnaby, Richmond, Surrey and beyond. The SeaBus provides a direct route to North Vancouver across Burrard Inlet.

Seaplane and helicopter terminals located in Coal Harbour are easily accessible and within walking distance of many transit hubs.

There are four bike routes in downtown Vancouver – Burrard/Hornby and Richards/Homer, which provide one-way on-street

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1 For the purpose of this study, the residential catchment area is defined as being the Downtown peninsula to Main Street.2 Lucent Quay web search, December 2015. Source: https://www.walkscore.com/CA-BC/Vancouver/Downtown.3 Lucent Quay web search, December 2015. Source: http://skyscraperpage.com/cities/?cityID=1.

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cycling lanes for north-south bike traffic, and the Melville/Dunsmuir and Pacific routes, which provide east-west cycling lanes. The area is adjacent to the seaside bike route around Stanley Park.

KEY POPULATION INDICATORS

POPULATION

There are 100,660 residents in downtown Vancouver – 54 per cent male and 46 per cent female. Residents are young by regional standards. Almost 50 per cent are between the ages of 25 and 44, with the average age between 25 and 29 (Figure 2). The area has significantly fewer children and seniors than Vancouver and Metro Vancouver overall.

Figure 2: Population by Age

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KEY POPULATION INDICATORSPopulationThere are 100,600 residents in Downtown Vancouver, comprised of 54 per cent males and 46 per cent females. Residents are young by regional standards – almost 50 per cent are between the ages of 25 and 44, with the average ages being 25 to 29.

The area has significantly fewer children and seniors than Vancouver and Metro Vancouver overall.

Downtown Vancouver saw a significant population increase of 27 per cent within the last five years, compared to seven per cent in Vancouver and 12 per cent in Metro Vancouver.

Ethnic OriginThe top five ethnic origins in Downtown Vancouver are English, Irish, Scottish, Canadian and Chinese. While these are also the top five ethnic origins for the City and region overall, a key difference is there is a significantly lower percentage of residents of Chinese origin within Downtown Vancouver than Vancouver and Metro Vancouver.

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Figure 2: Population by Age

Downtown

Vancouver

Metro Vancouver

Downtown Vancouver saw a significant population increase of 27 per cent over the last five years, compared with seven per cent in Vancouver and 12 per cent in Metro Vancouver.

ETHNIC ORIGIN

The top five ethnic origins in downtown Vancouver are English, Irish, Scottish, Canadian and Chinese (Figure 2). While these are also the top five ethnic origins for the city and region overall, a key difference is there is a significantly lower percentage of residents of Chinese origin within downtown Vancouver than Vancouver and Metro Vancouver.

Figure 3: Ethnic Origin

Page 5 of 11

In terms of visible minorities, 25 per cent of residents in Downtown Vancouver identify themselves as Chinese, West Asian, Korean and Japanese. Although Chinese has the highest percentage at 15 percent, it is notably less compared to the rest of Vancouver (30 per cent) and Metro Vancouver (19 per cent).

Home LanguagesEnglish is the dominant home language for Downtown residents (76 per cent), which is higher than the rest of the region (68 per cent). This is followed by Chinese (Mandarin and Cantonese), Farsi and Korean. Chinese is the home language to 3 per cent of Downtown residents, compared to 11 per cent for the City and 7 per cent for the region. There are more Farsi and Korean speaking residents than the average in Vancouver, and a much lower percentage of Punjabi speakers in Downtown than in the rest of the City and region.

Figure 4: Top Home Languages

Downtown Vancouver Metro VancouverDominant

English 76% 65% 68%Non-Official

Cantonese 1% 8% 4%Farsi 3% 1% 1%Korean 2% 1% 2%Mandarin 2% 3% 3% Punjabi - 2% 5%Spanish 1% 1% 1%

Family StructureDowntown Vancouver is home to 64,818 households, compared to 49,549 in 2009. Of thesehouseholds, 40 per cent are families, compared to 60 per cent in Vancouver and 74 per cent in Metro Vancouver. There are proportionately fewer married couples than Vancouver and Metro Vancouver, and correspondingly more common-law couples. Families in Downtown

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Figure 3: Ethnic Origin

Downtown

Vancouver

Metro Vancouver

In terms of visible minorities, 25 per cent of residents in Downtown Vancouver identify themselves as Chinese, West Asian, Korean and Japanese. Although Chinese has the highest percentage at 15 percent, it is notably less compared to the rest of Vancouver (30 per cent) and Metro Vancouver (19 per cent).

HOME LANGUAGES

English is the dominant home language for downtown residents (76 per cent), which is higher than the rest of the region (68 per cent) (Table 1). This is followed by Chinese (Mandarin and Cantonese), Farsi and Korean. Chinese is the home language to three per cent of downtown residents, compared to 11 per cent for the city and seven per cent for the region. There are more Farsi and Korean speaking residents than the average in Vancouver, and a much lower percentage of Punjabi speakers downtown than in the rest of the city and region.

Table 1: Top Home Languages

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In terms of visible minorities, 25 per cent of residents in Downtown Vancouver identify themselves as Chinese, West Asian, Korean and Japanese. Although Chinese has the highest percentage at 15 percent, it is notably less compared to the rest of Vancouver (30 per cent) and Metro Vancouver (19 per cent).

Home LanguagesEnglish is the dominant home language for Downtown residents (76 per cent), which is higher than the rest of the region (68 per cent). This is followed by Chinese (Mandarin and Cantonese), Farsi and Korean. Chinese is the home language to 3 per cent of Downtown residents, compared to 11 per cent for the City and 7 per cent for the region. There are more Farsi and Korean speaking residents than the average in Vancouver, and a much lower percentage of Punjabi speakers in Downtown than in the rest of the City and region.

Figure 4: Top Home Languages

Downtown Vancouver Metro VancouverDominant

English 76% 65% 68%Non-Official

Cantonese 1% 8% 4%Farsi 3% 1% 1%Korean 2% 1% 2%Mandarin 2% 3% 3% Punjabi - 2% 5%Spanish 1% 1% 1%

Family StructureDowntown Vancouver is home to 64,818 households, compared to 49,549 in 2009. Of thesehouseholds, 40 per cent are families, compared to 60 per cent in Vancouver and 74 per cent in Metro Vancouver. There are proportionately fewer married couples than Vancouver and Metro Vancouver, and correspondingly more common-law couples. Families in Downtown

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Figure 3: Ethnic Origin

Downtown

Vancouver

Metro Vancouver

FAMILY STRUCTURE

Downtown Vancouver is home to 64,818 households, compared with 49,549 in 2009 (Table 2, page 4). Of these households, 40 per cent are families, compared with 60 per cent in Vancouver and 74 per cent in Metro Vancouver. There are proportionally fewer married couples in downtown Vancouver than Vancouver

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and Metro Vancouver, and correspondingly more common-law couples. Families in downtown Vancouver on average have fewer children or no children compared to the average for families in the rest of the city and region.

Table 2: Family Structure

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Vancouver on average have fewer children or no children compared to the average for families for the rest of the City and region.

Figure 5: Family Structure

Downtown Vancouver Metro VancouverNumber of Households 64,818 281,907 980,076

Average Number of Persons per Household

1.5 2.0 2.3

% of Households with Families* 40% 60% 74%

Number of Families 24,583 170,159 726,560Average Number of Persons per Family 2.3 2.7 2.8

Average Number of Children per Family 0.4 0.9 1

*Family is defined as a census family

Level of EducationDowntown Vancouver residents have higher levels of education than the average for the City and region, with 53 per cent holding a Bachelor’s Degree or equivalent, or higher, compared to 46 per cent in Vancouver and 36 per cent in Metro Vancouver.

Figure 7: Education Levels

Downtown Vancouver Metro VancouverPopulation 25Years or OlderNo Certificate, Diploma or Degree 3% 7% 8%

High School Diploma or Equivalent 16% 19% 23%

Trades Certificateor Diploma 5% 5% 8%

College or other non-University 17% 17% 19%

University Diploma below Bachelor 6% 6% 7%

Bachelor’s Degree 35% 29% 23%University Diploma above Bachelor 18% 17% 13%

Labour Force Majority of the working age population of 15 years and over in Downtown Vancouver is in the labour force (72 per cent), which is reflective of its residents who have higher education levels and are primarily of working age. This is slightly higher than the City (66 per cent) and the region (65 per cent).

LEVEL OF EDUCATION

Downtown Vancouver residents have higher levels of education than the average for the city and region, with 53 per cent holding a Bachelor’s Degree or equivalent, or higher, compared to 46 per cent in Vancouver and 36 per cent in Metro Vancouver (Table 3).

Table 3: Education Levels

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Vancouver on average have fewer children or no children compared to the average for families for the rest of the City and region.

Figure 5: Family Structure

Downtown Vancouver Metro VancouverNumber of Households 64,818 281,907 980,076

Average Number of Persons per Household

1.5 2.0 2.3

% of Households with Families* 40% 60% 74%

Number of Families 24,583 170,159 726,560Average Number of Persons per Family 2.3 2.7 2.8

Average Number of Children per Family 0.4 0.9 1

*Family is defined as a census family

Level of EducationDowntown Vancouver residents have higher levels of education than the average for the City and region, with 53 per cent holding a Bachelor’s Degree or equivalent, or higher, compared to 46 per cent in Vancouver and 36 per cent in Metro Vancouver.

Figure 7: Education Levels

Downtown Vancouver Metro VancouverPopulation 25Years or OlderNo Certificate, Diploma or Degree 3% 7% 8%

High School Diploma or Equivalent 16% 19% 23%

Trades Certificateor Diploma 5% 5% 8%

College or other non-University 17% 17% 19%

University Diploma below Bachelor 6% 6% 7%

Bachelor’s Degree 35% 29% 23%University Diploma above Bachelor 18% 17% 13%

Labour Force Majority of the working age population of 15 years and over in Downtown Vancouver is in the labour force (72 per cent), which is reflective of its residents who have higher education levels and are primarily of working age. This is slightly higher than the City (66 per cent) and the region (65 per cent).

LABOUR FORCE

The majority of the working age population of 15 years and over in downtown Vancouver is in the labour force (72 per cent), which is reflective of its residents who have higher education levels and are primarily of working age. This is slightly higher than the City of Vancouver as a whole (66 per cent) and the region (65 per cent).

HOUSEHOLD INCOME

Although residents in downtown Vancouver are better educated, they have lower average annual household income levels than that of Vancouver or Metro Vancouver. The average household income is $81,298, compared to $92,899 for Vancouver and $96,209 for Metro Vancouver. The difference is largely reflective of the higher number of younger, single-person households in the downtown area.

Figure 4 illustrates the income profile for downtown residents as compared with the city and region, which shows that downtown has more households with an average annual income of less than $60,000 than Vancouver and the region.

Figure 4: Average Household Income

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Household IncomeAlthough residents in Downtown Vancouver are better educated, they have lower average annual household income levels than that of Vancouver or Metro Vancouver. The average household income is $81,298, compared to $92,899 for Vancouver and $96,209 for MetroVancouver. The difference is largely reflective of the higher number of younger, single person households in the Downtown area.

Figure 8 illustrates the income profile for Downtown residents as compared with the City and region, which shows that Downtown has more households with an average annual income of less than $60,000 than Vancouver and the region.

OccupationThe top five occupational groups for Downtown residents are:

• Sales and service occupations (25 per cent)• Business, finance and administrative occupations (22 per cent)• Management occupations (17 per cent)• Social science, education, government and religion occupations (11 per cent)• Natural and applied science occupations (10 per cent)

A higher number of Downtown residents are employed in management positions, as well as in business, finance and administrative, and art, culture, recreation and sport positions than the average for the City and region. Proportionately, fewer residents are employed in trades, transport and equipment operator, and processing, manufacturing and utilities occupations.

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Figure 8: Average Household Income

Downtown

Vancouver

Metro Vancouver

OCCUPATION

The top five occupational groups for downtown residents are:

» Sales and service (25 per cent) » Business, finance and administrative (22 per cent) » Management (17 per cent) » Social science, education, government and religion

(11 per cent) » Natural and applied science (ten per cent)

A higher number of downtown residents are employed in management positions, as well as in business, finance and administrative, and art, culture, recreation and sport positions than the average for the city and region. Proportionately, fewer downtown residents are employed in trades, transport and equipment operator, and processing, manufacturing and utilities occupations (Table 4).

Table 4: Labour Force by Occupation

Page 8 of 11

Figure 10: Labour Force by Occupation

Downtown Vancouver Metro Vancouver

Sales & Service 25% 31% 29%

Business, Finance & Administration 22% 19% 12%

Management 17% 11% 12%

Social Science, Education, Government & Religion 11% 13% 11%

Natural & Applied Science 10% 8% 7%

Art, Culture, Recreation & Sport 7% 4% 2%

Health 4% 5% 4%

Trades, Transport & Equipment Operators & Related 3% 8% 14%

Processing, Manufacturing & Utilities - 1% 17%

HOUSING PROFILEStructural MixVancouver has proportionately more apartments and condos than almost all other cities in Canada, only second to Montreal. While there are no single-detached homes in Downtown Vancouver, apartments represent 99 per cent of the housing stock, compared to 61 per cent in Vancouver and 41 per cent in the region. A majority of those apartments (86 per cent) are in buildings with five or more storeys.

With new high-rises currently in construction, including the Trump Tower, Telus Garden andVancouver House, apartments will continue to provide a strong residential base in the area.

*Family is defined as a census family

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HOUSING PROFILE

STRUCTURAL MIX

Vancouver has proportionately more apartments and condos than almost all other cities in Canada, second only to Montreal. There are no detached homes in downtown Vancouver, with apartments representing 99 per cent of the housing stock. This compares with 61 per cent single-detached homes in Vancouver and 41 per cent in the region. The majority of those apartments (86 per cent) are in buildings with five or more storeys (Figure 5).

With new high-rises currently in construction, including the Trump Tower, Telus Garden and Vancouver House, apartments will continue to provide a strong residential base in the area.

Figure 5: Dwellings by Major Structural Type

Page 9 of 11

TenureThe majority of Downtown residents (67 per cent) rent their home – primarily due to the area’s housing stock of apartments, the relatively youthful demographic and the higher proportion of single-person households. This average is higher than the proportion of renters in Vancouver (51 per cent) and Metro Vancouver (34 per cent).

Housing Prices4

Housing in Downtown Vancouver is made up of 99 per cent apartments, and one per cent row houses. The cost of housing has increased over 30 per cent in the past five years, with an average housing price of $570,4175. This is 20 to 30 per cent higher compared to the average price of apartments in Vancouver at $473,500 and Metro Vancouver at $435,000.

The Vancouver housing market remains strong with home sales forecasted to reach record levels. The one-year average increase remains at a steady 10 per cent, which is lower than the rest of the City and region with an average increase of 16 per cent and 14 per cent, respectively.

The average rental price in Downtown Vancouver is $1,800 per month for a two-bedroom apartment6.

4 Housing price information courtesy of the Real Estate Board of Greater Vancouver. 5 Housing price information courtesy of the Real Estate Board of Greater Vancouver. 6 Canadian Mortgage and Housing Corporation (CMHC) Rental Market Survey Results, October 2014. Source: https://www03.cmhc-schl.gc.ca/hmiportal/en/#Profile/241003/5/Downtown

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Figure 11: Dwellings by Major Structural Type

Downtown

Vancouver

Metro Vancouver

TENURE

The majority of downtown residents (67 per cent) rent their home – primarily due to the area’s housing stock of apartments, the youthful demographic and the higher percentage of single-person households. This average is higher than the percentage of renters in Vancouver (51 per cent) and Metro Vancouver (34 per cent).

HOUSING PRICES

The cost of housing has increased over 30 per cent in the past five years, with an average housing price of $570,417.4 This is 20 to 30 per cent higher compared to the average price of apartments in Vancouver at $473,500 and Metro Vancouver at $435,000.

The Vancouver housing market remains strong with home sales forecasted to reach record levels. The one-year average increase remains at a steady ten per cent, which is lower than the rest of the city and region with an average increase of 16 per cent and 14 per cent, respectively.

The average rental price in downtown Vancouver is $1,800 per month for a two-bedroom apartment.5

SPENDING PATTERNS

Reflecting their income levels and smaller household size, on average, households in downtown Vancouver spend less per year than the average Vancouver and Metro Vancouver household. In 2015, downtown area households spent an average of $75,661, compared to $83,902 in Vancouver households and $86,297 in Metro Vancouver households.

On a percentage basis, downtown residents have similar spending patterns as residents of the city and region, with the exception of housing, on which they spend slightly more. This is likely due to the higher property values and rent prices. Downtown residents spend slightly less on transportation as a result of fewer residents owning vehicles and using alternative modes of transportation such as walking, public transit or cycling.

When it comes to personal spending, households in downtown spend ten per cent of their expenses on clothing, tobacco products and alcoholic beverages, compared to the average of seven per cent in Vancouver and six per cent in Metro Vancouver.

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4 Housing price information courtesy of the Real Estate Board of Greater Vancouver.5 Canadian Mortgage and Housing Corporation (CMHC) Rental Market Survey Results, October 2014. Source: https://www03.cmhc-schl.gc.ca/hmiportal/en/#Profile/241003/5/Downtown

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Table 5 provides a comparison of annual household spending in downtown Vancouver, Vancouver and Metro Vancouver.

Table 5: 2015 Household Spending Patterns

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SPENDING PATTERNSReflecting their income levels and smaller household size, on average, households in Downtown Vancouver spend less per year than the average Vancouver and Metro Vancouver household. In 2015, Downtown area households spent an average of $75,661, compared to$83,902 in Vancouver households and $86,297 in Metro Vancouver households.

On a percentage basis, Downtown residents have similar spending patterns as residents of the City and region, with the exception of housing, on which they spend slightly more. This is likely due to the higher property values and rent prices. Downtown residents spend slightly less on transportation as a result of fewer residents owning vehicles and using alternative modes of transportation such as walking, public transit or cycling.

When it comes to personal spending, households in Downtown spend 10 per cent of their expenses on clothing, tobacco products and alcoholic beverages, compared to the average of seven per cent in Vancouver and six per cent in Metro Vancouver.

Figure 13 provides a comparison of annual household spending in Downtown Vancouver,Vancouver and Metro Vancouver.

Figure 13: 2015 Household Spending Patterns

Downtown Vancouver Metro VancouverFood 10% 11% 10%Shelter 23% 21% 21%Transportation 10% 11% 12%Health & Personal Care 5% 5% 5%

Household Operation 4% 4% 4%Recreation 5% 5% 5%Taxes 22% 22% 21%Insurance, Pension Contributions 5% 5% 5%

Other 16% 16% 17%

Table 6 provides a breakdown of average 2015 spending per downtown household.

Table 6: Downtown Vancouver BIA Spending Patterns(Average Household 2015)

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Figure 14 provides a breakdown of an average 2015 spending per Downtown household.

Figure 14: Downtown Vancouver Spending PatternsAverage Household (2015)

Expenditure Area AmountTotal Expenditure per Household $75,661

Personal Taxes $16,271Shelter $17,344Food $7,776Transportation $7,344Recreation $3,794Insurance & Pension Contributions $3,948Health & Personal Care $3,108

OtherClothing $3,764Household Operation $2,738Gifts of Money & Contributions $2,371Household Furnishings & Equipment $2,199Tobacco Products & Alcoholic Beverages $2,053Education $1,304Miscellaneous Expenditures $1,050Reading Materials & Other Printed Matter $342Games of Chance $183

The Downtown Vancouver core, Canada’s most walkable neighbourhood, is a popular place to live and to visit. Its density is both liveable and sustainable. The recent development of major new high-rise apartments, access to thousands of services, restaurants and shops, and a growing number of grocery stores, will continue to provide Downtown Vancouver with a strong residential base to sustain businesses that supply personal services and consumer staples.

SUMMARY

Downtown Vancouver, Canada’s most walkable neighbourhood, is a popular place to live and to visit. Its density is both liveable and sustainable. The recent development of major new high-rise apartments, access to thousands of services, restaurants and shops, and a growing number of grocery stores, will continue to provide downtown Vancouver with a strong residential base to sustain businesses that supply personal services and consumer staples.

CONTACT

Downtown Vancouver Business Improvement AssociationSuite 325 – 1130 West Pender StreetVancouver, BC V6E 4A4

Tel: (604) 685-7811Fax: (604) 685-7812

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