Prices in Metro Vancouver’s housing market are so expensive that people would rather commute for hours everyday than buy in the city.
Patty Mack, a realtor from Victoria says Vancouver Island is having to accommodate those who can’t afford to buy a home in Vancouver.
She says many are willing to make the commute to work, and says it doesn’t seem like this trend will end anytime soon.
“We are going to continuously see that, especially here on the Island with people that are going to be coming from back East and moving here.”
“I’ve had a lot of calls from people wanting rentals here to maybe move in to eventually, but to have them near Uvic to own. And also Nanaimo, lot of people moving there because they can take the helijet, the ferry, and float planes to Vancouver and yet get a home you know in the $300,000 to $400,000 range.”
Mack says even foreign investors are now buying properties in Victoria.
She says the hot housing market in Vancouver is making people think a long ferry ride every morning is worth it.
With files from CKNW’s Shane Woodford