It is one of the biggest issues facing Vancouver and now it’s cost the city its lofty rating when it comes to being one of the most livable cities in the world.
The Economic Intelligence Unit (EIU) has released its liveability index and the city has slipped from fifth to eighth and the agency blames Vancouver’s “significant shortfall in housing availability.”
For similar reasons, Toronto, which also has an unaffordable housing market, has slipped out of the top 10 to 12.
Calgary is the highest-ranking Canadian city, sitting at fifth in the world’s most liveable cities.
Vancouver’s overall rate was 96.6 out of a possible 100 when overall stability, healthcare, culture and environment, education and infrastructure is considered.
This comes as a poll released earlier this month showed one in three people were “seriously” considering leaving B.C. because of the cost-of-living crisis.
The data, from Angus Reid, showed roughly 36 per cent of people it spoke to were thinking about leaving. More than 1,200 were randomly surveyed by the research firm for a week in May.
“Housing affordability challenges are nothing new to many British Columbians. Vancouver, Burnaby, Victoria, and Kelowna all rank among the 12 most expensive cities to rent in across the country, while purchase prices follow a similar trend. Home prices have been rising precipitously since the turn of the century,” explained Angus Reid.
It suggested those in the Fraser Valley were most likely consider leaving, adding, 42 per cent of residents in that region were looking to leave.
Damascus remains the world’s least liveable city.
Top 10 most livable cities in the world (Source: EIU)
- Vienna, Austria
- Copenhagen, Denmark
- Zurich, Switzerland
- Melbourne, Australia
- Calgary, Canada
- Geneva, Switzerland
- Sydney, Australia
- Vancouver, Canada
- Osaka, Japan
- Auckland, New Zealand
North America is also considered the second-best region in the world, behind Western Europe, and again, housing is a key factor.
“North America scores an average of 90.5 for its 25 cities, but infrastructure scores have fallen since last year in Canada, owing to an ongoing housing crisis,” says the EIU’s report.
The continent did rate well in the education category.
“Western Europe remains the best-performing region for liveability, coming top in four categories, while second-placed North America is best for education.”