This analysis looks at the all the sales to occur within three west side neighborhoods in the City of Vancouver over a 6 month period and the ownership and mortgage patterns within these titles.

1. Andy Yan
November 2015
Ownership Patterns of Single Family Home
Sales on Selected West Side Neighborhoods
in the City of Vancouver
A Case Study

2. CONTEXT

3. Source: Vancouver Economic Commission,
2011

4. Canadians Abroad
Source: Asia Pacific Foundation of Canada, 2011

5. 0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
20%
-
100,000
200,000
300,000
400,000
500,000
600,000
700,000 1951
1953
1955
1957
1959
1961
1963
1965
1967
1969
1971
1973
1975
1977
1979
1981
1983
1985
1987
1989
1991
1993
1995
1997
1999
2001
2003
2005
2007
2009
2011
2013
Population
Average 5-Year Residential Mortgage Rate
2 per. Mov. Avg. (Population)
Instruments of Mass Construction
Population Growth in the City of Vancouver and Average 5-Year Residential Mortgage
Rate, 1951 to 2013
Source: Bank of Canada and Statistics Canada

6. $64,352
$62,202
$60,091
$54,391 $53,905
$52,229
$50,456
$48,142 $47,276
$41,981
$-
$10,000
$20,000
$30,000
$40,000
$50,000
$60,000
$70,000
Toronto Ottawa Calgary Waterloo Hamilton Quebec Edmonton Winnipeg Montreal Vancouver
2011 Median Total Incomes for 25-55 year olds with Bachelor degrees
for Canada’s 10 Largest Metropolitan Areas
Data Source: Statistics Canada, 2011 National Household Survey,
Catalogue Number: 99-014-X2011040

7. Average and Median Household Incomes in the City of Vancouver
All incomes have been inflation indexed to the 2006 Census
Data Source: 1981, 1986,1991, 2001, and 2006 Canadian Censuses
1981 1986 1991 1996 2001 2006
Average Household
Income
$60,229 $54,792 $61,497 $58,589 $64,750 $68,271
Median Household Income $47,919 $41,710 $46,408 $43,307 $46,985 $47,299
$-
$10,000
$20,000
$30,000
$40,000
$50,000
$60,000
$70,000
$80,000
HouseholdIncome

8. Ottawa
Washington, DC
CalgaryAnchorage
TorontoVancouver
Halifax HonoluluSan FranciscoBoston
Regina Edmonton
Seattle
San Diego Los AngelesDetroit
Denver
New YorkPortland Las Vegas
New Orleans
$-
$10,000
$20,000
$30,000
$40,000
$50,000
$60,000
$70,000
$80,000
$90,000
$- $100,000 $200,000 $300,000 $400,000 $500,000 $600,000 $700,000
Median Household
Income
(in 2011 CDN $)
Median Value of Dwellings (in 2011 CDN $)
Median Household Incomes and Median Housing Values in Selected
Canadian and US Metropolitan Areas, 1990
Data Source: Statistics Canada, 1991 Census
and US Census, 1990 Census

9. Washington, DC
Calgary
Edmonton
Ottawa
San FranciscoAnchorage Regina Toronto
Boston Honolulu
Seattle VancouverHalifax New York, NY
Denver San Diego
Los Angeles
Las Vegas Portland
Detroit
New Orleans
$-
$10,000
$20,000
$30,000
$40,000
$50,000
$60,000
$70,000
$80,000
$90,000
$- $100,000 $200,000 $300,000 $400,000 $500,000 $600,000 $700,000
Median Household
Incomes
(in 2011 CDN $)
Median Value of Dwellings (in 2011 CDN $)
Median Household Incomes and Median Housing Values in Selected
Canadian and US Metropolitan Areas, 2011
Data Source: Statistics Canada, 2011 NHS
and US Census, 2011 American Community Survey (5 yr)

10. THE CASE STUDY

11. Study Population Characteristics and Methodology
• 172 Westside Single Family Homes Sale Transactions as listed by the
Multiple Listing Service in the West Point Grey, Dunbar, and University
Endowment Land neighborhoods (West of Alma Street)
• All detached home sales from August 2014 to February 2015 (Six months)
• Total Study Dwelling Value: $525 million
• Average Study Sale Price: $3.05 million (Canadian)
> Average 2015 City of Vancouver Single Family Home Total Assessment Value:
$1.5 m
• Median Study Sale Price: $2.64 million
> Median 2015 City of Vancouver Single Family Home Total Assessment Value:
$1.1 m
Data Source: BC Land Titles

12. 44
73
23
16 16
0
10
20
30
40
50
60
70
$1.25m to $2m $2m to $3m $3m to $4m $4m to $5m Over $5 m
Distribution of Property Prices of Study Population by Price Category
Data Source: BC Land Titles

13. Study Population Sale Prices and Locations by
City of Vancouver Local Planning Area
Source: BC Land Titles, City of Vancouver,
and Statistics Canada
Legend
Sale Price
$1.25 m - $2 m
$2 m - $3 m
$3 m- $4 m
$4 m - $5 m
$5 m - $9.1 m
Non Single Family Residents /
Data Unavailable

14. Study Population in Context – 2015 Assessment Values
Source: BC Assessment, City of Vancouver,
and Statistics Canada
Legend
2015 BC Assessment Values
$1 m - $2 m
$2 m - $3 m
$3 m - $4 m
$4 m - $5 m
$5 m - $50 m
Non Single Family Residents /
Data Unavailable

15. 2014/2015 BC Assessment Values Change for All Properties in Study
Neighborhoods
11%
13%
7%
12%
Dunbar-Southlands West Point Grey University
Endowment Lands
City of Vancouver
Average Percentage Change of Total Assessment
Values (Land + Building) in Study Neighborhoods,
2014-2015
$218,385
$349,260
$399,182
$160,000
Dunbar-Southlands West Point Grey University
Endowment Lands
City of Vancouver
Average Value Change of Total Assessment Values
(Land + Building) in Study Neighbourhoods, 2014-
2015
Source: BC Assessment

16. Mortgages on Title
• 32 properties (18%) held no
mortgage
• 140 properties (82%) held a
mortgage
Data Source: BC Land Titles
Mortgage, 82%
No Mortgage,
18%
34
61
19 13 13
10
12
4
3 3
0
10
20
30
40
50
60
70
80
$1.25m to $2m $2m to $3m $3m to $4m $4m to $5m Over $5 m
Distribution of Property Prices of Study Population by
Price Category and Mortgage Presence
Mortgage No Mortgage

17. Holders of Mortgages
• 140 properties (82% of total
study) held a mortgage
> 69 percent of mortgages were
held by either CIBC, HSBC, or
Bank of Montreal
Data Source: BC Land Titles
CIBC
28%
HSBC
25%
Bank of Montreal
16%
Bank of Nova Scotia
8%
Royal Bank of
Canada
8%
Vancity
5%
Toronto Dominion
4%
Other
6%

18. Buyer’s Type of Ownership
• 109 properties were listed as have a
single name on title
• 53 properties listed two names
• 2 properties listed three owners
• 8 listed as Corporations
Single Owner
63%
Two Owners
31%
Three Owners
1%
Corporations
5%
Data Source: BC Land Titles

19. Self Declared Buyer’s Occupations of All Registered Owners on Title
• 221 Individual Buyers on Title
for 172 Properties with 8
Corporate Owners
Data Source: BC Land Titles
Homemaker/Housewife
25%
Businessperson
21%
Manager
5%
Student
4%
Self Employed
4%
Retired
3%
Other
38%
Top 10 Occupations of
All Buyers
Number
Homemaker/Housewife 52
Businessperson 43
Manager 10
Self Employed 8
Student 8
Retired 7
Accountant 5
Realtor 5
Physician 4
Other 79
Total 221

20. “Other” Occupations of All Registered Owners
Research Assistant (2), Undeclared (2), Unemployed (2), Sales Manager (2), Lawyer (2), Chief
Executive Officer (2), Construction Worker (2), Dentist (2), Engineer (2), Mortgage Specialist (2),
Sales Representative (2), Scientist (2), Builder (2), Property Manager (2), Doctor (2), Undeclared
(2), Professional Investor (1), Director Of Communications (1), Currency Exchanger (1),
Bookkeeper (1), Director Of Human Resources (1), Bookkeeper/Fitness Instructor (1), Purchasing
Manager (1), English Instructor (1), Director (1), Facilities And IT Manager (1), TV Editor (1),
Family Physician (1), Pharmacist (1), Finance Manager (1), Commercial Realtor (1), General
Manager (1), Hair Stylist (1), Deputy Minister (1), Admin (1), Site Superintendent (1), Surgeon (1),
University Professor (1), Information Technology Engineer (1), Optometrist (1), Chartered
Accountant (1), CNC Operator (1), Account Manager (1), Project Manager (1), IT Manager (1),
Psychologist (1), Computer Programmer (1), Logistics (1), Consultant (1), Management
Consultant (1), Cinematographer (1), Manufacture Manager (1), Senior Account Manager (1),
Marketing Manager (1), Software Engineer (1), Marketing Specialist (1), Merchandizer (1),
Teacher (1), Civil Engineer (1), Director Of Corporate Relations (1), Notary Public (1), Office
Manager (1), Office Worker (1), Interior Designer (1), IT Management Consultant (1)
Data Source: BC Land Titles

21. Declared Buyer’s Occupations of Single Owner on Title
• 109 properties with Single
Names on Title
Housewife/Homemaker
32%
Businessperson
18%
Manager
6%
Student
6%
Self-Employed
4%
Other
34%
Data Source: BC Land Titles
*Other: Accountant (3), Property Manager (2),
Lawyer (2), Notary Public (1), Facilities and IT
Manager (1), Purchasing Manager (1), Family
Physician (1), Marketing Manager (1), Finance
Manager (1), Engineer (1), Hair Stylist (1), Chief
Executive Officer (1), Manufacture Manager (1),
Builder (1), Merchandizer (1), University Professor
(1), Pharmacist (1), Doctor (1), Psychologist (1),
Research Assistant (1), Consultant ( 1), Scientist
(1), Site Superintendent (1), Chartered Accountant
(1), Director (1), Logistics (1), IT Management
Consultant (1) and Interior Designer (1)
Top 5 Occupations of All
Properties with a Single
Name on Title #
Housewife/Homemaker 35
Businessperson 19
Manager 7
Student 7
Self Employed 4
Other 37
Total 109

22. “Housewife/Homemaker” Occupation Property Characteristics
Data Source: BC Land Titles
• 52 Properties / 30% of Study Population
• 36 Dwellings with a Single Name on Title / 16
Dwellings with Multiple (2+) Names on Title
• 3 properties did not have a mortgage
• Dwellings were worth $1.6 m to $9 m
> $1.3 m Average Value / $2.8 m Median Value
Mortgage
94%
No Mortgage
6%
8
21
9
5 6
1
1
1
0
5
10
15
20
25
$1.25m to $2m $2m to $3m $3m to $4m $4m to $5m Over $5 m
Distribution of Property Prices of Study Properties by Price
Category for "Homemaker/Housewife" Owners and Mortgage
Presence
No Mortgage
Mortgage

23. Data Source: BC Land Titles
“Student” Occupation Property Characteristics
• 8 Properties / 5% of Entire Study Population
• 7 Properties with a Single Name on Title / 1
Property with 2 Names on Title
• 5 out of 8 (71%) did not have a mortgage
• Dwellings were worth between $1.9 m to
$7.2 m
> $3.2 m Average Value / $2.6 m Median
Value
Mortgage
37%
No
Mortgage
63%
1 1 1
1
3
1
0
1
2
3
4
$1.25m to $2m $2m to $3m $3m to $4m $4m to $5m Over $5 m
Distribution of Property Prices of Study Population by Price
Category for Student Owners and Mortgage Status
Mortgage No Mortgage

24. • Follows the Name Analysis methodology commonly used in Public Health, Political
Science and Asian American Studies from the United States
• Based on the insights from three papers:
> Choi, B. C., Hanley, A. J., Holowaty, E. J., & Dale, D. (1993). Use of Surnames to Identify Individual of
Chinese Ancestry. American Journal of Epidemiology, 723-734.
> Lauderdale, D. S., & Kestenbaum, B. (2000). Asian American Ethnic Identification by Surname. Population
Research and Policy Review, 283-300.
> Mateos, P. (2007). A Review of Name-based Ethnicity Classification Methods and their Potential in
Population Studies. Population, Space, and Place, 243-263.
• Identifies “Non-Anglicized Chinese” names: Wong San Fung or Li Xian (example
names) but excludes ethnic Chinese names like Andrew Shui-Him Yan unless
otherwise stated.
• With an assumption that a non-Anglicized suggest a newer immigrant whereas an
Anglicized Chinese name is someone who has spent a much longer amount of time
in Canada or multi-generational Canadian of Chinese single origin or mixed decent.
• There may be some mis-categorization as an Anglicized Chinese name could be
someone who is a new immigrant and a non-Anglizied Chinese name could be a
locally born citizen, but after an external review, we feel this is minimal
Name Analysis Methodology

25. Non-Anglicized Chinese Name Analysis by Property Value
88%
94%
78%
56%
57%
66%
13%
6%
22%
38%
34%
30%
5%
9%
5%
Over $5 m
$4m to $5m
$3m to $4m
$2m to $3m
$1.25m to $2m
Total Sample
Non-Anglicized Chinese Name Other Names Corporation
Data Source: BC Land Titles
Number of
Units
172
44
73
23
16
16

26. Surname Analysis by Lenders
With More than 5 units + Excluding Corporations
Data Source: BC Land Titles
33 Units
38 Units
11 Units
21 Units
6 Units
11 Units
7 Units
28 Units
Total Number
of Properties
50%
14%
18%
50%
81%
82%
84%
94%
50%
86%
82%
50%
19%
18%
16%
6%
No Mortgage Present
Vancity
Bank of Nova Scotia
Toronto Dominion
Bank of Montreal
Royal Bank of Canada
CIBC
HSBC
Non-Anglicized Chinese Name Other Names

27. A Region from All Over
Residents Not Born within the Residing Province or State
Source: Statistics Canada, 2011 NHS;
US Census, 2011 American Community Survey
58% 57%
55%
44%
40%
55%
57%
51% 51%
46%
Greater
Vancouver
Toronto Calgary Ottawa Montréal Seattle Portland San
Francisco
Los Angeles New York

28. Further Readings
1. Badarinza, C., & Ramadorai, T. (2015, April 24). Home Away From Home? Foreign Demand and London House Prices.
Retrieved 23 2015, August, from http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2353124
2. Cityspaces Consulting. (2009). Vancouver Condominium Rental Study. Retrieved August 18, 2014, from
http://vancouver.ca/docs/policy/housing-role-rented-condo-stock.pdf.
3. Ley, D. (2011). Millionaire Migrants Trans-Pacific Life Lines. London: Wiley-Blackwell.
4. Ley, D., & Titchener, J. (2001). Immigration, Globalisation, and House Prices in Canada's Gateway Cities. Housing Studies ,
199-223.
5. Li, W. & Dymski, G. “Financial Globalization and Cross-Border Co-Movements of Money and Population: Foreign Bank
Offices in Los Angeles.” Environment & Planning A 36(2): 213-240
6. Li, W., Lo, L., & Oberle, A. (2014). The embeddedness of bank branch networks in immigrant gateways. The Canadian
Geographer, 48-62.
7. Li, W., Oberle, A., & Dymski, G. (2007, April). Metropolis British Columbia: Centre of Excellence for Research on Immigration
and Diversity. Retrieved from Global Banking and Finance Services to Immigrants in Canada and the United States:
http://mbc.metropolis.net/assets/uploads/files/wp/2007/WP07-06.pdf
8. Mitchell, K. (2004). Crossing the Neoliberal Line: Pacific Rim Migration and the Metropolis. Philadelphia : Temple University.
9. Moos, M., & Skaburskis, A. (2010). The Globalization of Urban Housing Markets: Immigration and Changing Housing
Demand in Vancouver. Urban Geography , 724-749.
10. Surowiecki, J. (2014, May 26). Real Estate Goes Global. New Yorker .
11. Walks, A., & Clifford, B. (2015). The political economy of mortgage securitization and the neoliberalization of housing policy
in Canada. Environment and Planning A , 1-19.
12. Yan, A. (2013, March 21). Foreign Investment in Vancouver's Real Estate Market. Retrieved August 2015, 23, from
BTAworks Foreign Investment in Vancouver Real Estate Slide Presentation at SFU Woodwards:
http://www.slideshare.net/ayan_bta/btaworks-foreign-investment-in-vancouver-real-estate
13. Yan, A. (2009). Ownership, Occupancy, and Rentals: An Indicative Sample Study of Condominiums in Downtown
Vancouver. Vancouver: BTAworks.
14. Yu, H. (2009). Global migrants and the New Pacific Canada. International Journal , 1011-1026.

29. Special Thanks
• David Eby, Member of the Legislative Assembly of British Columbia for
Vancouver-Point Grey acquiring and providing the raw data for this study
• The external reviewers for their commentary and critique on the methods,
presentation, and findings of this study

30. Percentage of Properties with a Mortgage
88%
85%
68%
50%
81%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Non-Anglozied Chinese Names Anglozied Chinese Names Other Name Types Corporation Total