The results of my project have depicted that my theory and belief that Housing Prices or Values were indeed evidently associated to Crime within the according Neighbourhoods, while Rental Prices of Dwelling Units through illustration proved to be correlated to Transit Availability and Proximity within the different areas around the city. Going back to Andrew Yan’s portrayal of the difference in home prices and values between the Vancouver west side and the Vancouver east side, it is evident in my maps that there is indeed a significant and visible divide between the Vancouver West Side and the Vancouver East Side (Yan, 2016). The majority of the West Side appears to be more expensive and less affordable, and in comparison, the majority of the East Side seems to be more affordable as it is less expensive to buy or rent homes. In regard to my project’s objective, I have strongly examined and proven that my findings convey that Crime can be considered a factor and an impact to the Prices and Values of Homes in Vancouver Real Estate. Moreover, my work also conveys that Transit is indeed correlated to the Rental Prices of Home Dwellings in the city.

 

CRIME versus HOUSING PRICES in Vancouver 2016: How Housing Prices in Vancouver Real Estate are Impacted by Crime.

• As seen above, my analysis identifies and proves that crime has impacted housing prices in Vancouver around the various neighborhoods. The neighbourhoods that have a majority of darker shaded DA’s have significantly smaller proportional symbols of crime in contrast to the neighbourhoods that have lighter shades of magenta. The DA’s composed of lighter shades have significantly larger symbols, which conveys that these less expensive areas have more Crime throughout the year. In 2016, it was proven that there has been more Crime in the neighbourhoods that are less expensive in regard to Housing Prices and Real Estate Values (Stats Canada, 2016). In simple terms, the lower the crime in the area, the higher the value of real estate; and vise versa, the higher the crime within the neighbourhood, the lower the value of houses. In other words, it is obvious that Crime is associated to the prices of homes, as the more the crime, the more affordable the area, while the lesser the amount crime results into more expensive areas. This signifies that Crime has an impact on Housing prices in the city, and is proven to be a factor in Real Estate Value depending upon the neighbourhood (McKay, 2013). Also, with regard to Yan’s $2-million dollar line, it is seen that the more affordable and less expensive neighbourhoods and their corresponding DA’s are again divided to the East Side of Vancouver in comparison to the ones in the West Side (Yan, 2016). Along with this, it is visibly demonstrated that the majority of the East Side of the city has more crime than the West Side, while it is also conveyed that the East Side is more affordable than the more expensive West Side. As a result, all these facts and statistics portrayed through my project’s data and visuals disclose that Crime indeed does have an impact on Housing Prices and Real Estate Value in Vancouver.

 

 

TRANSIT versus RENTAL PRICES in Vancouver 2016: How Rental Prices in Vancouver’s Census Tracts are Correlated to Transit.

• In this Transit versus Rental Prices map, my analysis depicts that transit was correlated to the different rental prices in the city. More specifically, it appears as if the more available rapid transit is to an area, the more expensive the price of home rentals within the corresponding CT’s. It is evident in the map that transit proximity is correlated to rental prices, as the areas that are cheaper for rent have less available or closer transit, while the areas that are more expensive have significantly more transit available. On the map, this can be seen through the gaps of the 400-metre buffers, which signify a five to seven minute walk to the bus stop or train station (Revington and Townsend, 2016). There are more of these gaps in the more affordable areas in contrast to the more expensive areas. For instance, most of the East Side of Vancouver is significantly cheaper to rent in than it is in the West Side, and through my cartographic depiction, it is conveyed that this result is correlated to transit in the city. The less-expensive East Side has less major rapid transit lines and bus stops than the West Side, and also consists of more gaps between the 400-metre buffer zones, meaning longer walks and a more strenuous effort to reach transit (Revington and Townsend, 2016). In addition, the less available transit to a rental home means more time being spent walking or commuting to these bus stops. Thus, I believe that is why these areas are cheaper and more affordable, as renters pay less money to live in the rented dwellings, however, they have to pay the price of less transit proximity to their homes and more time walking (Jones and Ley, 2016). In a sense, it can be argued that time is money in terms of transit versus rental prices. Furthermore, the West Side of Vancouver does boast a higher amount of rapid transit lines and bus stops, and therefore, the prices of rentals of dwelling homes are higher than in the East Side (McKay, 2013). Once again, this goes on to further prove that transit does correlate to rental prices, as rental prices can possibly be affected by the proximity and availability of transit within the Areas.