It's not cheap
Yes, people who decide to live in the city get it the worst. BC as a whole is insanely incredible though, I couldn't care less about the city really, although I guess it is deemed one of the most beautiful (if there is such a thing). BC to me is the Interior (Okanagan Valley, or North to Kamloops, Vernon etc) the Island, Sunshine Coast (where it rains all the time) etc.
The City of Vancouver is expensive as hell, unless you find the right deal in South Vancouver/Marpole etc (bordering the 'burbs). I actually pay less for my place than a place half the size down the road, but that because I lived here a long time and managed to squeeze into the right deal when it came up.
Locals who have lived here a long time don't live in Van city as much though, too many accessible suburbs that are so much more affordable and commutes are minimal, from the right spots.
Besides the UK, this is the only place I'd want to live.