BC Housing has just released data showing that a record number of new homes will be registered in the province by 2021.
Under the Homeowners Protection Act, all new homes in the province must be registered with BC Housing. The registration must take place prior to the issuance of building permits or prior to construction in geographical areas where building permits are not required.
“This report shows that we can meet the challenge of increasing the supply of desperately needed rental housing for individuals, families and seniors in BC, as cities work with us to get building permits issued quickly for these registered units,” said David Eby, Attorney General and Minister responsible for housing.
Among the new homes registered in 2021, there were 12,899 purpose-built rents, which is an increase of 47.7 percent compared to the previous year. From 2017-2021, 51,616 new purpose-built rental homes were registered, more than the total of the previous 15 years (2002-16).
“The figures show that together we can respond to the more than 25,000 new people who have moved to British Columbia in the last three months in search of housing, and the thousands more we know are yet to come. We can only succeed in this great challenge if we have partners in cities, the federal government, non-profits, First Nations and the private sector to get these registered houses built and open.
The December 2021 New Homes Registry Report shows that 53,189 new homes were registered in BC in 2021, the highest annual total since BC Housing began collecting this data in 2002.
The BC government plans to invest $ 7 billion over 10 years, working with industry partners to build 114,000 affordable homes. Since 2017, the Province has funded more than 30,000 affordable new homes that are ready or under construction for people in BC