Thursday, March 28, 2024
ADVT 
National

Rental Home Building Increasing In B.C.

Darpan News Desk, 14 Jan, 2020 05:54 PM

    New data released by BC Housing shows a significant increase in the number of purpose-built rental homes registered in British Columbia, while continuing to show high levels of new home registrations overall.


    The December 2019 New Homes Registry Report shows that in 2019, 12,289 purpose-built rental homes were registered in B.C., a 64% increase compared to 2018. Compared to 2016, the increase is even more significant, at more than double the 5,173 rentals registered that year.


    Data from the most recent three years, 2017-19, shows 28,642 new purpose-built rental homes were registered, which is more than the previous decade’s combined total.


    “Our government’s record investments in housing affordability, along with measures to reduce speculation in the market and stimulate an increase in rental supply, are delivering much-needed rental homes for people throughout the province,” said Selina Robinson, Minister of Municipal Affairs and Housing.


    “This data is an encouraging sign that we are heading in the right direction and that our policy actions are shifting the market toward delivering more of the right type of housing that meets the needs of the people who live here.”


    Purpose-built rentals represented more than a quarter (28.2%) of all housing units registered in 2019, up from 16.4% in 2018 and the highest proportion achieved since BC Housing started collecting this data in 2002.


    This increase in purpose-built rentals comes in the context of continued high levels of new home registrations, with the last three years representing record levels, well above the 10-year average. Registered new home data is a leading indicator of housing activity in B.C. as the data is collected at the beginning of a project before building permits are issued.


    Delivering affordable housing is a shared priority between government and the BC Green Party caucus and is part of the Confidence and Supply Agreement.


    Quick Facts:


    Under the Homeowner Protection Act, all new homes in the province are required to be registered with BC Housing. The registration must occur prior to the issuance of building permits.


    Budget 2018 launched the most significant investment in housing affordability in B.C.'s history – more than $7 billion over 10 years. As a result of that investment, more than 22,000 new homes are completed or underway in communities throughout B.C. (as of Aug. 31, 2019).

    MORE National ARTICLES

    Tough Rules For Conservative Leadership Race Could Thin The Field

    OTTAWA - Conservative leadership hopefuls are spinning up their organizations Monday with the official start of the federal party's leadership race.    

    Tough Rules For Conservative Leadership Race Could Thin The Field

    Horse Killed, Rider Injured In Collision On CN Rail Tracks In Southern B.C.

    Horse Killed, Rider Injured In Collision On CN Rail Tracks In Southern B.C.
    KAMLOOPS, B.C. - A horse has been killed and its rider was injured in a collision with a train on Canadian National tracks near Kamloops, B.C.

    Horse Killed, Rider Injured In Collision On CN Rail Tracks In Southern B.C.

    Body Found In Maple Ridge, B.C., Considered Suspicious Death: Homicide Team

    The Integrated Homicide Investigation Team says a body was found in a rural area of the city on Saturday.

    Body Found In Maple Ridge, B.C., Considered Suspicious Death: Homicide Team

    MISSING: Toronto Police Looking For 28-Year-Old HEERAL PATEL

    Heeral Patel, 28, was last seen on Saturday, January 11, 2020, at 11 p.m., in the Islington Avenue at Steeles Avenue West area.

    MISSING: Toronto Police Looking For 28-Year-Old HEERAL PATEL

    People Come Together In Vancouver To Mourn Iran Plane Crash Victims

    VANCOUVER - The national defence minister says last week's downing of a Ukrainian jetliner is a national tragedy and the government will work tirelessly to get answers for grieving families.    

    People Come Together In Vancouver To Mourn Iran Plane Crash Victims

    Applications Open For Indian Day-Schools Compensation

    Applications Open For Indian Day-Schools Compensation
    OTTAWA - A long-awaited program to provide financial compensation to survivors of Canada's Indian day schools is now open for applications.    

    Applications Open For Indian Day-Schools Compensation