12,899 of the new homes registered in 2021 were purpose-built rentals, which is a rise of 47.7 per cent over the previous year.
VICTORIA – A total of 53,189 new homes were registered in BC in 2021, the highest annual total since BC Housing began collecting the data in 2002.
Registered new homes is data that is collected prior to starting a project, before building permits are issued. The provincial government made announcements last year expressing its concerns about the backlog of building permits and the slowness in getting new projects started.
The lack of supply and new homes available for sale or rent in all price points has been identified by real estate and construction industry experts as one of the major causes of the escalating prices of housing in the province.
12,899 of the new homes registered in 2021 were purpose-built rentals, which is a rise of 47.7 per cent over the previous year. From 2017-21, there were 51,616 new purpose-built rental homes registered, more than the combined total of the previous 15 years (2002-16).
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 or prior to construction in geographical areas where building permits are not required.
The BC government has committed to investing $7 billion over 10 years in housing, including delivering 114,000 affordable homes.
