New data released by BC Housing shows a record number of new homes registered in British Columbia in 2021.
Registered new homes data is collected at the beginning of a project, before building permits are issued, making it a leading indicator of housing activity in B.C.
“This report shows that we can meet the challenge to increase the supply of desperately needed rental homes for individuals, families and seniors in B.C., if cities partner with us to get building permits issued quickly for these registered units,” said David Eby, Attorney General and Minister Responsible for Housing. “The numbers show that together we can respond to the more than 25,000 new people who moved to British Columbia in the last three months looking for homes, and the thousands more who we know are still coming. We can only succeed in this major challenge if we have committed partners in cities, the federal government, non-profits, First Nations and the private sector to get these registered homes built and open.”
The December 2021 New Homes Registry Report shows that 53,189 new homes were registered in B.C. in 2021, the highest yearly total since BC Housing started collecting this data in 2002. Compared to 2020, new home registrations increased by 67.5%.
Among the new homes registered in 2021, 12,899 were purpose-built rentals, which is a rise of 47.7% 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 B.C. government is making the largest investment in housing in B.C.’s history – $7 billion over 10 years – and working with partners to deliver 114,000 affordable homes over 10 years.
- Since 2017, the Province has funded more than 30,000 affordable new homes that have been completed or are underway for people in B.C.