New data by BC Housing shows a record number of purpose-built rental homes were registered in British Columbia, approximately 30% more than in 2022, the Province said in a news release.
The December 2023 New Homes Registry Report shows 19,064 rental homes were registered last year, the highest annual total since BC Housing started collecting this data in 2002.
Compared with 2022, registered rental units increased by 30.9%, the Province noted.
“Our government’s actions to tackle the housing crisis are starting to take hold as evidenced in the record-setting number of purpose-built homes registered in B.C. last year,” said Ravi Kahlon, Minister of Housing. “When you compare that to the fewer than 2,000 rental units registered in 2012, it’s quite remarkable how the landscape has changed under our government. I want to thank our province’s construction industry for its work in getting more homes built for the people of B.C.”
In total, 45,647 new homes were registered in B.C. in 2023. These include 6,522 single detached homes and 39,125 multi-unit homes. Registered new-home data is collected at the beginning of a project, before building permits are issued, making it a leading indicator of housing activity in BC. The province said its investments since 2017 have delivered more than 77,000 homes.
