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HomeNewsReport on BC’s housing crisis finds not enough of the “right supply”

Report on BC’s housing crisis finds not enough of the “right supply”

The Union of BC Municipalities released a report pointing to other factors within the province’s housing crisis that need to start being addressed.

In the report, it was shown that between 2016 and 2021 Prince George’s population grew by 3.3%, but the dwelling growth in the city grew by 4.8%.

Many other municipalities saw similar statistics, with the dwelling growth outpacing the population growth.

Overall, the province’s population saw a 7.6% growth, with a 7.2% increase in dwelling growth.

The report said incentives need to be in place for the right supply of housing, as more affordable rental housing and co-ops were needed.

It was also noted that too much of the new housing being built is investor driven, and that skews prices of homes in the province, and makes it more difficult to enter the housing market.

Recommendations were made to implement an all-government approach towards housing affordability, adding that a Demand Management Strategy needs to be in place, as well as a Rental Housing Strategy to better incentivize investments into attainable housing.

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