The Lower Mainland is expecting a rise in immigration of at least 50% in 2021. For new residents from the rest of Canada or from around the world, the pandemic has made the Lower Mainland more desirable than ever. This is great news, as more residents are a fantastic boon to our culture and economy.
But this boom in immigration means we need to meet this demand with rental homes in our cities. Unfortunately, almost no municipality in the Lower Mainland has come remotely close to adding enough rental homes to simply break even on incoming rental demand.
In White Rock, over 95 new residents will have to compete for each new rental home. In Surrey over 65 new residents will compete for each new rental home. Even Vancouver, near the top of the list for rental home construction, still underdelivered, leaving almost 10 new residents fighting over each new rental home.
Municipal governments have been short-sighted in failing to address the lack of new rental homes being approved and built in our region.
You can see how your municipality did in terms of adding new rental homes below.
Let your local and government know new rental homes are important to you. Send a letter to the provincial government asking them to intervene and speed up rental home construction at: https://bcrentalproject.ca/