B.C. is taking bold action to make sure housing is more accessible and more affordable for people.
More homes for people, built sooner
A new, streamlined permitting process will make approvals easier, so construction on new homes for people can get underway, faster.
Protecting affordable rental housing
A new $500 million fund will soon be available to non-profit housing organizations to purchase affordable rental buildings and co-ops. This will help make sure these rentals stay on the market and people are better protected from renovictions and big rent spikes.
New Homebuyer Protection Period
A three-business-day protection period will allow for more time to secure financing and arrange home inspections, so you don't need to lock into financing terms you can’t afford or feel pressure to skip a home inspection and face repairs down the road.
Helping resolve rental disputes, faster
B.C. is taking action to add more staff and resources to make sure rental disputes get solved faster and is cracking down on serious offences, like illegal evictions. This means renters and landlords will get access to the protections, services and resolutions they need.
More housing for people experiencing homelessness in Vancouver’s DTES
New modular supportive homes are getting built in the Downtown Eastside. Nearly 100 people will soon be able to move from shelters into a stable, welcoming home with 24/7 support.
Housing Supply Act
The Housing Supply Act legislation will help increase the number of homes in B.C. by working with municipalities, with the highest growth and highest projected need, to establish targets for new housing and supporting municipalities to reach them.
Through this action, more houses will be built faster for people.
18+ age restrictions removed on stratas
New changes to the Strata Property Act will remove age restrictions in most B.C. strata buildings (55+ buildings will remain).
This means thousands more families can find good homes and people who decide to have children won’t have to leave their home.
New Ministry of Housing to tackle housing crisis
Housing will become its own standalone ministry to address the housing crisis in B.C.
Strata rental bans: removed
Stratas will no longer be able to stop condo owners from renting out their homes.
This will open up vacant units for rental and means there will be more homes to rent all over B.C. Strata short-term rental bans, like Airbnb, remain in place.
Taxing empty homes
The Speculation and Vacancy Tax makes sure much needed homes don’t sit vacant by encouraging owners to rent them out, in areas hardest hit by the housing crisis.
You only pay the tax if you own a home, but do not live in it or rent it out. Every homeowner must declare, but 99% of people in B.C. are exempt.
Rent increase capped
Rent increases in 2023 are capped below inflation at 2% to make sure renters can continue to afford their homes, especially at a time when other costs continue to increase.
More student housing
When exams are on your mind, access to affordable housing should not be. New student housing will make sure students can focus on building, and saving for, their future.
Everyone deserves a safe and affordable place to call home.
For too long, people all over B.C. have been watching as housing costs have skyrocketed, putting pressure on their budgets and keeping prices out of reach for most.
We are taking urgent action. Since introducing our Homes for BC 30-point housing plan and bringing in the Speculation and Vacancy Tax, we’re building record numbers of new homes and we’ve seen over 20,000 empty units turned into homes for people in Metro Vancouver alone.
But there’s still more work to be done.
Now higher interest rates and record population growth are also impacting housing affordability – driving up costs even further.
As a result, we are taking bold new action to create more homes for people in B.C.