Housing in Metro Vancouver, are we building enough homes?

The Homebuilders Association Vancouver (HAVAN) recently released a report called Are We Building Enough Housing Supply? The 2022 report looked at the percentage of annual housing surplus and/or shortfall by municipality in relation to Metro Vancouver’s 2040 Regional Growth Strategy projection. What it found was that as of the 2021 census, Metro Vancouver was short more than 68,000 homes.

Why is this important to prospective homebuyers?

The bottom line is the cost of housing. Without the necessary housing supply required to meet the demand for homes in the Lower Mainland, land costs will continue to rise at inflationary rates.

Recognizing that global constraints, supply issues, inflationary pressures and employment shortages all add to the challenges of building homes these days, the one area we can look to improve is to deliver housing that streamlines and expedites the approvals process.

The right mix

It is important to note that volume alone is not the key here, but rather, a sufficient supply with the right mix of housing to meet the needs of each municipality.

The right mix of housing supply has been identified as a logical equalizer to help stabilize the cost of land. This means encouraging the building of duplexes, multi-plexes, row homes and laneway homes to introduce gentle density that does not denigrate the existing character, streetscape, and scale of any given neighbourhood. The logical place to plan for the proper mix of housing is at the Official Community Plan (OCP) stage.

Welcoming input from the public

Inviting input earlier in the process from interested citizen’s groups promotes transparency and avoids costly revisions later in the planning process. Limiting input at the OCP stage can help avoid fragmenting the approvals process on a lot-by-lot, project-by-project basis, which systematically opens the opportunity for small groups, or a single voice to impede construction intended for the betterment of the larger community.

Thriving communities offer the right mix of housing for people to live and work close to home, while welcoming new immigrants to help grow our economy, and allow people to remain in their neighbourhoods as they downsize or grow. Some people may think their communities have enough homes, but in the context of Metro Vancouver’s 2040 plan, building homes remains an essential piece of the solution for tomorrow’s generations, today.

Collaborative solutions

A report of this nature helps to monitor the pulse of building enough housing of all types to serve our communities across the region.

Solutions require the partnership and collaboration with local governments and private industry to ensure the right mix of enough homes can be built to meet the needs of all citizens, across all Metro Vancouver municipalities.
As we look to municipal elections this fall, it is imperative to understand where local governments are succeeding, or falling short, and to vote for officials who support proactive solutions to meet Metro Vancouver’s housing needs.