BC Housing Issues New Home Registry Report

To provide the residential construction industry with more information during COVID 19, BC Housing issued an addendum to their regular registry report.

The province has seen a dramatic drop in new homes registered this year comapred to the same time period in 2019.

In the first five months of 2020, 13,218 new homes and units were registered in B.C., down 28.9% from 2019. The decline has been primarily driven by a decline in multi-unit enrollments.

Multi-unit: In the first five months of 2020, 5,682 new multi-units were enrolled. Compared with the same period in 2019, enrollments declined 45.6%. 2020 has had the lowest number of multi-unit enrollments between January and May since 2010 (5,450).

Purpose-built Rental: 3,639 purpose-built rental units were registered. Compared with the same period in 2019 the number of registered rental units in 2020 have decreased 15.3%, but still represent an increase of 15.4% compared to 2018.

Single Detached: 3,897 new single detached homes were registered. Compared with the same period in 2019, single detached registrations increased 1.3% despite small declines

in April and May.