Wednesday, May 11, 2022
At a glance (1 minute read)
- A recent CMHC report determined housing supply is the main factor behind unaffordability in Canada.
Canada’s housing supply shortage continues to be the main factor contributing to housing unaffordability, according to new research from Canada Mortgage and Housing (CMHC).
The Housing Supply Report provides insights and analysis on new housing supply in Canada’s six largest Census Metropolitan Areas (CMAs).
Key highlights – Vancouver
- Multi-family development accounted for more than 85 per cent of new construction in Metro Vancouver in 2021. Much of this construction concentrated in specific areas near transit.
- The Vancouver region continues to experiment with innovative alternate housing forms to intensify the use of its limited and expensive land area.
- These innovations, along with further densification, are much needed given the significant supply gaps that Vancouver faces now and in the future.
- Secondary suites and laneway homes are examples of housing forms built in Vancouver that could be replicated in other Canadian cities to diversify their supply of rental housing.
The Housing Supply Report is the first of a series of publications to be released during 2022 and 2023 addressing supply.
Upcoming reports will provide analysis on the magnitude of current and future supply gaps.
Read the Housing Supply Report (Opens 41-page PDF)
Credit to: CMHC, May 2022