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Les Leyne: Despite province's 'all-front attack,' housing starts dropped last year

9 0
07.03.2025

After sustained, monumental efforts on the housing crisis during which billions of dollars were committed, the entire zoning system was rewritten and local governments were issued punitive hurry-up orders, it was disconcerting to see three little numbers tucked away in the budget.

There was a 9.2 per cent decrease in housing starts last year.

The value of residential building permits declined 8.3 per cent last year.

The number of units in those permits dropped 10.8 per cent.

The analysis puts the best possible face on that dismal performance. It shows that the annual numbers fluctuate and notes that the 45,828 official starts are higher than the historical average (by 10 per cent).

The historical average is a notably low bar for comparisons. The historical average is partly what got us into this crisis.

The outlook for housing starts has “softened slightly,” but the forecast is for it to rise slightly and hit 49,900 by 2027.

But it is striking that the NDP’s all-front attack for a sustained period of time on the highest-priority problem in B.C. can’t show........

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