The City of Vancouver is reporting back on its first six months of its housing targets order from the province, and, uh…
Oof.
![Progress Towards Provincial Target Over the last six months, there have been approximately 1,600 net new units completed within Vancouver. Although it is common for completions to be lower in the first part of the year, we note a decline in completions over the last two years from 2022 to 2024. Table 1. Progress Towards Provincial Target Net New Units Year 1 – 6 month interim report (October 1, 2023 – March 31, 2024). The table shows net new units for Oct. 1 2023 to Mar. 31, 2024 is 1,607, with the provincial target for Oct. 1, 2023 to Sep. 30, 2024 is 5,202 Progress Towards Provincial Target Over the last six months, there have been approximately 1,600 net new units completed within Vancouver. Although it is common for completions to be lower in the first part of the year, we note a decline in completions over the last two years from 2022 to 2024. Table 1. Progress Towards Provincial Target Net New Units Year 1 – 6 month interim report (October 1, 2023 – March 31, 2024). The table shows net new units for Oct. 1 2023 to Mar. 31, 2024 is 1,607, with the provincial target for Oct. 1, 2023 to Sep. 30, 2024 is 5,202](https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd49c5f8c-e8af-43b0-97db-6ac2f8f50135_641x227.png)
Oof.
![Figure 2. City of Vancouver progress toward provincial guidance on breakdown categories from Oct. 1, 2023 to March 31, 2024. Net units by tenure: 819 rental vs. 788 owner. That's 51% and 49% respectively. Provincial guidance is for 72% rental and 28% owner. Gross units by size, actual vs. provincial guidance: 1-bedroom: 28% vs. 20%; studio: 18% vs. 40%; 2-bed: 37% vs. 18%; 3-bed: 17% vs. 22%. Rentals by affordability, actual vs. provincial guidance: Market rental: 99% vs. 62%; Units renting at or below housing income limits: 1% vs. 35%; Supportive rental units: 0% vs. 3% Figure 2. City of Vancouver progress toward provincial guidance on breakdown categories from Oct. 1, 2023 to March 31, 2024. Net units by tenure: 819 rental vs. 788 owner. That's 51% and 49% respectively. Provincial guidance is for 72% rental and 28% owner. Gross units by size, actual vs. provincial guidance: 1-bedroom: 28% vs. 20%; studio: 18% vs. 40%; 2-bed: 37% vs. 18%; 3-bed: 17% vs. 22%. Rentals by affordability, actual vs. provincial guidance: Market rental: 99% vs. 62%; Units renting at or below housing income limits: 1% vs. 35%; Supportive rental units: 0% vs. 3%](https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F696f2856-8a95-4b40-9e33-5d26ebb8964d_653x420.png)
Oof.
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Oof!
The City of Vancouver is reporting back on its first six months of its housing targets order from the province, and, uh…
Oof.
Oof.
Oof.
Oof.
Oof.
Oof.
Oof.
Oof!
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