The housing crisis in BC is getting worse, to the point that four out of every five renters in the province couldn’t afford an equivalent unit in their neighbourhood if they had to end their tenancy.
That’s according to a new Research Co. affordability poll commissioned by the British Columbia General Employees Union.
It found only 17% of BC renters surveyed could afford an equivalent unit in their community if they were evicted today.
What’s more, people are already being forced out of unaffordable housing. Of the renters polled, 27% said they had no choice but to leave their area because they couldn’t afford to stay.
“Without meaningful near-term regulation of land prices, rent and mortgage costs will continue to create shortages of skilled workers in the economy from nurses to tradespeople, and further erode quality of life,” BCGEU treasurer Paul Finch said in a news release.
A province-wide poll commissioned for our #AffordableBC campaign shows that majority continue to support stronger regulations and increased public investment in housing as affordability continues to worsen.#BCPoli #VanRE https://t.co/xrNhDgjY6d
— BCGEU (@bcgeu) May 8, 2024
He’s calling for windfalls from rising land values to be partially re-invested into rapid transit and affordable housing for workers. The BCGEU is advocating for a new tax on land value as well as vacancy controls on rental units keeping prices steady between tenants.
The poll was conducted between April 29 and May 2 and surveyed 807 adults in BC.
Rents for vacant one-bedroom apartments in Vancouver hovered between $2,600 and $2,700 on average in April, coming down slightly from post-pandemic highs when asking rents for one-bedroom units crossed the $3,000 threshold.