Vancouver adds 4,850 new homes in 2025 and continues to lead region in rentals

Vancouver achieved its housing target by completing 4,850 new homes in 2025, approximately 90% of its goal. Of these, 86% were rental units, underscoring the city's commitment to affordable housing solutions. Over the past two years, the city has seen a total of 9,000 units completed, with 15,100 units currently under construction. The city anticipates 30,900 additional units will be finished in the next five years, exceeding the provincial target of 28,900 units by 2028. Efforts to improve housing delivery include launching a streamlined multiplex review process, which reduces processing time by 49%.

The city also expanded digital permitting tools and allowed fee deferrals to ease costs for builders. These measures respond to challenges such as rising construction costs and economic uncertainty. Vancouver continues to prioritize rental housing, accounting for 45% of new rental starts in the region.