NEWS

2012 a record year for Vancouver rental housing

01/27/2013 05:45 EST | Updated 03/29/2013 05:12 EDT
Vancouver set a record in 2012 for rental housing starts, the city says.

The city says more than 1,000 new rental units were approved for construction last year — a big jump over the previous four years.

An average of 328 units were approved in each of 2010 and 2011, after none had been approved in the two years prior to that.

The push for new rental units is part of the city's goal to address a lack of affordable housing.

Despite the approvals, the vacancy rate of 1.8 per cent for rental units in Vancouver is considered very low.

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