says almost 3.5 million new units will have to be built by the end of the decade to bridge the affordability gap while accounting for population growth.report that found the average listed rents were the highest in Canada in August at $2,675, up 10.8 per cent in the past year. Vancouver alone saw the average asking price for a rental apartment hit $3,316 a month — an increase of 7.3 per cent."It's going to take a lot of supply before we notice an impact," he said.
"This includes modernizing zoning by-laws to accommodate high density development, streamline the permitting prices for new construction, and ensure other fees, taxes, and policies are in line with the broader goal of expanding the rental housing stock in Canada," she wrote. Meanwhile, Vancouver city council recently approved sweeping zoning changes that allow three to six units on residential lots