Homeowners in designated taxable municipalities covered by the speculation and vacancy tax will soon receive their annual declaration letters, as part of the Province’s work to fight real estate speculation and deliver more homes to people.

New data released by BC Housing shows for the second consecutive year, a record number of purpose-built rental homes were registered in British Columbia, approximately 30% more than in 2022.

The speculation and vacancy tax is helping turn empty units into homes and creating affordable housing in communities throughout the province, new data confirms.

Taking action to tackle some of the biggest challenges people in B.C. are facing was at the centre of several new pieces of legislation passed during the fall session, including the most significant housing legislation in B.C. history to deliver more homes for people faster.

British Columbia’s economic and fiscal plan remains stable in the face of a slowing global economy and high interest rates as the Second Quarterly Report forecasts a lower deficit than in the previous fiscal update.