According to a report commissioned by the province, more than 115,000 new housing units were awaiting approval in six Metro Vancouver municipalities.
The cost of buying and renting is driven upward by a scarcity of available homes.
Developer fees comprised 13.2 per cent of municipal revenue in the City of Vancouver in 2016.
Both Toronto and Vancouver require at least one space per residential unit in most of the city.
The Horgan government now says it will peg allowable rent increases to inflation, estimated at 2.5 per cent for 2019.
The owners of 67,000 lots currently zoned for single-family housing can now rebuild their homes as duplexes.
The imbalance between the number of available units and the number of would-be renters drives up rents.
Survey says large majorities of homeowners in Metro Vancouver and the Greater Toronto Area want housing prices to stop rising.
Seattle’s rental vacancy rate jumped to 5.4 per cent—five times that of the GTA.
Ride-hailing services are in high demand in B.C.’s Lower Mainland.