The Capital Region’s supply of new housing is lagging sharply behind population growth, according to newly released Statistics Canada census data.

 

Despite a population increase of 6.7% between 2011 and 2016, which saw the number of inhabitants throughout the Capital’s thirteen municipalities rise by over 23,000 people, the number of private dwellings rose by 3.19% to 172,559 from 2011’s housing stock of 167,229-units. By comparison, between 2006 and 2011 Victoria’s housing stock grew by 7.7% while the population increased by 4.4%.

 

By the numbers, the largest supply of new homes was on the Westshore, which includes the municipalities of Colwood, Highlands, Metchosin, Langford, Sooke, and for the purposes of this article, the Township of View Royal. Total dwelling counts rose from 30,978 in 2011 to 34,465 in 2016, a jump of 11.3%, or 3,487-units. The Westshore’s population growth over that period, inclusive of View Royal, was 13% and brought the population base up to 82,543 people.

 

The four core municipalities of Victoria, Saanich, Esquimalt and Oak Bay saw a relatively minor housing increase of 1.14%, or 1,299 units. Despite collectively being home to the region’s largest population base, the volume of new housing fell well below the rate of population growth of 5% which yielded 11,686 new inhabitants over the five year period, totalling 235,679 people.

 

However, it should be noted that Statistic Canada's data depicts a net decrease in housing units for both Saanich and Oak Bay, representing a unit drop of 0.5% and 0.83%, respectively, compared to 2011 census data. Meanwhile unit counts for Victoria and Esquimalt increased by 3.19% and 1.09%, respectively. A request for clarification by Statistics Canada was not available by press time.

 

On the Saanich Peninsula, which includes North and Central Saanich and the town of Sidney, the dwelling count rose by 2.62%, or 460 units, bringing the total to 18,017 homes. The three municipalities grew at a rate of 4% and are now home to 39,735 residents.

 

The five-year period also saw an increase in the number of non-full-time residences in the region. In total, 15,971 residences throughout the Capital were not used as full-time homes by their owners, representing 9.3% of total housing inventory. Five years earlier the 13,901 non-full-time residences represented 8.3% of the Capital’s 167,229 homes.

 

And due to rising real-estate values fuelled partially by an under-supply of housing inventory in the Capital, many would-be or former Victorians have opted to settle in the Cowichan Valley Regional District (CVRD) north of Greater Victoria. The CVRD includes Victoria’s bedroom communities of Malahat, Shawnigan Lake, Mill Bay, Duncan, and several others, which collectively grew by 4.2% over the last five years and are now home to 83,739 inhabitants. Over that period total dwelling counts rose by 5.56% to 37,919-units. C