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Having 947 rental homes built in a year is “laughable,” said David Goodman, a principal of Goodman Commercial, who has been marketing and selling apartment buildings since 1983. “It won’t move the needle at all. It will have zero affect on vacancy rates.”

The Goodman report draws its information from municipal governments, developers, and site visits. Postmedia asked the City of Vancouver for comment Monday on the Goodman report’, but received no response before deadline.

While Vancouver still had the highest number of rental completions in Metro this year, the report highlighted some smaller municipalities like Coquitlam and the City of North Vancouver, crediting them for policies that have boosted the number of rentals “in the pipeline.”

B.C.’s Housing Minister Selina Robinson recently touted the province’s housing progress, saying “we are well on our way of achieving our goal” of adding 114,000 affordable housing units over 10 years. Robinson said Sunday that 22,460 homes have been completed or were underway, more than 80 per cent of which either under construction or in the early development process.

Of the 3,532 publicly funded homes completed around B.C. since September 2017, 157 units are “market rental homes and owner purchase homes for people with middle incomes,” the ministry said in a statement Monday, 633 are non-profit housing for low- and middle-income households, 650 are student housing and 2,092 are supportive housing.