NB Housing Strategy: Housing for All

New Brunswick is facing a housing crisis unlike anything we’ve ever seen before in this province. We are not alone. Canadians across the country are struggling with a tight housing market impacted by a number of factors.

In New Brunswick, one of the leading factors impacting housing supply is population growth. Over the last decade, and in particular, over the past five years, New Brunswick has experienced record-setting population growth after years of decline and stagnation. This has resulted in demand pressures in the rental and housing markets. Our population is expected to reach 900,000 by 2033.

This population growth has significantly outpaced development across New Brunswick, resulting in very low vacancy rates.

The market has started to shift to meet this growing and changing demand, but it will take time to catch up. Ensuring affordable and accessible housing for all is a fundamental step toward building a more equitable society.

The growth of our population is the combined result of both international and inter-provincial migration. In addition, younger migrants are shifting overall population dynamics to one that is more youthful, which is a positive for the province.

Housing preferences are also shifting. Younger adults and newcomers tend to prefer rental accommodations. As well, our aging population is downsizing into apartments. This has led to a lack of rentals which impacts retention rates, can limit population growth, particularly in smaller communities, and can stall economic activity.

Many of the housing challenges we are facing today are market-driven and stem from a lack of supply to meet an ever growing demand. A low inventory of housing at all price points has added pressure to the market.

The competitive real estate market has had a significant impact on the affordability of and access to housing across all regions of New Brunswick.

This has meant that many New Brunswickers have had difficulty finding an affordable home. In addition, pressures are being placed on our socially supported housing systems creating less access for our most vulnerable populations. Without immediate intervention, this problem will continue to worsen.

Finally, labor and cost pressures have limited the market’s ability to respond to these changing factors. Between 2011 and 2021, employment in the construction sector fell by 9,700 workers. Additionally, one in four construction workers is 55 years or older, which will result in an estimated 3,000 retirements in the next decade. It has only been since 2021 that we have seen a boost in employment in this sector after years of decline.

The Housing for All strategy outlines an initial stage of actions to begin addressing a lack of housing at all levels of the market. Without an ample supply of market-priced homes and rentals, the inventory of affordable housing will continue to be depleted. We need to take steps immediately to grow New Brunswick’s housing supply in both urban centers and rural communities.

Housing for All HOUSING FOR ALL VISION
Safe and affordable housing for all GUIDING PRINCIPLES
● Innovative solutions that will transform the housing sector and increase supply
● Strong partnerships between all departments, all levels of government, and the private and non-profit sectors to ensure successful and measurable outcomes
● Accountability and transparency in reporting the outcomes of the strategy’s implementation
● Continued evolution: implement, measure, and adjust

GOALS
● Create conditions to develop 6,000 new homes per year
● Reduce the percentage of NB households that spend more than 30 percent of their income on housing
● Help low-income New Brunswickers stay in their current housing
● Reduce the waitlist for subsidized housing by 3,000 households
● Contribute to the development of 220 homes over three years in small communities to help meet growing workforce needs
● Increase the number of skilled trades for residential construction by seven percent per year
● Incentivize the creation of new student housing units
● Increase housing options for seniors and those with accessibility needs

Also Read: Addressing the Affordable Housing Crisis