THE most recent data from Canada Mortgage Housing Corporation’s (CMHC) 2020 Rental Market Report clearly outlines the rising costs facing renters in Surrey under the NDP, say the BC Liberals.
“John Horgan and his Surrey NDP MLAs promised to make life more affordable, but instead residents are trying to cope with rent increases that are higher than anywhere else in Metro-Vancouver,” said Stephanie Cadieux, MLA for Surrey-South, on Monday. “Despite greater supply in the region, Surrey renters are still saddled with rising costs. The NDP promised action four years ago but they are clearly failing.”
The CMHC Rental Market Report outlined Surrey’s average cost of rent has gone from $1,005 to $1,250 per month since 2017. The average renter is left paying $2,700 more per year under John Horgan’s government.
“At one of the most challenging times in British Columbia’s history, with mounting job losses and an uncertain economy, the NDP needs to deliver some relief to Surrey and White Rock residents,” said Trevor Halford, MLA for Surrey-White Rock. “Not only has the vacancy rate in White Rock decreased, but the average cost of rent is also up. There is still no sign of the promised $400 annual renters’ rebate, nor does the government’s rental freeze appeared to have had any impact on rising costs in 2020. Families, seniors and all Surrey residents need a solution now that will actually deliver affordability.”