Building & Industry News

Three Housing Myths Dispelled

Here are some common housing myths: Myth #1: Houses are unaffordable Many structures are affordable, but the land is unaffordable. For example, a 1960’s bungalow on a 10,000 sq ft lot in Saanich was assessed at $813,300 by BC Assessment in July 2019. The building is...

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Watch for 2020 CARE Awards

The Victoria Residential Builders Association will continue to hold the 29th annual CARE Awards this year as a virtual online event in November. This year’s CARE Awards Chair is Gordon English, Genco Construction, a VRBA Past President and winner of the Lifetime...

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Rising Lumber Prices Boost Inspection Fees

The cost of lumber is rising significantly, adding thousands of dollars to the cost of building a home. The average price for SPF (spruce, pine, fir) 2 x 4 in 2019 has increased from $372 U.S. per thousand board feet to $746, a jump of 100%. Municipal...

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Portland Policy Boosts Housing

Portland recently adopted a creative policy allowing up to six homes on most residential lots. Previously, on a 50 x 100 sq ft lot, a single home up to 6,750 sq ft could be built.  Now basement suites, garden suites, cottage clusters, duplexes, four-plexes and...

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West Shore Driving New Housing & Jobs

Most residential construction jobs are being created in the communities where it’s easiest to do business - Langford and Colwood. According to the latest CMHC data, from January to July 2020, 54% of new housing is being built in two out of 13 CRD municipalities. In...

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Municipal Inspections Generate Big Surpluses

Municipalities normally generate big surpluses through development and permit fees. Victoria’s development fees generated a $500k surplus in 2016 and in 2017 they increased the fees. A review of Saanich accounts reveals inspection fees earning a 50% surplus during the...

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Housing Can Assist Municipal Shortfalls

A number of municipalities, including the City of Victoria, report significant revenue shortfalls during the COVID-19 pandemic. Sources of declining revenue include permits for new housing. Yet demand for homes is stronger than the same time last year. The Victoria...

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