Building & Industry News
Victoria Restrictions Drive Out New Housing – StatsCan Report
A report by Statistics Canada called "Price trends and outlook in key Canadian housing markets" dated July 21, 2020 places the blame for Victoria's declining housing supply on council's "affordability restrictions" including the inclusionary housing policy requiring...
House Prices Rise Under Speculation Tax
Listen to our Speculation Tax ad. The BC government’s Speculation Tax has not created housing affordability, instead prices continue to rise. The BC government’s policies are the source of the problem, not the solution. A study by the CD Howe Institute says govt...
Housing Questions for BC Election Candidates
BC will elect a new provincial govt on Oct 24. Ask candidates about these measures to improve housing. Renovation Rebate/Tax Credit Seismologists predict a 30% chance of a damaging earthquake within 50 years. A renovation rebate/tax credit will improve seismic safety...
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...
New Housing Up 8% in Langford, Down -81% in Victoria
Based on the latest CMHC statistics, Langford continues to lead in new home construction and jobs posting 840 starts from January to August 2020 vs 776 starts during the same time last year. Langford is up 8% this year and accounts for almost 40% of all new homes. The...
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...
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...
Provincial Committee Recommends Efficient Housing Approvals
The BC govt has released its report on the Budget 2021 Consultation in which VRBA did a presentation covering a number of issues including the need for efficient municipal processes for new housing applications. We suggested best practices for municipal rezonings and...
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...
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...