Menu Filter

Victoria Policy Raises Costs & Erodes Confidence

Victoria council is planning to adopt a policy where 20% of units in new, large residential strata buildings must meet the city’s affordability criteria. The Times Colonist reports the city’s own consultants and other industry experts warn against this because it will discourage development. Victoria’s population growth has exceeded new housing starts since 2011 and […]

Read more →

Stress Test, Taxes & Fees Erode Single Detached Housing Supply in May

CMHC reports May’s single detached housing starts in Greater Victoria declined 39% compared with the same month last year. Starts dropped from 93 to 57, an indication that affordability continues to be a challenge, particularly since the introduction last year of the mortgage stress test, speculation tax and other government regulations inhibiting supply. The stress […]

Read more →

Victoria Council Considers New Exclusionary Housing Policy

On June 13, Victoria Council will review a proposed “inclusionary” housing policy which actually excludes more new homebuyers unable to add the costs of council’s demands onto their mortgages. In our letter to council, we oppose their policy and say: “Since 2016, the city has collected millions of dollars from new development. The report also […]

Read more →

Interview with VRBA in Canadian Contractor Magazine

Casey Edge, VRBA’s Executive Director was interviewed in Canadian Contractor magazine and had this to say about residential construction, BC Energy Step Code, housing affordability and other topics.   

Read more →

Join VRBA at Annual Renewal

Thinking of joining an industry association? Now is the time, during our annual membership renewal at the Victoria Residential Builders Association. Based on our principles of effective, efficient & affordable, we have re-invented the traditional association. VRBA provides: Renovation and new home projects sent directly to our builders; Free education seminars offering CPD credits required […]

Read more →

View Royal Affordable Housing Project Deserves DCC Waiver

View Royal Council is considering a DCC waiver for an affordable housing project creating 152 affordable, not-for-profit rentals, which is what the BC government has in mind when enabling local governments to provide DCC waivers. VRBA sent a letter outlining some of the reasons the DCC waiver is appropriate, including the developer’s donation of 12.5 […]

Read more →

Mortgage Test Adds Stress, Not Affordability

The federal government’s mortgage stress test appears to be doing more harm than good, especially for the younger generation. Central 1 Credit Union says “They’re (first-time buyers) still facing a down payment constraint due to the federal mortgage stress test so even though prices have come down they’re not necessarily in any better position to […]

Read more →

VRBA Opposes Saanich DCC and Building Bylaws Raising Costs

On May 27, Saanich Council will consider and likely pass several items adding significant costs to housing.  VRBA has sent the following letter to council opposing the new costly bylaws: May 24, 2019 Mayor Fred Haynes and Council District of Saanich 770 Vernon Ave, Victoria, BC V8X 2W7   Dear Mayor and Council Re: Development Cost […]

Read more →

More Affordable, Safer Housing in the News

Interesting news stories about housing surfaced last week. First, CMHC’s latest study says Victoria house prices are moving closer to levels supported by market fundamentals such as population, personal disposable income and interest rates. They also report that young adults are a key driver of increasing household formation. We have said for some time that […]

Read more →

CMHC Report: Millennials Driving Growth, Little Change in Housing Inventory

CMHC’s latest Housing Market Assessment reports, “While house prices in Vancouver, Victoria, Toronto and Hamilton continue to move closer to levels supported by housing market fundamentals such as population, personal disposable income and interest rates, we continue to see a high degree of vulnerability in their overall assessment.” For Victoria, they report, “The population of […]

Read more →

Join the Victoria Residential Builders Association – Sign up to become a member