Building & Industry News

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...

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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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