Building & Industry News
NEW HOME CONVERSION PROPOSAL ASSISTS SUPPLY, AFFORDABILITY
The City of Victoria is considering an important home conversion policy that may improve supply, vacancy rate and affordability. CMHC reports vacancies in Victoria have dropped to 1%, adding to our housing challenges. Canada’s strong population growth of over half a...
National Building Code Changes to Energy Efficiency for Housing
Codes Canada has announced a public review on changes to National Building Code including seismic & energy efficiency from Jan 13 to March 13. This is the public review that VRBA has suggested municipalities wait for, which includes a prescriptive option for...
Crystal Ball Housing Forecast – Wed Jan 29
Due to inclement weather the Crystal Ball was postponed. The new date is Wednesday, January 29. What's in store for the housing industry in 2020? Hear presentations by BCREA's Chief Economist - a 2 time forecasting winner; sales expert/President of the Victoria Real...
STUDY SHOWS HOUSING AFFORDABILITY BEST SERVED BY MARKET
The Connectedness of Our Housing Ecosystem, an article by Daniel Herriges, reflects on a new study called The Effect of New Market-Rate Housing Construction on the Low-Income Housing Market by economist Evan Mast. Mast tracked the migration of families moving in and...
2019 Municipal Hall of Shame For New Housing
CMHC announced the total housing starts for 2019 and it doesn't look good for a number of municipalities. While it can be argued a market softening was coming due to the mortgage stress test, BC speculation tax, and other regulations, severe declines highlight the...
Families Need Missing Middle Housing
CMHC announced our region’s housing starts for January to November 2019 and there is a 7.3% decline vs 2018 from 3,498 to 3,242. Demand is still strong, especially among a large millennial demographic, however challenges include land costs, zoning restrictions, slow...
Development Education Program Needed
One of the challenges of being a developer and builder is explaining our business model and the opportunity for community revitalization to elected officials and the public. For example, if the community expects amenities, significant green space, preservation of...
National Building Code Review for Energy Efficiency in New Homes Coming in January
The National Building Code is holding a public review in January 2020 for energy efficiency in new home construction. Visit...
Colwood Housing Up 128% While Saanich Declines 57%
CMHC housing starts for Greater Victoria from Jan – Nov 2019 show a total of 3,242 new units compared with 3,498 the same time last year for a decline of -7%. Biggest declines are Central Saanich -75% Oak Bay -73% Saanich -57% and North Saanich -51%. Biggest increase...
Try VRBA Expression of Interest
Thinking of building a new home or renovating? Try our online Expression of Interest making it easy to get quotes from VRBA’s professional contractors. Visit vrba.ca/hire-a-vrba-member and fill out the form which is forwarded to members. There is no cost or...