Building & Industry News
Housing Starts up 46% in Greater Victoria
CMHC reports total housing starts are up 46% from Jan to Aug vs last year (2,154 to 3,072) mostly due to Victoria condos/apt rentals increasing from 86 in 2020 to 1,025 this year. Most single-family, semi-detached homes (townhomes, duplexes) continue to be built in...
Reno Rebate Needed for Seismic Safety, Asbestos
During the federal election, candidates should consider a renovation rebate or tax credit to promote seismic safety and mitigation of asbestos in homes. There are hundreds of tremors and small earthquakes annually in our region that usually go unnoticed. They are...
A Housing Primer for Election Candidates
During the federal election campaign, most party leaders are promising to build hundreds of thousands of homes. On the positive side, finally there is recognition the primary source of unaffordable housing is lack of supply. But there are major problems with...
Housing Questions for Election Candidates
A federal election is underway and voting day is Monday, Sept 20, 2021. Housing is a priority for Canadians, so here are housing issues and questions for the candidates: GST New Home Rebate BC has the highest average home price in Canada - $891,369, double the...
Zoning – An Artificial Scarcity of Supply
I recently wrote about the costly process of rezoning and the demand for Community Amenity Contributions described in a provincial housing report “Opening Doors.” The report said, ‘Zoning-based charges (CACs) discourage proactive zoning for more homes…local...
New Housing Missing Middle in Many CRD Municipalities
CMHC's July housing starts report for Greater Victoria highlights the lack of new housing for young families in the region. While the number of starts year-to-date for 2021 have increased 29.5% to 2,500 from last year's 1,930, what stands out is the lack of middle...
Myth of the National Home Price
When Canadians read news stories about rising housing prices, they are often provided with a “national average price.” Often this precedes the conclusion that housing prices across the country are “out-of-control” and government intervention is needed, including a tax...
Focus on Numbers, Not Political Rhetoric
As every homebuyer knows, the purchase of a home is based on numbers. Financial institutions require a down-payment representing at least 5% to 10% of the price, and an income sufficient to pay the mortgage and other living expenses. Political spin such as the alleged...
Homebuyers Overpaying for BC Step Code
New building code regulations often fly under the radar in discussions about high housing prices. An example is the BC Step Code, an energy efficiency regulation circumventing the Canada/BC agreement to harmonize with the National Building Code. Step Code implies...
Greater Victoria Housing Starts Increase 20%
CMHC reports housing starts in Greater Victoria have increased 20% year-to-date vs last year from 1,567 to 1,883. Langford continues to lead the region with 830 new homes or 44% of all new housing. The increase from June 2020 to June 2021 is actually significantly...