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Housing Off To Slower Start Than 2017

Housing is off to a slower start than January 2017 according to CMHC which says “Housing starts are forecast to taper down from a record setting year in 2017. ” This was anticipated. Last year posted 3,862, the highest number since 1976.   Housing starts in the first month of 2018 were 100 compared with 175 during […]

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CMHC Report on Housing in Large Cities

CMHC has released a report called Examining Escalating House Prices in Large Canadian Metropolitan Centres.  One of their interesting points is that “Current (development) processes seem to restrict supply by giving undue control to narrow interests.” This coincides with our view: A Recipe for Zero Development  

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Municipal Inspections Generate Big Surpluses

Municipalities have been making big surpluses through development and permit fees. Victoria’s development fees generated a $500,000 surplus in 2016 and in 2017 they increased the fees. A review of Saanich accounts reveals inspection fees earning a 50% surplus during the past few years. In 2016, the surplus was more than $1 million. Their budget […]

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Free Seminar On Digital Marketing – Feb 20 IMAX Theatre

The Times Colonist presents: How Small Business Can Leap Ahead Using Digital Marketing. See the attached pdf. Join Daniel Laporta and Ariel Evans from Glacier Digital Media to learn how you can leap ahead of your competitors by understanding and using digital marketing. This seminar is sponsored by the Times Colonist and is FREE to […]

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Fast-Tracking Energy Efficiency Raises Costs, Risks

Central Saanich, Oak Bay, Saanich and Victoria councils are fast-tracking energy efficiency in new homes via the BC govt’s Step Code without fully appreciating the costs and risks to residents. On the other hand, Langford is wisely disregarding the Step Code and is waiting for the National Building Code Committee’s proper diligence on more energy […]

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High Demand, Low Supply Boosts Housing Prices

VRBA’s Crystal Ball Housing Forecast was presented recently by: Kyle Kerr, President, Victoria Real Estate Board Cameron Muir, Chief Economist, BC Real Estate Association Steven Hurst, Vice President, Analytics, Yellow Sheet  Construction Data Braden Batch, Senior Market Analyst, Canada Mortgage and Housing The good news is BC’s economy is strong and Victoria’s unemployment rate is […]

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Greater Victoria Housing Starts Highest Since 1976

CMHC reports housing starts in Greater Victoria totaled 3,862 in 2017. This is the highest number since 1976 at 4,439. The last time the region posted numbers close to this was in 1975 with a total of 3,980. The reason for the strong starts is mostly multi-family construction of 2,966 compared with 2,933 last year. Single […]

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Einstein Needed to Solve Housing Affordability

Trudeau’s national housing strategy did not recognize the important difference between affordable housing and housing affordability. As Sean Speer, Macdonald–Laurier Institute says, “The former is about subsidized housing which is roughly 6% of the market. The latter refers to the affordability of market-based housing which covers the rest. While “both are important” Trudeau’s strategy was […]

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Housing Starts Soaring Toward 40 Year Old Record

CMHC reports housing starts in Greater Victoria approaching numbers not seen since the 1970’s. As of November, there are 3,700 new homes so far in 2017 compared with 2,933 for all of last year. This year’s starts year-to-date break through the 3,247 set in 1989. The highest recorded number available to VRBA is 4,439 in […]

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2018 Crystal Ball Housing Forecast – January 18

Are you ready for 2018? Hear from experts at VRBA’s Crystal Ball Housing Forecast, Thursday, January 18, from 6 pm to 9:30 pm (includes dinner) at the Royal Colwood Golf Club. Speakers include: Kyle Kerr, 2018 President, Victoria Real Estate Board Cameron Muir, Chief Economist, BC Real Estate Association Steven Hurst, Vice President, Analytics, Yellow […]

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