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CARE Awards Finalists Showcase Outstanding Projects

CARE AWARDS FINALISTS SHOWCASE OUTSTANDING PROJECTS   (Media Release is Here)  VICTORIA – The Finalists for the 2018 Construction Achievements and Renovations of Excellence (CARE) Awards of Vancouver Island were announced today by the Victoria Residential Builders Association. They represent Canada’s leaders in sustainable West Coast design and construction showcasing the very best in new homes […]

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New Mortgage Rules, Rising Interest Rates Drive CMHC Overvaluation for Victoria

A clearer picture of Victoria’s housing market has emerged from CMHC’s new Housing Market Assessment. The report says: “In the first quarter of 2018, models that detected overvaluation included a calculation of the carrying cost, explicitly, which is a key determinant for affordability.” The  new mortgage stress test and rising interest rates are having a […]

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BC Govt Launches Housing/Energy Efficiency Consultation

The BC govt has launched a consultation on increasing the energy efficiency of buildings until August 24. The link is at https://engage.gov.bc.ca/cleangrowthfuture/ VRBA has strongly advocated for some of the initiatives such as financial incentives for retrofits and additional training. Clearly VRBA’s voice has had an impact by outlining the flaws of the Energy Step […]

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Saanich Development Costs Escalate

Saanich is proposing to raise Development Cost Charges (DCC’s) to some of the highest in Greater Victoria – $16,360 for a new single family home. DCC’s pay for infrastructure upgrades like sewer and water, roads as well as parks. Victoria’s DCC’s are $6,558, Central Saanich – $9,264, Colwood – $9,661. Langford’s DCC’s are $13,579 but […]

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Victoria Housing Starts 45% Ahead of 2017

CMHC reports: “Metro Victoria housing starts reached mid-year 45% ahead of 2017 levels, driven by substantially higher multi starts. Rental starts were double the rate seen in the first half of 2017 in response to low vacancy rates. Elsewhere, relatively more affordable housing types dominated construction. Condo construction was nearly 60% higher due to the […]

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Join VRBA At Annual Renewal

Thinking of joining a builders association? Now is the time, during membership renewal at the Victoria Residential Builders Association – the professional voice of the housing industry. Based on our principles of effective, efficient & affordable, we have re-invented the traditional industry association. VRBA provides: Renovation and new home projects sent directly to our builders; […]

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CARE Awards Standards Protect Public

VRBA members, Canada’s leaders in sustainable West Coast design and construction, will gather to celebrate the 2018 CARE Awards on September 29 at the Fairmont Empress Hotel. We are asked at times, why the popular CARE Awards event is open only to VRBA members and not to all in the residential construction industry. Three important […]

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VRBA Remarks at Oak Bay Town Hall Re: Speculation Tax

VRBA made the following remarks on the BC govt’s Speculation Tax at Oak Bay’s Town Hall, June 28, 2018. On the panel were Andrew Weaver, BC Green Party;  Kevin Murdoch, Oak Bay Councillor; Tara Ney, Oak Bay Councillor; Eric Zhelka, Oak Bay Councillor; Scott Piercy, Engel & Volkers. Also attending/speaking at the meeting were Mayor […]

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Politics, Social Policy Overshadow Safety, Affordability in Code

Building Code regulations are changing from a focus on safety & affordability to politics and social policy, boosting the cost of new housing. Design of stairs is again being reviewed, but not with the goal of reasonable safety. Govt is claiming that even a small number of injuries must be prevented due to the health […]

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Even Affordable Homes Require Jobs

Housing prices are linked to a province’s economy and specifically employment. BC has the lowest unemployment rate in Canada at 4.8%. BC also has the highest average home price at $739,000. . The lowest home prices are in the Atlantic provinces averaging from $178,000 in New Brunswick to $255,000 in Nova Scotia. Why are the […]

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