Casey Edge, VRBA’s Executive Director was interviewed in Canadian Contractor magazine and had this to say about residential construction, BC Energy Step Code, housing affordability and other topics.
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On June 5, 2019
By: VRBA
Under Blog, Education & Training
Thinking of joining an industry association? Now is the time, during our annual membership renewal at the Victoria Residential Builders Association. Based on our principles of effective, efficient & affordable, we have re-invented the traditional association. VRBA provides: Renovation and new home projects sent directly to our builders; Free education seminars offering CPD credits required […]
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On May 29, 2019
By: VRBA
Under Blog, Housing data
View Royal Council is considering a DCC waiver for an affordable housing project creating 152 affordable, not-for-profit rentals, which is what the BC government has in mind when enabling local governments to provide DCC waivers. VRBA sent a letter outlining some of the reasons the DCC waiver is appropriate, including the developer’s donation of 12.5 […]
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On May 28, 2019
By: VRBA
Under Blog, Housing data
The federal government’s mortgage stress test appears to be doing more harm than good, especially for the younger generation. Central 1 Credit Union says “They’re (first-time buyers) still facing a down payment constraint due to the federal mortgage stress test so even though prices have come down they’re not necessarily in any better position to […]
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On May 27, 2019
By: VRBA
Under Blog, Building Code
On May 27, Saanich Council will consider and likely pass several items adding significant costs to housing. VRBA has sent the following letter to council opposing the new costly bylaws: May 24, 2019 Mayor Fred Haynes and Council District of Saanich 770 Vernon Ave, Victoria, BC V8X 2W7 Dear Mayor and Council Re: Development Cost […]
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On May 8, 2019
By: VRBA
Under Blog, Housing data
Interesting news stories about housing surfaced last week. First, CMHC’s latest study says Victoria house prices are moving closer to levels supported by market fundamentals such as population, personal disposable income and interest rates. They also report that young adults are a key driver of increasing household formation. We have said for some time that […]
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On May 2, 2019
By: VRBA
Under Blog, Housing data, Uncategorized
CMHC’s latest Housing Market Assessment reports, “While house prices in Vancouver, Victoria, Toronto and Hamilton continue to move closer to levels supported by housing market fundamentals such as population, personal disposable income and interest rates, we continue to see a high degree of vulnerability in their overall assessment.” For Victoria, they report, “The population of […]
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On April 16, 2019
By: VRBA
Under Blog
Victoria council is considering a policy where 30% of new strata units must meet the city’s affordability criteria. The Times Colonist reports, “It’s a number that far exceeds the 10% affordable in large projects recommended by staff and one that even the city’s own consultant said would see development in the city grind to a […]
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On April 8, 2019
By: VRBA
Under Blog, Building Code
At a National Building Code meeting last week, a presentation by Natural Resources Canada (NRCan) revealed the BC Step Code metrics and targets result in higher costs to build in some municipalities over others despite having similar climates. This has been covered in Canadian Contractor Magazine. The NRCan report says “Near the boundaries of climate […]
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On April 6, 2019
By: VRBA
Under Blog
To understand rising home prices, a review of economic and population growth is necessary. Significant leaps in home prices are often preceded by several years of stagnation. From 1995 to 2000, single detached home prices in Greater Victoria stagnated due to a poor economy and slow population growth. As economic conditions improved and population increased, […]
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