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Interview with VRBA in Canadian Contractor Magazine

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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Join VRBA at Annual Renewal

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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View Royal Affordable Housing Project Deserves DCC Waiver

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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Mortgage Test Adds Stress, Not Affordability

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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VRBA Opposes Saanich DCC and Building Bylaws Raising Costs

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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More Affordable, Safer Housing in the News

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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CMHC Report: Millennials Driving Growth, Little Change in Housing Inventory

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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Victoria Policy Adds Costs, Erodes Confidence

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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Report Reveals Unintended Consequences in BC Step Code: Higher Costs In Some Municipalties

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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Growing Population Needs Housing Supply

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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