Greater Victoria’s year-to-date housing starts are down 16% according to CMHC. From January to October, housing starts were 3,359 vs 3,885 during the same period in 2023.
The decline in British Columbia is 11% at 33,463 new homes this year vs 37,662 last year.
This is despite provincially established housing targets. The reality is City of Victoria housing starts have declined 52% from 838 last year to 402 this year. In October this year there were 2 new units vs 289 last year.
Many other municipalities are also declining: Oak Bay 29%; Sidney 54%; North Saanich 59%; View Royal 84%; Esquimalt 65%, Central Saanich at 79%.
BC govt and municipal officials claim housing is improving despite evidence to the contrary. Obstruction and high costs continue.
Fifty-three per cent of all new housing in the CRD is in two West Shore municipalities – Langford at 1,265 up 33%; and Colwood – 515, an increase of 258%.
The BC govt’s housing targets appear to be having no impact in most municipalities.
Some municipalities including Victoria and Oak Bay are ratcheting up regulations and fees to obstruct the province’s legislation which is supposed to enable up to 6 units on single family lots. However, the province created loopholes that are undermining new home development.
For example, Victoria increased development charges 258% and Oak Bay recently approved a bylaw increasing the site setbacks and reducing the building height of missing middle housing vs the recommendations in the province’s site standards manual. This manual should be mandatory, not optional.
In addition, the method for counting for “housing targets” should change to CMHC housing starts in the interests of transparency.