For example, despite rising housing demand, home starts in Saanich have been in decline for a number of years:
2017 – 625 new homes
2018 – 539 new homes
2019 – 203 new homes
2020 – 200 new homes
In addition, their expenses are increasing despite an overall decline in housing starts of -68%. There should be a decline in expenses.
Inspection fees should be based on the cost of providing the inspection service, not the rising cost of lumber due to supply shortages from mill closures.
Many municipalities use the same formula, adding significantly to the cost of housing.
The BC government recently announced $2 billion revenue from their Property Transfer Tax charged up to three times in the development of a single property.
Three levels of government treat housing as a cash machine, so it’s no wonder the housing prices are sky high.
Federal, provincial and municipal govts tell builders where and what to build (zoning); when to build (permit approvals); how to build (building code); and how much revenue they require from the project (GST, PTT, DCC’s, permit fees, amenity contributions). The lack of housing affordability rests squarely with government.