Housing

A new home is shown for sale in a housing development in Ottawa on Tuesday, July 14, 2020. THE CANADIAN PRESS/Sean Kilpatrick

Average home price to end the year 4.8% lower than 2022, will rise 4.7% in 2024: CREA

Forecast also sees the number of homes sold to be down slightly this year compared to last

A new home is shown for sale in a housing development in Ottawa on Tuesday, July 14, 2020. THE CANADIAN PRESS/Sean Kilpatrick
Premier David Eby’s Homes for People plan announced Monday is getting a range of reactions, with some calling it ambitious while others say it lacks details and is deceptive. (Wolf Depner/News Staff)

B.C. government’s new housing plan ‘ambitious’ but critics call for clarity

Plan promises to no leave ‘no stone unturned’ in creating more housing

Premier David Eby’s Homes for People plan announced Monday is getting a range of reactions, with some calling it ambitious while others say it lacks details and is deceptive. (Wolf Depner/News Staff)
A Victoria tenant will be compensated more than $30,000 due to a prolonged building renovation that included a “loss of quiet enjoyment” due to noise from a jackhammer and exposure to asbestos. (Pexels photo illustration)

Asbestos exposure and ‘horrendous’ jackhammer noise mean $30K award for B.C. tenant

Building’s owner challenged Residential Tenancy Branch decision in court and lost

A Victoria tenant will be compensated more than $30,000 due to a prolonged building renovation that included a “loss of quiet enjoyment” due to noise from a jackhammer and exposure to asbestos. (Pexels photo illustration)
Houses and townhouses are seen in an aerial view in Langley, B.C. A new plan announced Monday promises to create more density in areas currently zoned single-residential. THE CANADIAN PRESS/Darryl Dyck

B.C. unveils new ‘Homes for People’ plan with goal of 108K new houses, apartment units

Homes for People plan calls for more density, legalization of secondary suites and flipping tax

Houses and townhouses are seen in an aerial view in Langley, B.C. A new plan announced Monday promises to create more density in areas currently zoned single-residential. THE CANADIAN PRESS/Darryl Dyck
A GoFundMe campaign has been launched to support Doreen Koch, 92, of Lumby, who has spent over $100,000 in legal fees fighting for the right to own her property after her son signed a contract to sell the property before dying of liver failure in 2020. (GoFundMe photo)

B.C. senior in legal battle over property

A GoFundMe campaign has been launched for Doreen Koch, 92, to help her pay her lawyer bills

A GoFundMe campaign has been launched to support Doreen Koch, 92, of Lumby, who has spent over $100,000 in legal fees fighting for the right to own her property after her son signed a contract to sell the property before dying of liver failure in 2020. (GoFundMe photo)
Deputy Prime Minister and Minister of Finance Chrystia Freeland and B.C. Premier David Eby arrive for a news conference after touring Powertech Labs, in Surrey, B.C., on Thursday, March 30, 2023. THE CANADIAN PRESS/Darryl Dyck

Freeland says budget lacked housing measures because 2022 funds still being spent

Last year’s budget allocated funds for $4 billion housing accelerator program that haven’t been spent

Deputy Prime Minister and Minister of Finance Chrystia Freeland and B.C. Premier David Eby arrive for a news conference after touring Powertech Labs, in Surrey, B.C., on Thursday, March 30, 2023. THE CANADIAN PRESS/Darryl Dyck
A sold sign sits in front of a house in Toronto on Tuesday July 12, 2022. Real estate observers say a new mortgage code of conduct promised in the federal budget will be handy for Canadians having financial difficulties, but they still feel the economic plan was lacking affordability measures.THE CANADIAN PRESS/Cole Burston

Mortgage moves ‘good news’ for borrowers, but budget lacks housing support: experts

Code aimed at people with variable rate mortgages facing financial burdens tied to current rates

A sold sign sits in front of a house in Toronto on Tuesday July 12, 2022. Real estate observers say a new mortgage code of conduct promised in the federal budget will be handy for Canadians having financial difficulties, but they still feel the economic plan was lacking affordability measures.THE CANADIAN PRESS/Cole Burston
B.C.’s Ministry of Housing has received the forensic audit of BC Housing ordered by Premier David Eby, then minister responsible for housing, but it is not clear when the public will see the report. (THE CANADIAN PRESS/Darryl Dyck)

Premier David Eby promises BC Housing forensic audit release ‘as soon as possible’

BC Liberals accuse NDP government of ‘pattern of evasiveness’ around BC Housing

B.C.’s Ministry of Housing has received the forensic audit of BC Housing ordered by Premier David Eby, then minister responsible for housing, but it is not clear when the public will see the report. (THE CANADIAN PRESS/Darryl Dyck)
B.C.’s Ministry of Housing has received the forensic audit of BC Housing ordered by Premier David Eby, then minister responsible for housing, but it is not clear when the public will see the report. (THE CANADIAN PRESS/Darryl Dyck)

BC Liberals call on government to immediately release forensic audit of BC Housing

Ministry of Housing has received the full report, but did not give a release date

B.C.’s Ministry of Housing has received the forensic audit of BC Housing ordered by Premier David Eby, then minister responsible for housing, but it is not clear when the public will see the report. (THE CANADIAN PRESS/Darryl Dyck)
Oak Bay in Greater Victoria became the latest community to legalize secondary suites and a provincial pilot project plans to create more through incentives for home-owners to build them for long-term renters. (Black Press Media file photo)

As B.C. eyes housing solutions, UBCM prez says secondary suites ‘critical’ for rental supply

UBCM President Jen Ford says secondary suites are an important part of housing continuum

Oak Bay in Greater Victoria became the latest community to legalize secondary suites and a provincial pilot project plans to create more through incentives for home-owners to build them for long-term renters. (Black Press Media file photo)
Members of the Canadian Armed Forces march in Calgary on July 8, 2016. The Canadian Armed Forces is rolling out a new housing benefit to help troops posted to expensive communities.THE CANADIAN PRESS/Jeff McIntosh

Military expecting to save $30M per year with targeted housing benefit for troops

New housing benefit will be tied to salary to help those who need it most

Members of the Canadian Armed Forces march in Calgary on July 8, 2016. The Canadian Armed Forces is rolling out a new housing benefit to help troops posted to expensive communities.THE CANADIAN PRESS/Jeff McIntosh
In New Brunswick, the high interest rates made 29-year-old Lauren Fitzgerald, shown in a handout photo, dramatically alter her home-buying plans. THE CANADIAN PRESS/HO-Lauren Fitzgerald

‘How are you going to compete?’: Canadians grapple with tight housing market

People entering the housing market share stories from across the country

In New Brunswick, the high interest rates made 29-year-old Lauren Fitzgerald, shown in a handout photo, dramatically alter her home-buying plans. THE CANADIAN PRESS/HO-Lauren Fitzgerald
Vancouver is the least affordable city according to a new report from Royal Bank of Canada. THE CANADIAN PRESS/Darryl Dyck Vancouver is the least affordable city according to a new report from Royal Bank of Canada. THE CANADIAN PRESS/Darryl Dyck

$7 out of every $10 earned goes towards mortgage payments in Victoria: report

B.C. Liberals pounced on the report, while NDP said help is underway

Vancouver is the least affordable city according to a new report from Royal Bank of Canada. THE CANADIAN PRESS/Darryl Dyck Vancouver is the least affordable city according to a new report from Royal Bank of Canada. THE CANADIAN PRESS/Darryl Dyck
Houses are covered with snow as the downtown skyline is seen in the distance, in Vancouver, on Wednesday, December 21, 2022. The British Columbia Real Estate Association says the chill across the province’s real estate sector will drag on through 2023, but it calls for a strong rebound next year. THE CANADIAN PRESS/Darryl Dyck

Gloomy economic outlook, elevated mortgages drag down 2023 B.C. housing market: BCREA

Conditions are expected to rebound in 2024

Houses are covered with snow as the downtown skyline is seen in the distance, in Vancouver, on Wednesday, December 21, 2022. The British Columbia Real Estate Association says the chill across the province’s real estate sector will drag on through 2023, but it calls for a strong rebound next year. THE CANADIAN PRESS/Darryl Dyck
Mayor Lisa Helps speaks during a vigil in Victoria on January 31, 2017. Helps says she’s disappointed in the poor judgment exercised by a member of council who travelled outside of Canada during the COVID-19 pandemic. THE CANADIAN PRESS/Chad Hipolito

Appointment of former Victoria mayor as housing adviser draws wide range of reactions

Lisa Helps will help develop housing for middle income families

Mayor Lisa Helps speaks during a vigil in Victoria on January 31, 2017. Helps says she’s disappointed in the poor judgment exercised by a member of council who travelled outside of Canada during the COVID-19 pandemic. THE CANADIAN PRESS/Chad Hipolito
Victoria Fire Chief Paul Bruce and Mayor Lisa Helps tour the fire hall site. (Courtesy of City of Victoria)

Former Victoria mayor tapped to advise the premier on housing solutions

Lisa Helps appointed Premier David Eby’s housing solutions adviser

Victoria Fire Chief Paul Bruce and Mayor Lisa Helps tour the fire hall site. (Courtesy of City of Victoria)
Shelter costs in Kelowna only differ by $78/month between renters and owners. (@khzny/Twitter)

Under $80 difference between rent, mortgage prices in Kelowna the smallest in Canadian major cities

Shelter costs are just $78/month more as a homeowner

Shelter costs in Kelowna only differ by $78/month between renters and owners. (@khzny/Twitter)
Toni Russell holds up a copy of Bill 44, which removed the ability for stratas to ban rentals or use 19+ age restrictions. Now the strata at Cherry Lane Towers where she lives is trying to turn the condo complex into a 55+ community. (Brennan Phillips - Western News)

Okanagan senior fighting to keep condo strata from becoming 55+ only

Toni Russell is concerned about the impact to her financial future

Toni Russell holds up a copy of Bill 44, which removed the ability for stratas to ban rentals or use 19+ age restrictions. Now the strata at Cherry Lane Towers where she lives is trying to turn the condo complex into a 55+ community. (Brennan Phillips - Western News)
The Office of the Superintendent of Financial Institutions is considering strengthening Canada’s mortgage stress test. (The Canadian Press)

Banking regulator launches consultations on mortgage rules, proposes additions

Possible changes to existing stress test would aim to reduce overstretched borrowers

The Office of the Superintendent of Financial Institutions is considering strengthening Canada’s mortgage stress test. (The Canadian Press)
FILE - B.C. announced a $500 million Rental Protection Fund on Jan. 12. (AP Photo/Matt Rourke, File)

Eby following through on $500M promise to put more rentals in hands of B.C. non-profits

Funds aim to take control away from speculators looking to bump up prices or evict tenants

FILE - B.C. announced a $500 million Rental Protection Fund on Jan. 12. (AP Photo/Matt Rourke, File)