Taking Action On Housing Affordability
Right now, British Columbia is the envy of all the other provinces. With Canada’s strongest economy, low taxes, a beautiful environment, and high quality of life, people are coming here to live, work, and raise a family – and we don’t blame them.
As B.C.’s economy diversifies and gets stronger, this growth is a good thing. But as the demand for housing here in British Columbia rises, we need to ensure that our supply is keeping up – particularly in the Lower Mainland, where families are feeling the impact of rising prices and a heated housing market.
Fortunately, the work our government is doing to address housing affordability is already well underway. In Budget 2016, our government made record investments in affordable housing, took measures to help first time home buyers, introduced a luxury tax on homes over $2 million, moved to end the practice of shadow flipping, and announced plans to work with municipalities to increase supply and reduce hidden housing costs.
But there’s still more that we need to be doing – and as Premier Christy Clark promised, in the coming weeks, our government will take decisive action to ensure that the dream of owning a home remains within the reach of everyday British Columbians. That plan focuses on increasing both rental and market supply, investing in smart transit expansion, further supporting first-time homebuyers, and protecting consumers, which Premier Christy Clark underscored the importance of when she took decisive action to end self-regulation for realtors. Stay up-to-date with that plan by signing up below for updates:
As Premier Christy Clark said, British Columbians should be able to afford to live in British Columbia. And we have to continue to make sure that if you work hard, the dream of owning your own home remains within reach.
This is a tough challenge – one that is confronting governments around the world – and there’s no easy solution. But it’s a challenge that we can and will tackle together with other levels of government to ensure that our communities stay livable and strong.