There has much discussion on housing affordability and Victoria City Council attempted to persuade the province to implement a foreign buyers tax to ease upward pressure on prices.
The goal is laudable and it did have an impact in Greater Vancouver however, prices are still unreasonable and now climbing in that market and I would suggest across the majority of the jurisdictions on the Island, particularly the southern area.
Why not look to some other innovative solutions and measures to help with holding the line on prices - increase the supply?
A request or directive from local councils to staff in planning departments to canvass constituents with access land to offer a parcel for subdivision may be welcomed - an opportunity to bypass the red tape and fees to approval for rezoning.
There are properties ready for subdivision or development and local governments should be sourcing them to help increase the supply.
Jill Oudil, president Real Estate Board of Greater Vancouver recently stated, “Home prices will likely continue to increase until we see more housing supply coming on to the market.”
Time for another way of thinking when it comes to housing supply and development – be proactive and part of the solution.
Rishi Sharma
Saanich