Province moves to help municipalities increase housing stock
The Canada Mortgage and Housing Corp. says the vulnerability of Greater Victoria’s housing market remains moderate in the second quarter of 2021. Limited inventory and the related low level of homes being listed have contributed to a sellers’ market.
Even a marked increase in new homes this year has not been able to keep pace with the demand from buyers. There have been 3,488 new homes built so far this year, compared to a total of 3,209 in 2020 and 3,499 in 2019.
Even a marked increase in new homes this year has not been able to keep pace with the demand from buyers. There have been 3,488 new homes built so far this year, compared to a total of 3,209 in 2020 and 3,499 in 2019.
On Tuesday, the provincial government moved to make it easier for developments to get approval from municipalities. The aim is to increase housing supply in the province. Amendments to the Local Government Act will:
- remove the default requirement for local governments to hold public hearings for zoning bylaw amendments that are consistent with the official community plan; and
enable local governments to delegate decisions on minor development variance permits to staff.
