Livable Victoria - July 21, 2022

New advocacy group pushes for bold housing and climate leadership in upcoming election.

GREATER VICTORIA, B.C.: Today marks the official launch of Livable Victoria – a diverse group of professionals and community members who have come together to advocate for positive change and encourage bold leadership during this year’s municipal election. The non-partisan group aims to build support for “5 Big Ideas” to make Greater Victoria a more sustainable, vibrant, healthy, and equitable place to live. A truly livable city, for everyone.

“Public dialogue on topics like housing affordability, climate change, and public safety is often polarized,” explains Dr Trevor Hancock, Livable Victoria member, healthy communities expert, and Founder of One Planet Conversations, “we want to bring people together to outline bold and balanced solutions to help inform community conversations leading up to this October’s municipal elections.”

Livable Victoria is advocating for the following “5 Big Ideas” across Greater Victoria:
1. Scale-up and facilitate the rapid development of non-market housing across the region
2. Build an abundance of housing and implement policies to promote affordability
3. Plan neighbourhoods for sustainability and human well-being
4. Invest in cycling, transit, and pedestrian infrastructure
5. Minimize building waste, energy consumption and greenhouse gas emissions

“The team was identified and created through an iterative, collaborative process that focused on individuals with diverse perspectives, varied experiences, and shared priorities,” says Kaeley Wiseman, Livable Victoria member and local affordable housing planner, “we’ve done the work to think through these complex issues and challenge each other’s thinking to bring forward bold but practical solutions.”

Each “Big Idea” is broken down in greater detail at LivableVictoria.ca. As local elections approach, Livable Victoria will host events, provide resources, and bring forward tangible and practical solutions for building more livable communities. Community members are encouraged to review the “5 Big Ideas” and join the conversation.

We respectfully acknowledge that the land and water of the Greater Victoria region is located within the traditional homelands of the Songhees, Esquimalt, Tsartlip, Tsawout, Pauquachin, Tseycum, Malahat, Sc’ianew, T’Sou-ke, and Pacheedaht First Nations.

CMHC Housing Market Outlook - April 21, 2022

CMHC’s Housing Market Outlook provides forward-looking analysis into Canada’s housing markets. This helps anticipate emerging trends in Canada’s new home, resale and rental housing segments and their potential impacts on affordability and other housing challenges at the national and local level.

Key highlights from the 2022 release

  • We expect the growth in prices, sales levels, and housing starts to moderate from recent highs but remain elevated in 2022. Robust GDP growth, higher employment and net migration will support demand.
  • In 2023 and 2024, the growth in prices will moderate with sales and starts activity remaining above long-run averages. Home ownership affordability will decline with rising mortgage rates and with the growth in prices expected to outpace income growth. Rental affordability is also set to decline from increasing rental demand and low stocks of rental housing.
  • The growth in prices will likely continue to be led by markets with already low listings, including Toronto, Vancouver, Montreal and Ottawa.
  • Supply constraints on construction will continue to impact major centres and especially Vancouver and Toronto, highlighting the central role of housing supply in determining affordability.
  • The Prairie provinces, led by Alberta, will likely see relatively strong sales and starts levels and be stimulated by energy sector investments and higher energy and commodities prices. The growth in prices is predicted to remain below the national average reflecting more balanced supply conditions than in other regions.
  • Ontario, Quebec, and British Columbia will likely see the strongest price gains in 2022. This will largely reflect tighter supply constraints than in the rest of Canada. The growth in prices in these provinces is expected to slow by the end of 2024.
  • The Atlantic region will likely see continued upward pressure on housing activity and growth in prices from high inter-provincial migration. The level of home prices will remain relatively low in comparison to the overall Canadian average.