On May 10 and 11, many BC REALTORS® took part in the BC Real Estate Association’s 2022 Government Liaison Days (GL Days), an event where Realtors from across BC convene to discuss government liaison issues and meet with their local MLAs. First held in 1988, GL Days connects Realtors from across the province, giving them …
Vancouver, BC – The British Columbia Real Estate Association (BCREA) has released a new Market Intelligence report estimating the potential impacts of increased housing supply on BC’s housing market. The report, Bigger, Faster…More Affordable? Evaluating the Impact of Supply-Side Policies on the BC Housing Market, finds that policies designed to streamline the development cycle are …
UPDATE – April 12, 2022: This post was updated to correct a figure related to the Multigenerational Home Renovation Tax Credit. The tax credit is up to $7,500, not $50,000 as previously stated. Budget 2022 was introduced on April 7 with a significant focus on the supply and affordability of housing in Canada. BCREA was encouraged …
BCREA’s white paper A Better Way Home: Strengthening Consumer Protection in Real Estate Transactions has attracted significant media attention nationwide. BCREA launched the white paper at a press conference in downtown Vancouver on Monday, February 28 with all of BC’s major news outlets in attendance, including Global, CBC, and CTV. More than 500 viewers, including …
The British Columbia Real Estate Association (BCREA), with support from the province’s real estate boards, has published a white paper and series of sweeping recommendations for the BC Government aimed at addressing current concerns with the province’s housing market, the real estate transaction process and consumer protection. The white paper, called A Better Way Home: …
On February 28, BCREA released a comprehensive white paper titled A Better Way Home: Strengthening Consumer Protection in Real Estate, which includes a set of recommendations for the BC Government on better-protecting consumers in real estate transactions and addressing the root causes of BC’s lack of housing affordability. The white paper was developed in response …
BC’s 2022 budget is very much a recovery budget. There are significant investments in continued recovery from this past year’s extreme wildfire and flooding events, as well as the COVID-19 pandemic. The budget acknowledged that BC’s “record-low supply and strong demand for homes” led to large price gains in 2021, across all major regions and …
Vancouver, BC – January 18, 2022. The number of home sales in British Columbia is expected to fall and home price growth will moderate because of rising interest rates according to a new report from the British Real Estate Association (BCREA) examining the potential impacts of the Bank of Canada’s rate tightening widely expected this …
This year was full of significant changes for the real estate sector in BC. REALTORS® continued to navigate the challenges of the COVID-19 pandemic and many assisted communities hit by historic rainfalls in a number of ways, including fundraising to support the Red Cross. 2021 was also filled with significant government interventions impacting the sector. …
With demand significantly outweighing supply in many regions across BC, the cost of housing has risen dramatically during the COVID-19 pandemic. The British Columbia Real Estate Association (BCREA) has maintained that increasing market housing supply is a key to making homeownership more affordable for British Columbians, which is why the provincial government’s recent announcement introducing proposed …
Vancouver, BC – October 7, 2021. The British Columbia Real Estate Association (BCREA) has published a report quantifying the imbalance between supply and demand in the BC housing market during the COVID-19 pandemic. BCREA’s recent Market Intelligence report, Way Out of Balance: Housing Supply and Demand During the Pandemic, estimates at the peak of market …
With another minority government headed to Ottawa after this month’s federal election, collaboration between parties will be key to a functional Canadian government. This is especially true when it comes to making homeownership more achievable in Canada according to the British Columbia Real Estate Association (BCREA). The Liberals, Conservatives and NDP all made increasing supply …
When parliament next meets it will look very similar to what it looked like prior to the election, although there may be big changes coming to the real estate sector based on the Liberal Party’s campaign platform. This blog post provides a look at the Liberal party’s policy platforms that, if implemented, could impact BC’s …
Increasing and diversifying housing supply is part of a necessary, meaningful, and long-lasting solution to make housing more affordable in British Columbia. The British Columbia Real Estate Association is encouraged by the final report from the Expert Panel on Housing Supply and Affordability and its specific recommendations around housing supply. “There is no question that, …
On May 4 and 5, over 80 attendees from all around BC participated in BCREA’s Government Liaison Days. At this virtual conference, attendees learned about how the government can improve housing supply as well as energy efficiency in homes. REALTORS® then met with their MLAs to discuss the impact in their communities. Energy efficiency Realtors …
BCREA would like to thank all the REALTORS® who participated in this year’s annual Government Liaison (GL) Days live sessions on May 4 and 5. Realtors from across the province convened virtually to learn about policies to address the two issues of improving housing supply and energy efficiency in homes. In addition to discussion around …
Government Liaison (GL) Days is an annual event where REALTORS® meet with MLAs across BC, speaking with a united voice to advocate for key housing-related issues and improving Quality of Life in BC communities. This event has a long history, first taking place in Victoria in 1988. Due to COVID-19, participants won’t be able to …
For Immediate Release Vancouver, BC – April 19, 2021. The British Columbia Real Estate Association (BCREA) welcomes the province’s recent announcement that $2 billion in development financing will be committed to the HousingHub program to help create affordable housing choices for middle-income families. “With home prices having risen over the last decade and that trend continuing, …
On Friday, April 9th, the Real Estate Council of BC (RECBC) and the Office of the Superintendent of Real Estate (OSRE) released a press statement encouraging British Columbians to be aware of the potential risks and do their research before making an offer on a home. In the release, RECBC’s Chief Executive Officer Erin Seeley …
To view the Market Intelligence Report PDF, click here. Summary Findings: Growth in home prices is a function of many factors and those factors do not always impact prices to the same degree Shocks to housing demand and interest rates are the largest contributors to fluctuations in home prices, but provincial and municipal governments have …
As Canadians recognize the important work done by housing partners on National Housing Day (November 22), BCREA acknowledges that there is still much work to do to ensure affordable, appropriate housing. In spite of the BC housing market’s record pace in October, supply continues to be limited. Lack of adequate supply causes affordability issues, especially …
As all parties focus on COVID-19 economic recovery in the lead-up to October’s provincial election, BCREA is advocating for market housing affordability to be a key part of the next government’s post-election plans. For BC’s REALTORS®, meeting with candidates is a great opportunity to ask questions and suggest that the next government focuses on these …
The British Columbia Real Estate Association acknowledges that our head office is located on the unceded traditional territories of the Coast Salish Nations of Sḵwx̱wú7mesh (Squamish), səl̓ilwətaɁɬ (Tsleil-Waututh), and xwməθkwəy̓əm (Musqueam). We also acknowledge the other 195 First Nations in British Columbia, as these are the lands we each call home.
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