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Provincial Update
July 16, 2020
 
 
2020-21 Economic Fiscal Update
Government of BC
Minister of Finance Carole James delivered an economic update on July 14, 2020. This presentation covers the highlights of the announcement and the COVID-19 financial impacts.
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Georgie's Corner
Congratulations again to all of the winners of the Georgie Awards 2020 - we'd like to take this opportunity to highlight some of the news articles sharing in this momentous occasion:



• Grenor Homes, Royale Properties, Sarah Gallop Design Inc., Sandhill Development, Isle of Mann Property Group (HAVAN)

• Zenterra (HAVAN)

• Sarah Gallop Design Inc (HAVAN)

• CHBA CI

• Lacey Construction (CHBA FV)

• SookePoint (CHBA VI)

• Bellamy Homes, Pars Custom Homes (CHBA CO)
 
 
 
 
Updates of the Week:
 
Financial Management
Aug 22, 2020
via webinar + online exam
Deadline: July 26, 2020

Construction Law
Sept 11, 2020
Abbotsford (in-class session)
Deadline: July 31, 2020

Business Planning & Management
Sept 16, 2020
via webinar + online exam
Deadline: Aug 19, 2020
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Rethinking “Open Houses” During the Pandemic
BCREA
BC’s Restart Plan takes a phased approach to reopen our province’s economy. It allows business activities to gradually resume when the time is right, with protocols and guidance to do so safely.

When it comes to real estate showings and open houses, in particular, that means doing things differently than you have in the past.

BCREA has outlined their 10 best practices outlined that you can do to help ensure that you’ve assessed, prepared for, and prevented potential health risks to yourself, your clients, and consumers.

Find these practices here.
 
 
Sneak Peek Results: National Industry Status and Sentiment Survey
CHBA
The recent CHBA Industry Status and Sentiments Survey collected important information about CHBA members’ engagements with federal response programs related to COVID-19. More details will be available soon, but here are some highlights:

• The COVID-19 pandemic has had a major impact on our sector with about 53% of members saying their business is already feeling the effects of the pandemic and 27% of members expecting business to somewhat worsen over the next six months. However, things are starting to look up because about 32% of members expect business to somewhat improve over the next six months.

• About 60% of members feel the federal government has provided the necessary support during the pandemic, with the most popular programs being accessed by members being the Canada Emergency Business Account (52%) and the Canada Emergency Wage Subsidy (48%).

• CHBA advocacy had been crucial in improving the programs provided by the government and resulted in an increase in eligibility for members for the CEWS due to its efforts in allowing cash or accrual method and allowing a new reference period for revenues.
 
 
CHBA Provides Gov’t with Economic Recovery Plan
CHBA
As Canada looks for a strong rebound from the pandemic, CHBA has shared its economic recovery plan, Getting Building: An Action Plan For Economic Recovery In Residential Construction, with the federal government, calling for empowerment the residential construction sector to get building through support to homebuyers and homeowners.

Residential construction is a major contributor to Canada’s economy, and while our industry remained an essential service across most jurisdictions during the pandemic, the sector has seen lower starts, cancelled renovation projects and significant delays, which will make Canada’s pre-existing housing shortage worse. Ramping up will be essential to rebuilding the Canadian economy.

CHBA’s plan outlines the important role that housing plays in the health and well-being of Canadians, and reiterates the importance of sufficient housing supply. The plan, viewable here, consists of eight recommendations that will support the sector and give Canadians access to safe and secure homes that meets their budget and their needs, while also supporting overall economic stability and growth.
 
 
Provincial Update
 
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Canadian Home Builders' Association of British Columbia
400-6400 Roberts Street, Burnaby, BC V5G 4C9 | 604.432.7112 | Contact Us | www.chbabc.org

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