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David Eby to be Named Premier and Leader of the NDP
Vancouver Sun
On Wednesday, the B.C. NDP executive followed the advice of their chief electoral officer and voted to disqualify Anjali Appadurai, the only other candidate, from the race for party leader and role as Premier. Appadurai was disqualified over allegations of improper co-ordination with third-party environmental groups and fraudulent memberships.
This clears the path for MLA David Eby to be acclaimed as NDP leader and become the 37th Premier of BC. Before announcing his intention to lead the party, Eby served as the attorney general and minister responsible for housing.
CHBA BC has heavily engaged Eby in discussions on how to advance more housing supply. We look forward to working with him to implement change to improve approval timelines and move forward the discussion regarding a provincial reporting system requiring municipalities produce an annual standardized report on development applications.
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The Countdown is on for 2023 Georgie Awards Submissions
CHBA BC
There are less than two weeks left to submit your projects for a 2023 Georgie Award. The Call for Entries will close on Tuesday, November 1 at 8:00 pm.
In case you need a little extra convincing, we've rounded up a list of reasons you should complete your Georgie Awards submission.
Here's what you can look forward to as a Georgie Award winner:
- Updating your social bios "Award Winning Builder"
- Telling your clients you're one of the best in the industry
- Gain Trust with Clients
- Exposure via CHBA BC Social Media and so much more
Don’t delay, visit the Georgie Awards online entry platform, and get started on your submission.
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CHBA BC's Municipal Benchmarking Report Housing Shows How Supply Limiting B.C.'s Population Growth
Business in Vancouver
 A recent report from the Union of BC Municipalities’ (UBCM) makes the claim the number of new homes in B.C. is in close alignment with the province’s population growth. The conclusion puts it in stark contrast with the evidence presented in CHBA BC’s Municipal Benchmarking Report that clearly shows there is a disconnect between demand and the housing supply that governments are approving or planning for.
UBCM’s report, Building BC: Housing Completions & Population Growth 2016-2021, says housing supply has kept pace with population growth, but the CHBA BC study demonstrated evidence of a shortfall.
It showed if there was enough housing to meet demand, nearly 87,000 more households would have been created in B.C. between 2011 and 2021. For all municipalities studied, household growth fell short by 3,433 households per year within that 10-year window, because of a lack of available housing.
University of British Columbia (UBC) sociology professor Nathanael Lauster, agreed with the conclusion of the CHBA BC report as he explained to Business in Vancouver, “Effectively, housing caps population growth for B.C., so at this point, we’re not building enough to allow more people to live here.”
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CHBA Holds Fall Committee and Council Meetings
CHBA
 This week, volunteer members on the national Committees and Councils are meeting in person in Ottawa to continue the important work supporting the membership on a vast array of issues.
From government relations to exploring innovative technologies and construction techniques for both renovation and new homes, to addressing building code changes, to working to improve development processes, to addressing the housing supply deficit, and more. The week provides the opportunity for cross-country dialogue to advance CHBA business on the biggest challenges facing the industry and Canadians around new construction, development, and renovation.
Key topics covered at the Fall Meetings include collaboration and innovation on how to boost housing supply as it continues to fall short of demand, while navigating rising interest rates and surging development costs, labour shortages and record-high product and material pricing.
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CMHC's New Report Shows Impact of Construction Costs and Materials Shortages
CMHC
 CMHC’s newest Housing Supply Report released this week provides insights into new housing supply in Canada’s major cities and urban areas. It provides an analysis of new housing construction trends for Canada's six largest census metropolitan areas: Vancouver, Calgary, Edmonton, Toronto, Ottawa, and Montreal.
With respect to Vancouver, the report shows housing starts declined 23% in the first half of 2022 and was most pronounced in condo apartment. Alternatively, semi-detached construction nearly doubled during this same period. Construction delays and cost increases weighed on both new and existing projects. The emerging rebound in the supply of construction labour in Metro Vancouver due to increased migration will provide some relief in the coming quarters.
The report shows increases in construction costs and materials shortages were felt across all markets, impacting construction times and affordability. CMHC says the effects of rising interest rates and construction costs could continue to impact housing starts in the coming months.
Read the full report here.
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BC Government Expands Access to the Small Business Tax Rate
Government of BC
The provincial government has made changes to the B.C. small business tax rate to allow growing businesses to scale up by remaining eligible for the tax rate for longer. The changes mean the tax rate will not phase out until the $50-million taxable capital threshold ceiling.
Previously, access to the small business tax rate was gradually reduced when the taxable capital of businesses was more than $10 million. Access to the small business tax rate ended when businesses had $15 million or more of taxable capital. With the change, access to the small business tax rate will be gradually reduced when businesses have between $10 million and $50 million in taxable capital.
The new, higher taxable capital ceiling will apply to taxation years that begin on or after April 7, 2022, which aligns with the federal approach, once passed.
More details are available here.
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B.C. Changes Employment Standards to Address Safety of Young Workers
Times-Colonist
 The Government of British Columbia is changing employment standards to better outline the types of work that are suitable for those aged 16 to 18.
Consultations on the draft rules were held with industry, labour, safety and skills training groups, and an online survey was available to the public. Overall, survey respondents agreed that 18 years old was an appropriate minimum age requirement for most types of hazardous work, with some exceptions. For construction work, and fish and some animal processing work, a minimum age of 16 was deemed appropriate.
There was also agreement that workplace safety and training must be prioritized at any worksite, and there needs to be rigorous enforcement of existing safety standards.
To ensure youth can still access important apprenticeship and training opportunities, the age restrictions will not apply to industry training programs overseen by SkilledTradesBC. The regulations come into effect on Jan. 1, 2023, so that employers have time to adjust the work performed by existing young employees. As well, current employees who are within six months of reaching the prescribed age will be excluded from the age requirements.
The BC Government’s news release is available here and the Victoria Times-Colonist provides more context here.
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The Road Ahead for the Economy and Housing — Fall 2022 update
 Throughout the first 10 months of 2022, world events and Canada’s economic and interest rate landscape has significantly impacted affordability according to CMHC’s Fall 2022 update.
Inflationary pressures have been stronger and more persistent than expected over the last six months according to CMHC and this has led to significantly sharper than predicted interest rate hikes in Canada and other economies. The national housing agency says interest rates are expected to rise further given the need to reduce inflation.
It also predicts Canadian economy will enter a modest recession by the end of 2022 and start recovering in the second half of 2023.
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New Homes With Supports Open For Indigenous Peoples in Prince George
Government of BC
Indigenous Elders and seniors experiencing or at risk of homelessness will soon begin moving into 35 new homes with supports as part of a new multi-phase rental housing development in Prince George.
“This is the latest stage of an important project for Indigenous families and individuals in Prince George,” said Murray Rankin, Attorney General and Minister Responsible for Housing.
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Housing Remains Low And Slow Throughout September in B.C., Across Canada
Alaska Highway News
The housing downturn throughout Canada persisted through September and, according to the Royal Bank of Canada (RBC), has a longer run ahead.
This was echoed by the British Columbia Real Estate Association (BCREA) in their most recent market report which shows that residential unit sales in September 2022 saw a decrease of 45.8 per cent from September 2021. Nationwide, this month marked the seventh-straight monthly decline in home resales.
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