This week Minister Kahlon introduced Bill 44, part of the Homes for People Action Plan, proposing significant changes in housing legislation. The bill aims to allow up to six units on single-family lots, including secondary suites, accessory dwelling units (ADUs), and laneway homes. By June 30, 2024 municipalities with over 5,000 people are required to enact bylaws allowing 3-4 units on lots currently zoned for single-family/duplex use, depending on lot size, and up to 6 units on larger lots close to transit stops with frequent service. Additional density is allowed at the discretion of municipalities, but not below provincially-allowed units. Additionally, the proposed changes will also phase out one-off public hearings for rezonings for housing projects that are consistent and aligned with the OCPs.
Following up from the province's announcement, some Metro Vancouver mayors stated that the new policy could end up costing municipalities millions as pre-zoning properties for 3-6 units would mean they will be unable to capture CACs through the rezoning process. Never enough CACs and DCCs I guess...
From the Daily Hive - Metro Vancouver's urban planning considerations need to prioritize urban economics, says renowned planner.
The recently released CHBA Q3 Housing Market Index (HMI) for single-family and multi-family developments fell in the third quarter of 2023, which means much less housing supply in the quarters ahead. Additionally, CHBA reports on the well-established link between the Bank of Canada’s policy rate path and HMI builder sentiment.
At a news conference this week, Housing Minister Sean Fraser stated that the federal government will reveal more housing measures in the fall budget update and in the coming months that aim to ramp up homebuilding across the country. Some of those expected measures include tying federal infrastructure spending to housing outcomes in local communities.
Approximately 60% of Canadians express support for enhancing urban density, as indicated by polling data released recently from Pollara Strategic Insights. However, when questioned about their reaction to a single-family home on their block being converted into a triplex, only around 20% considered it a "positive development". NIMBYism in a nutshell!
Last Chance: CHBA is conducting their annual Home Buyer Preference Survey, in partnership with Avid Ratings Canada. By participating in this survey, you'll learn crucial insights into your customers, allowing you to capitalize on areas that matter most to them. This CHBA member perk is an opportunity for you to have your homebuyers surveyed by an independent and reputable third party, giving you answers from your most accurate information source. As the survey link is now closed, please email communications@chba.ca if you would like to participate.