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Builders looking for ways to reduce obstacles

“Prices will grow, but not as fast next year or the year after,” she said, noting prices in the resale market are expected to increase by about five per cent in 2022 and 2023. But she warned there is a lot of uncertainty when it comes to predicting what’s going to happen in the mid- and long term, as housing demand is driven in part by population growth, which is expected to resume its pre-­pandemic pace in 2022 as ­immunization efforts progress. CMHC suggested the local job market would return to its pre-pandemic level in 2022, which is vital to attracting migrants from other prov...

Article content Metro Vancouver housing prices will continue to rise after the COVID-19 pandemic, creating a drag on sales growth as homebuyers’ budgets shrink, according to the Canada Mortgage Housing Corp.’s spring outlook Thursday. CMHC senior analyst Braden Batch predicted that Metro’s housing market will face the same housing affordability and supply-shortage challenges that existed pre-pandemic. We apologize, but this video has failed to load. Try refreshing your browser, or Higher prices will create drag on future sales of Metro Vancouver homes: CMHC Back to video He said deman...

‘It is desperate,” Violet Hayes, executive director of the Island Crisis Care Society, said Tuesday. “It’s really challenging. We regularly get calls from people that are asking us do we have any leads. It’s just almost impossible [for] people on fixed incomes. [It is] so hard to find a place.” The market is getting tighter as people move to Nanaimo, she said. The city estimated its 2019 population at 98,957 and anticipates reaching 106,254 by 2024. The vacancy rate in Nanaimo, which has 4,132 rental apartment units, has declined even though more than 400 new units were comple...

Homebuilding in Greater Victoria isn’t taking much of a break during the pandemic, according to year-end figures released Monday by Canada Mortgage and Housing Corporation. The national housing . . .