VICTORIA B.C. – Due to the volume of interest received in its Affordable Homes Strategy, the B.C. Green Party has released a document explaining key elements of the strategy and clarifying some of the details, including the policy on provincial capital gains tax.Read more
Andrew Weaver announces Bradley Shende as B.C. Greens Spokesperson for income security and Deputy Spokesperson for housing and affordability
VANCOUVER B.C. – Today Andrew Weaver, leader of the B.C. Green Party, announced Bradley Shende (Vancouver-False Creek) as the party’s Spokesperson for income security and Deputy Spokesperson for housing and affordability.Read more
VANCOUVER B.C. - Andrew Weaver, leader of the B.C. Green Party, released party’s Affordable Homes Strategy today in Vancouver. The strategy aims to cool the overheated housing market, increase the availability of affordable housing and provide greater protections for renters.Read more
VANCOUVER B.C. - Andrew Weaver, leader of the B.C. Green Party, announced David Wong, B.C. Green Party candidate for Vancouver-Hastings, as the party spokesperson on housing and affordability today. Wong is an architect and long-time advocate for affordability and sustainable communities.Read more
There are few topics more sprawling, or of more importance, than the state of real estate in British Columbia.
This summer, the legislature was called back into session with two weeks’ notice for the last week of July to debate Bill 28, the Miscellaneous Statutes (Housing Priority Initiatives) Amendment Act, 2016. The bill had four main purposes:
- It added an additional 15% property transfer tax to residential real estate purchased by foreign nationals or foreign-controlled corporations. (‘Foreign nationals’ are individuals who are not Canadian citizens or permanent residents of Canadian.)
- It amended the Vancouver Charter to allow the City of Vancouver to implement a vacancy tax.
- It created a Housing Priority Initiatives Fund for provincial projects that will be seeded with $75 million and a portion of the new tax revenue. (It is worth noting that Public Accounts documents indicate that the government brought in $500 million more in property transfer tax revenue this year than anticipated, suggesting to me that the initial injection in the Housing Priority Initiatives Fund should be higher.)
- It implemented recommendations to re-regulate the real estate industry.
Victoria, B.C. – Andrew Weaver, Leader of the Green Party and MLA for Oak Bay – Gordon Head, says that government policy is contributing to the rampant speculation in Vancouver’s housing market and that it could take simple steps to start addressing the issue now.Read more