Lieutenant-Governor says government will tackle 'generational challenge' of housing
British Columbia’s NDP government outlined its agenda for the upcoming year as it commenced the spring legislative session with a speech from the throne.
The speech, delivered by Lieutenant-Governor Janet Austin, included promises to boost housing availability for first-time homebuyers and enhance eviction protections for renters.
Austin told the legislature that these measures are part of the government’s ongoing efforts to address the housing challenges in the province.
“Housing costs went up and in recent years. The combination of inflation, interest rate hikes, and a lack of supply has only made the situation harder for people looking to buy or rent a home,” she said. “This is a generational challenge, and we must meet the moment.”
Austin also shared details about BC Builds, which she described as “the next step in the Homes for People plan.”
According to Austin, BC Builds aims to utilize government-owned, public, and underutilized land, alongside grants and affordable financing options, to reduce construction expenses and enable the development of more middle-class housing projects.
“This is a model that has been used in cities around the world,” she said.
The government had previously announced a cap on allowable rent increases, setting it at 3.5% for 2024.
It also announced plans to introduce a flipping tax aimed at discouraging short-term speculation back in April 2023.
“We are in urgent need of more housing throughout British Columbia, which is why we are taking strong steps through our Homes for People strategy to close the gap between supply and demand,” said Housing Minister Kavi Kahlon in a previous statement. “We are working with our partners to unlock more homes across the spectrum of housing faster than ever, so everyone in our province can have a safe, secure and stable place to call home.”
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