The solution to creating housing affordability is having the private sector build more

B.C. Liberal leader says private sector development will help housing affordability

Andrew Wilkenson spoke in Kelowna during a real estate conference

More than 150 people gathered at the Laurel Packing House in Kelowna, Wednesday, to hear the latest findings on real estate in the Okanagan from HM Commercial Group.

The event focused on housing affordability for all British Columbians, with Andrew Wilkinson, Leader of the B.C. Liberal Party and Andrey Pavlov, from the Beedee School of Business at Simon Fraser University, as keynote speakers.

According to Pavlov, the issue surrounding affordable housing is a lack of supply, caused by government regulation.

“Most recently the speculation and vacancy tax is playing a major role in reducing supply because it makes it harder for developers to make the economics work,” explained Pavlov. “All the taxes and government intervention may help in the short term but over the long run we still have population growth and people wanting to come here (B.C.), if we don’t build more we are only going to worsen affordability going forward.”

Wilkinson agreed that the speculation and vacancy tax penalizes developers more than it assists.

“What we have said is get a real speculation tax, get rid of this phoney one, and put one (a tax) on those who flip contracts and condos, that is a real speculation tax,” argued the Liberal leader.

READ MORE: Okanagan real estate team releases report on housing affordability

Both, Pavlov and Wilkinson noted B.C. continues see an increase in population which is not something that is going to slow down anytime soon.

“About 50,000 to 60,000 people move to B.C. every year and establish themselves,” said Wilkinson. “We need to create more housing and the private sector needs to build it and our municipalities need to plan for it. In some cases that means bigger buildings and more density.”

Wilkinson said the B.C. Liberals are in favour of the private sector playing a role to help improve housing affordability.

“We cannot have the government trying to house a million people, the NDP may think that way but it’s never going to work.”

READ MORE: Governments lose revenue as housing sales drop in Okanagan

Pavlov also said he believes that the government should step back and remove restrictions on the supply of housing so private developers can step in.

“The prices of houses are high because we don’t build enough, so the solution is to build a lot,” he explained. “Even if we build luxury apartments and houses, that is fine because we are increasing supply and this will mean prices will fall or at least not increase.”


@Jen_zee
jen.zielinski@bpdigital.ca

Like us on Facebook and follow us on Twitter.

Just Posted

Man who once killed a fellow inmate convicted of threatening guard at Kent

No prison time for threat nine years after MMA-style beating death in Maple Ridge

BREAKING: Vehicle fire on Highway 1 between Chilliwack and Abbotsford

One westbound lane blocked after 11:30 a.m. on Friday leading to traffic delays

Fraser Cascade students vape more often than average B.C. youth

Fraser Health’s Dr. Alexandra Choi shared her concerns around vaping, and what Kent could do about it

UFV Town and Gown dinner raises more than $245,000

Of the total raised, $100,000 will go toward a new Peace and Reconciliation Centre

Ticket prices going up for Agassiz bylaw infractions

Early fee payments will now see a 20 per cent discount, but most fees still higher

VIDEO: Agassiz, Harrison honour Remembrance Day

The annual ceremony took place at AESS, followed by a moment of silence at the Agassiz cenotaph

B.C. woman seeks return of jewelry box containing father’s cremated remains

Sicamous RCMP report handmade box was stolen from a storage locker

Vancouver police officer charged with sexual assault in apparent off-duty incident

Jagraj Roger Berar, 51, of Surrey, charged in incident alleged to have happened in Whistler

VIDEO: Surrey mayor decries ‘alarming frequency’ of ‘mob violence’ after another brawl

Surrey RCMP urge the public to come forward with information about those involved

CN Rail confirms job cuts as weakening economy cuts into freight volumes

Railroad also said it was affected by a slowdown in the B.C.’s forestry sector

Port Alberni mom takes school district to court over Indigenous smudging, prayer in class

Candice Servatius, who is an evangelical Christian, is suing School District 70

New case of vaping-related illness in Quebec brings national total to 8

Quebec health minister considering tightening the rules around vaping products

Greens to vote against Liberal throne speech unless carbon targets toughened: May

Green leader Elizabeth May and Prime Minister Justin Trudeau met Friday, discussing common ground

Falling tree crushes front of SUV carrying Surrey woman, granddaughters

City confirms ‘failure’ has triggered risk assessment of Croydon Drive trees

Most Read