Issue 32 March 2019

National Issues

Federal Budget – March 19, 2019

The federal budget includes a new First-Time Home Buyer Incentive, increases to the Home Buyers’ Plan, expansion of the Rental Construction Financing Initiative, and measures seeking to address the housing supply shortage—all items in line with CHBA recommendations. It also makes reference to monitoring the effects of the stress test and adjusting it if economic conditions warrant, again a key concern of CHBA members. Check out the CHBA budget news release here for more information.

If you missed the members-only budget webinar on March 22, you can view the video and slide deck here. For CHBA National’s overview and analysis of the federal budget, please view the document here.

Federal Expert Panel on Affordability and Supply

As part of Budget 2019, the federal government announced it is creating an expert panel on the future of housing affordability and supply. This is in partnership with the B.C. government. View the news release here.

The Expert Panel will examine housing trends for rental and homeownership, and explore what other actions could take place. The Expert Panel will be comprised of leaders and specialists in a range of fields with relevant expertise who will be jointly selected by Canada and British Columbia in the coming months. Both CHBA BC and CHBA National will inquire about participating as stakeholders on this panel.

Announcements

Changes to the CPD program for licensed builders

On March 6, the B.C. Government announced changes to the Homeowner Protection Act as part of “Better Regulations for British Columbians 2019.” These changes simplify the Continuing Professional Development (CPD) program for Licensed Residential Builders in British Columbia.

The changes will come into effect on July 1, 2019. They include: the active practice category is removed and 20 CPD points are required instead of 40; the option to carry over points from one term to the next; and no requirement to take the majority of points in one category each year.

Read the news release and view the updates here.

Provincial Consultations

Development Approvals Review Working Group

CHBA BC is a member of the working group through the Ministry of Municipal Affairs and Housing. The regional technical committees (North, Okanagan/Interior, Island and Metro Vancouver) met for a second time in March. The final report is expected in June.

Money Laundering

On March 15, CHBA BC and CHBA National met the provincial “Expert Panel on Money Laundering” to discuss British Columbia’s real estate sector. View the panel terms of reference here. CHBA highlighted its existing work on the underground economy through the Get It In Writing! program, and participation on working groups with Canada Revenue Agency and FINTRAC. CHBA also reiterated the need to target future efforts towards industry members that are not in compliance, as opposed to further regulations on the industry at-large, and to include industry stakeholders as policy solutions are developed. Read the CHBA money laundering submission from January 2019 here.

Employment Standards Act

CHBA BC submitted to the Employment Standards Act review, in coordination with other stakeholders in B.C.’s business community. Read the submission here.

Events

Georgie Awards

CHBA BC was pleased to have the Hon. Bruce Ralston, Minister of Jobs, Trade and Technology attend the 27th Annual Georgie Awards Gala on March 9, 2019. Minister of Municipal Affairs and Housing, the Hon. Selina Robinson, also sent greetings that were shared by CHBA BC President Brian Charlton during his speech.