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

UPDATE: Coquihalla now open north of Hope

Accident happened earlier this afternoon

Hope Secondary teacher disciplined for inappropriate contact with student

Female teacher pursued Grade 12 student for friendship even after being rebuked

Chilliwack Players Guild presents beloved classic ‘A Christmas Carol’

The Chilliwack Players Guild brings famous Dickens tale to life at the Chilliwack Cultural Centre

UPDATE: Missing Edmonton man found

Justin Saris, 37, was on his way to Chilliwack from Edmonton

Crash in Langley slows westbound traffic on Highway 1

Lanes have recently been cleared but cars are backed up past Bradner Road

‘We love you, Alex!’: Trebek gets choked up by ‘Jeopardy!’ contestant’s answer

The emotional moment came in Monday’s episode when Trebek read Dhruv Gaur’s final answer

Birthday boy: Pettersson nets 2 as Canucks beat Predators

Vancouver ends four-game winless skid with 5-3 victory over Nashville

Judge rejects Terrace man’s claim that someone else downloaded child porn on his phone

Marcus John Paquette argued that other people had used his phone, including his ex-wife

Petition for free hospital parking presented to MP Jody Wilson-Raybould

What started as a B.C. campaign became a national issue, organizer said

Bargaining to resume in Metro Vancouver transit strike as bus driver overtime ban looms

Both sides might be headed back to the table to prevent new overtime ban

Petition to ‘bring back Don Cherry’ goes viral after immigrant poppy rant

Cherry was fired from his co-hosting role for the Coach’s Corner segment on Nov. 11.

B.C.’s high gasoline prices still a mystery, Premier John Horgan says

NDP plans legislation this month, seeks action from Justin Trudeau

Group walking on thin ice at B.C. lake sparks warning from RCMP

At least seven people were spotted on Joffre Lakes, although the ice is not thick enough to be walked on

VIDEO: Don Cherry says he was fired, not sorry for ‘Coach’s Corner’ poppy rant

Cherry denies he was singling out visible minorities with his comments

Most Read