The shift to apartment living

Joyce-Collingwood urban village, Vancouver

Joyce/Collingwood urban village, Vancouver

A couple of decades ago, half the private dwellings in Metro Vancouver were classified as detached homes. That share has dropped steadily, to one-third or less. A growing majority of private dwellings are apartments, townhomes or duplexes.

Post-2000 detached houses, Marpole, Vancouver

Post-2000 detached houses, Marpole, Vancouver

The trend is not news. Most of the available statistics, posted again in this month’s Metro Vancouver Housing Data Book,  date from 2011. Even so, the discourse around housing continues to highlight low-density, high-prestige home ownership, even when this housing type has moved beyond the reach of most working families. National media coverage of Vancouver-area real estate in 2015 and 2016 focused on the stunning rise in detached home prices, not on the more modest increases in townhome and apartment prices. Controversies around  residential development, from Marpole on Vancouver’s west side to Brookswood on the region’s eastern edge, are most often constructed around perceived injury to the interests of detached home owners. In a July 2016 legislative debate on measures designed to cool Metro Vancouver’s housing market, British Columbia’s finance minister noted that the absolute number of detached homes in the Metro region has dropped over the past 25 years despite the addition of more than a million people to the population. He called this data “fascinating”, as if he was coming across it for the first time. Continue reading

The brief debate on a new real estate tax

Burnaby Heights housing reduced

On July 25 British Columbia took a step into the unknown. The government introduced a bill to impose a 15 per cent additional tax on sales of residential property — but only within Metro Vancouver, and only “where the transferee or purchaser is a foreign national, as well as certain corporations or trusts that involve foreign nationals.”

B.C. Finance Minister Mike de Jong (CBC News)

B.C. Finance Minister Mike de Jong (CBC News)

In calling a rare summer meeting of the Legislature to approve this measure, the BC Liberal government was responding to rising public anxiety around the housing market. One-year price increases for detached homes were approaching 50 per cent in parts of Metro Vancouver. The Liberals had linked this price inflation to a shortage of housing supply; this site predicted in March 2016 that they would not take dramatic action to restrain demand. The opposition New Democrats called this special legislative session “the flip-flop session.” Continue reading