Premier Eby’s Proposed Housing Supply Act a Long-Needed Policy to Address Housing Supply Shortfall in BC

Vancouver, BC, Nov. 21, 2022 (GLOBE NEWSWIRE) — The BC Real Estate Association (BCREA) is pleased to see Premier David Eby’s announcement of the BC Housing Supply Act today. This new legislation—if passed—would improve housing supply, provide stronger leadership and incentivize municipalities around development planning and housing targets.

The housing affordability crisis is a national issue, and requires the coordinated effort of all three levels of government. The BC Housing Supply Act represents a strong potential missing piece of the puzzle in crafting a better policy approach moving forward. Many policy experts have long identified a protracted approvals process as a key obstacle in bringing necessary housing to the market.

“Increased provincial leadership, guidance and resources around the municipal housing approvals process has been long-needed policy in BC, and this is a strong first step,” says Senior Vice-President of Government Relations and Communications, Trevor Hargreaves.  

“It’s reassuring to see a more hands-on approach by Premier Eby with today’s announcement, demonstrating the desire and willingness to lead, and if necessary, exert stronger provincial leadership to municipalities around housing development across the province,” Hargreaves adds.

Working with local governments to identify barriers and obstacles in their housing development processes is a much-needed collaborative resource for municipalities. The Housing Needs Report is a key tool to set regional housing targets. BC’s real estate sector is encouraged by the provincial government’s commitment to providing actionable items to ensure those targets are met.

BCREA is committed to advocating for modernizing housing policies, at all levels of government, to ensure that more housing options are available to British Columbians seeking all types of housing, and that new projects are approved in a faster, more efficient manner.

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About BC Real Estate Association
BCREA is the professional association for over 25,000 commercial and residential REALTORS® in BC. Our mission is to empower the province’s eight real estate boards by sharing our expertise and providing professional development opportunities, advocacy, economic research and standard forms so REALTORS® are trusted, respected and proud of their profession.

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