Lack of budget help for young B.C. renters ‘problematic’

Advocate surprised that NDP’s election promise not included in financial update

Affordable rent advocates are among those who are surpised at Monday’s provincial budget update from the BC NDP.

The party had campaigned hard on a $400 annual rebate for renters if elected last spring, but no such cash was included in the update. Instead, $291 million over two years was set aside to build housing for the homeless, and another $208 million for 1,700 affordable rentals for lower-income families and seniors.

READ: NDP funds 2,000 housing units for homeless

“I’m a little surprised they didn’t do it,” said Generation Squeeze founder Paul Kershaw. “They tabled a ‘wait for February’ budget update.”

Kershaw said the party has only been in office for eight weeks and hasn’t had time to accomplish much, but he’s wary it could mean the government isn’t serious about levelling the playing field between renters and homeowners. The latter already receive a grant, he said.

He actually goes futher to doubt the policy itself.

“A dollar a day isn’t going to transform the affordability of rentals,” he said. “It’s one thing not to see that renters’ rebate, but what’s problematic is where’s the plan to incentivize developers to build purpose built rental?”

When reached for comment, a finance ministry spokesperson reiterated the government’s budget update promises of $291 million for housing for the homeless, $208 million for affordable housing and $7 million over three years for the Residential Tenancy Branch.

In addition, an emailed statement from the ministry noted that they are “developing a comprehensive plan to make housing more affordable for people, to close speculation loopholes, and reduce tax fraud and money laundering in B.C. real estate.”

No rentals to be found

The rental vacancy rate in B.C. has hovered at an average of 1.3 per cent over the past three years, according to stats from the Canadian Mortgage and Housing Corporation.

In Metro Vancouver, that rate sat at only 0.7 per cent at the end of 2016. The City of Vancouver’s rate is 0.8 per cent, while Surrey sits at 0.4 per cent. White Rock has the fewest available rentals in the region, at 0.1 per cent.

Outside of Vancouver, the rate is 0.5 in Abbotsford and Mission, 0.6 per cent in Kelowna and 0.5 per cent in Victoria.

Rebate wouldn’t help with rent costs

The average rent for a one-bedroom apartment in Greater Vancouver is $1,159, according to CMHC numbers. Abbotsford and Mission is at $744, Kelowna is $864 and Victoria is $912. Province-wide, it sits at $1,054.

Kershaw said he doesn’t think a $400 rebate will touch that. Instead, he’d like to see a province-wide application of Vancouver’s charter rights, which allow the city to tax empty homes and more effectively regulate short-term rental.

“I think we need a provincial framework,” said Kershaw. “I think we need other cities paying attention to the way Vancouver is doing things… and then adapt accordingly.

Victoria and Nelson are set to bring resolutions on the topic to the Union of B.C. Municipalities convention later this month.


@katslepian

katya.slepian@bpdigital.ca

Like us on Facebook and follow us on Twitter.

Just Posted

Forecasters promote avalanche safety awareness

Avalanche Canada advising backcountry enthusiasts to get proper training and equipment.

Highway conditions less than ideal this morning

Limited visibility, standing water, slippery sections: DriveBC report

From high schooler to new business owner

She may only be 19-years-old, but Zoe Simard already has a successful business.

Todd Stone campaigns in Cranbrook

BC Liberal leadership hopeful makes pitch to local supporters.

The Rockets winless streak continues on

The Golden Rockets continued their 19 game winless streak, dropping both games this past weekend.

VIDEO: Rare comic showing Superman’s 1st appearance to be auctioned

The 1938 comic features Superman hoisting a car over his head

Start on time: Canucks looking to shake first-period struggles

Canucks centre Bo Horvat said the formula for getting a leg up is there for everyone to see

COMMUTER ALERT: Snowfall warnings in effect across B.C.

Travelling this weekend? Check the forecasts before hitting the road

Drones take off to search for missing North Okanagan women

A volunteer search party was supported by professional drone operators

Tips for keeping your personal data safe, from the experts

It’s important to keep your ‘online footprint’ safe

Lights to turn blue ahead of funeral for fallen Abbotsford police officer

Buildings across B.C. are going blue Saturday night in honour of Const. John Davidson

Ride-share pioneer drives up quietly to B.C. battleground

Lyft approaches B.C. without Uber bombast, eyes small towns

VIDEO: Rare comic showing Superman’s 1st appearance to be auctioned

The 1938 comic features Superman hoisting a car over his head

Pine beetles from Jasper National Park moving into commercial forest

In 2014, beetle activity went from a few spots around Jasper’s townsite to rampant

Most Read