Here we are, nine days post-election day, still waiting for final results in what is a razor-thin margin in which one riding change could mean the difference between a minority or a majority government. Today’s count of more than 22,000 absentee ballots provincewide will likely settle our provincial election. Why has it taken so long?
As noted last week, 57.4% of registered voters cast ballots, totalling 2,027,900 individual votes across British Columbia.
Over this past weekend, recounts took place in ridings where the results were too close to call. As of Noon today, Elections BC has provided the following update:
Juan de Fuca-Malahat, originally a 23-vote difference, has opened up with the NDP ahead by 114 votes.
Surrey City Centre, originally 96 vote difference, currently has the NDP leading by 190 votes.
Kelowna Centre, originally a 147-vote difference, currently has a 62-vote difference with the Conservatives ahead.
And everyone is watching Surrey-Guildford, originally a 102-vote difference for the Conservatives, has been flipped with a 14-vote lead for the NDP. If this holds, the NDP will form a majority government. If not, the NDP will still have a minority government.
Official election results from October 19 have not changed during the recount, but with continued counting through the day, even a change in one riding could define a majority or minority government. As it stands on Monday at Noon:
NDP Elected 47 seats Leading in 3 Potential 47 seats
Conservatives Elected 43 seats Leading in 1 Potential 44 seats
Greens Elected 2 seats Leading in 0 Total 2 seats
BC Green Party leader Sonia Furstenau, while losing her MLA seat, has chosen to stay on as party leader and has made it clear that she is not impressed with Conservative John Rustad’s leadership.
But hang on, even if the NDP wins 47 seats, they still need Green Party support because one MLA, likely from the NDP, will be designated speaker, a non-voting position.
And given the closeness of the vote in Surrey-Guildford, a judicial recount may be required, which would delay final results by a few more weeks.
Still a nail-biter here in BC! Stay tuned, and in next week’s MMB we will reference back to election promises and what political impacts could be seen in our industry as a result of how our Province will be governed. Counting continues through this afternoon.
HAVAN AT CANADA’S CAPITAL FOR KEY ANNOUNCEMENTS DURING CHBA MEETINGS
CHBA National held its annual fall meetings in Ottawa last week, bringing together executive officers, staff and members from across the nation to collaborate and share insights on housing activities, policies, research, government relations, code, and association resources. I was joined by Henri Belisle, HAVAN’s current Chair, Alisa Aragon-Lloyd, incoming HAVAN Chair, Randy Chin, HAVAN and CHBA BC past Chair.
Some of key items discussed:
- Common issue across the country – municipal inconsistencies. Discussion on “Municipal harmonization”: Recommendations for Feds to have provinces step in to enforce harmonization between municipalities (bylaws, zoning, development standards). Discussions on DC/DCCs and potential solutions.
- Municipal Benchmarking Study (year 3) by the Altus Group, commissioned by CHBA National, is set to be released January 2025 and includes three Metro Vancouver municipalities – Vancouver, Burnaby and Surrey.
- National Construction Codes in 2025 is bringing big changes across the country. CHBA advocating for a National Code Interpretation Centre, a database of code interpretations accepted as deemed solutions which would be accessible all building officials. Creating better consistency and information access.
- CHBA Net Zero program celebrated 10 years, reporting 2500+ people trained on Net Zero across Canada to date, and over 2100 labelled homes. Also, looking to expand the labelling program to include an option for operational and embodied emissions reductions in the next three years.
- Adoption of a new CHBA Women in Residential Construction Council.
- RenoMark will be establishing a Governance Committee to oversee issues directly related to the program management. Deadline for members to sign up for verification to be added to the CHBA RenoMark program ended September 30 but you can still be part of RenoMark – connect with renee@havan.ca for details.
It was timely that homebuilder association representatives from coast-to-coast were gathered when key federal announcements were made:
- On Thursday, Prime Minister Justin Trudeau announced a major reduction in the number of permanent residents over the next two years, to better balance labour needs, population growth, and lessen the strain on housing and infrastructure. CHBA National maintains that it is crucial the “immigration selection process addresses the needs of the home construction sector … to enhance the selection of immigrants with relevant construction experience to ensure the residential construction sector receives a significant share of newcomers.”
- On Friday, the Bank of Canada delivered a half-percent interest rate reduction, bringing down the bank’s policy rate to 3.75 percent. With inflation holding around the 2% target, the Bank is anticipating the cut will encourage growth and spending. With new-home sales in the slump, this further reduction – the fourth since June – the industry is hoping this significant cut will spur homebuyer activity in our region.
- This morning, the Conservative Party of Canada (CPC) announced a proposal to increase the GST rebate threshold on new homes from $450,000 to $1 million, which is promising for better housing affordability, especially in a region where a significant percentage of homes exceeds the current ceiling limit. In the statement, the CPC stated they would pay for this policy by proposing to eliminate Housing Accelerator Fund and the Canada Housing Infrastructure Fund. It will be important tat they also address the two key elements of those initiatives they are proposing to eliminate: 1) providing means to get municipal change in terms of processes and policies to remove barriers to more supply; and 2) providing housing-supportive infrastructure funding to enable that supply. CHBA CEO Kevin Lee is addressing this topic.
With federal elections predicted to take place next year, we can expect to hear more promises from federal parties. Watch this space for updates.
HAVAN continues to work with CHBA BC and CHBA to advocate for all levels of government to work together to address the challenges of the housing industry including zoning restrictions, density limits, and NIMBYism.
Looking to stay up-to-date on Metro Vancouver’s residential housing industry? Sign up for Wendy’s weekly Monday Morning Briefing and other HAVAN emails here.
QUICK BITES …
- Need Member Input: Proposed Changes for Grab-bar Backing in Bathrooms (One-minute Survey)
The National Building Code Standing Committee on Use and Egress are reviewing proposed changes for grab bar backing/blocking in bathrooms. Discussion was raised on whether windows and niches will be allowed within the grab bar backing/blocking area. To support this discussion, please answer the following 1-minute survey on the frequency of windows and niches being installed within walls of bathtubs, bathtub/shower combos, showers and around toilets. Complete the survey by November 1. For non-builder members, please answer based on how frequently you have seen or designed the options in new construction. - Terence Corcoran of the Financial Post takes a hard look at the claim that Canada’s tax-free capital gains on primary residences is a major market distortion that keeps housing prices high. Corcoran notes since homeowners do not operate on a profit-making structure based on expenditures and revenues, they cannot deduct expenditures. It’s an interesting look at real costs.
- More Interest Rate Reductions Ahead? Canadian Mortgage Trends are predicting another 1.75% rate relief by the end of 2025 to bring the Bank of Canada policy rate to 2 percent, translating to a prime lending rate of around 4.2 percent for most major lenders.
- FortisBC is hosting a COMPLIMENTARY Energy Insights Evening on November 14 at the Sheraton Guilford Hotel, Surrey, for builders, developers, contractors, and anyone related to the building / development community in the Metro Vancouver region. An opportunity to learn more about BC’s energy landscape, the agenda includes real-life case studies on building efficient and resilient homes, as well as learning about the latest in energy-efficient technologies for part 9 residential homes. Event includes free plated dinner and cocktail reception, networking with industry experts, panel discussion with a builder, energy advisor, and contractor on energy planning for Part 9 residential projects, and more. Registration is required: Spots are limited. Details and Registration
- GREEN SHEETS DATA ON THE GO! HAVAN member Green Sheet Construction Data tracks the Metro Vancouver construction market. Their online searchable database provides clients with a powerful tool to see past, current, and future construction projects across the Lower Mainland. Visit Green Sheet Hot Tips to view this month’s featured projects.
- CONNECT Municipal Dinner on November 6th has a few tickets remaining. Over 20 elected officials from across the Lower Mainland have registered to attend. This is an opportunity to build relations, share ideas across the regions, and have our collective voice heard. Register here!
- COATS FOR KIDS – Last Chance to sign up to be a Drop Off Location. The coat and toy drive runs November 5 – December 5, with a wrap up party @ Nick’s Bar (Trail Appliances Vancouver) – sponsorships are available here. Drop Off Location and Sign Up Details Here!
