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B.C. housing prices soar as NDP refuse to take action on affordability

KELOWNA (April 15, 2021) – After a record-breaking month, home prices in B.C. continue to skyrocket, pushing homeownership further out of reach for many British Columbians. Meanwhile, the NDP continues to dodge questions about their progress and have no real plan to address housing affordability.

“In the face of record-breaking increases in housing prices, the NDP had the audacity to pat themselves on the back during their Throne Speech for apparently taking steps to improve housing affordability,” said Ben Stewart, BC Liberal Critic for Housing. “Now they are refusing to answer even the most basic questions about their failed housing plan. It’s clear that the NDP’s supposed solutions for affordability have had no meaningful effect on the housing market. Young British Columbians are still watching their dreams of homeownership fade away, while this government takes an undeserved victory lap.”

The BC Real Estate Association (BCREA) reports that for the month of March 2021 the average price of a home in B.C. increased by 20.4 per cent compared to the same time last year. At the same time, active residential listings decreased by 24.4 per cent as housing supply remains at the lowest levels seen in decades. This while the NDP sits on a report which outlines ways they could cut red tape and get more homes built.

“Renters are also suffering under the NDP. Rents have increased more than $2,000 a year since this government took office, yet they continue to say they have made life more affordable,” added Stewart. “The NDP also promised a $400 annual renters’ rebate in their first term and people are still waiting for that relief, even after the Premier promised it for a second time. It looks like the NDP has given up on improving housing affordability, and while facing the second wave of the housing crisis, people can’t afford this government.”

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