B.C. residents split on effectiveness of current housing policies, poll finds
British Columbians are split on whether they believe the provincial government’s policies will ultimately make it cheaper to buy a home, according to a new survey.
Forty-two per cent of the Research Co. poll respondents said they think the government’s actions will effectively make housing more affordable. That is down 15 points from a similar Research Co. survey conducted in June 2020.
Meanwhile, 43 per cent said they believe the provincial government’s housing actions will be ineffective, up 12 points from last year, and 16 per cent said they are undecided.
The president of Vancouver-based Research Co., Mario Canseco, said that number jumps out to him, especially considering the majority of respondents were in favour of the government’s speculation tax.
“We have a very low number of people who believe that this is actually going to lead to housing affordability,” Canseco told CTV News Vancouver in an interview Wednesday.
“We used to have this number closer to 60 per cent, and now there’s fewer than half who say we do believe that the taxes are going to help people,” he said.
Canseco added the taxes have been popular over the past few years, and that people continue to believe it is the correct course of action, but fewer residents have said current policies are the solution to the housing crisis.
“They have been collecting these taxes for a while, they continue to be popular, and we don’t really see a lot of people who have been able to enter the real estate market,” said Canseco, specifically pointing to people between the ages of 35 and 54 who may be trying to start families.
“That is the group that is essentially losing faith in this,” he added.
The poll found support for the speculation tax was highest with B.C. residents who voted for the NDP in last year’s provincial election at 77 per cent, and lowest for B.C. Liberal Party voters, at 67 per cent. B.C. Green Party voters came were in the middle of the two parties, at 73 per cent.
According to the survey, 75 per cent of residents are on board with the B.C. government’s decision to boost the current foreign buyer’s tax from 15 to 20 percent, and to expand the tax to regions outside of Metro Vancouver.
The poll also asked respondents if they would support similar legislation to that of New Zealand, which banned most foreign real estate buyers to the country. More than seven-in-10 British Columbians said they would.
That figure rose to 75 per cent in women, and 90 per cent in northern B.C. residents.
The poll also found that more than two-thirds of the province’s residents agree with a tax of 0.2 per cent on the value of homes between $3 million and $4 million, and a rate of 0.4 per cent on the portion of a home’s value surpassing $4 million.
Similarly, 67 per cent agree with the decision to boost the property transfer tax up to 5 per cent for homes valued at more than $3 million.
“Even on a situation like this which is going to be detrimental for those in the highest income bracket, you continue to see a high level of support for the taxes,” Canseco said.
He added a big part of problem continues to be the availability of homes.
“We haven’t had a connection between the taxes that are generated, and the existence of actual properties that want to get into the market can get into,” Canseco concluded.
Results of the poll come from an online study done June 1 and June 2 of this year, among 800 B.C. adults. Research Co. confirmed the data was weighted according to Canadian census figures for age, gender and region in B.C.
The margin of error is plus or minus 3.5 percentage points, 19 times out of 20.
CTVNews.ca Top Stories
DEVELOPING 122 active wildfires burning across Canada, 32 considered 'out of control'
The 2024 wildfire season has begun, and it's shaping up to follow last year's unprecedented destruction in kind, with thousands of square kilometres already consumed.
B.C. parents sentenced to 15 years for death of 6-year-old boy
A British Columbia Supreme Court judge has sentenced the mother and stepfather of a six-year-old boy who died from blunt-force trauma in 2018 to 15 years in prison.
Veteran TSN sportscaster Darren Dutchyshen has died
Veteran TSN broadcaster Darren 'Dutch' Dutchyshen, one of Canada’s best-known sports journalists, has died. He was 57. His family says 'he passed as he was surrounded by his closest loved ones.'
'More aggressive': Tocchet shifts lineups as Canucks get ready to take on Oilers in Vancouver
As the Canucks prepare to take on the Oilers for Game 5, Vancouver head coach Rick Tocchet is making changes to the team's lineup.
Think twice before sharing 'heartbreaking' social media posts, RCMP warn
Mounties in B.C. are urging people to think twice before sharing "heartbreaking posts" on social media.
Police issue Canada-wide warrant for Regina homicide suspect
Police have issued a Canada-wide warrant for a man wanted in a homicide which occurred in Regina on May 12.
Trudeau calls New Brunswick's Conservative government a 'disgrace' on women's rights
Prime Minister Justin Trudeau assailed New Brunswick's premier and other conservative leaders on Thursday, calling out the provincial government's position on abortion, LGBTQ youth and climate change.
Kevin Spacey receives star support as he fights to get his career back
Kevin Spacey is pushing back on the 'rush to judgment' against him and is being backed by some big names as he seeks to reclaim his acting career.
Speaker cuts ties with Sask. Party, alleges he faced threats, harassment from gov't MLAs
The Speaker of the Saskatchewan Legislature Randy Weekes has severed ties with the Sask. Party after accusing some members of harassment and intimidation tactics, including a situation he claimed saw the Government House Leader bring a hunting rifle to the legislative building.