This year’s CREA Political Action Committee (PAC) Days saw more than 400 delegates from 54 Boards gather in Ottawa for meetings with Federal MPs from ridings within the FVREB jurisdiction. The Fraser Valley Real Estate Board’s (FVREB) Stakeholder Government Relations Committee (SGRC) and Officers had a full slate of meetings with our constituent MPs ridings including:

• Sukhman Gill- Abbotsford – South Langley
• Tamara Jansen – Cloverdale – Langley City
• Gurbux Saini – Fleetwood – Port Kells
• Ernie Klassen – South Surrey – White Rock
• Sukh Dhaliwal – Surrey Newton

The SGRC will follow up with MPs we missed – Brad Vid, Tako Van Popta, and Randeep Sara – when they are back in their local ridings in the next few months.

The team engaged in constructive dialogue on pressing issues impacting housing affordability and attainability. In particular, they reinforced CREA messages along with the key take-aways from FVREB’s newly released offsite construction report, which outlines nine key recommendations designed to expedite the adoption of prefab and modular housing as part of the broader response to the housing crisis. These discussions were well-received by the MPs and sparked meaningful conversations about potential next steps.

As we have done previously, we will continue to maintain and build our engagement with Federal MPs, provincial MLAs, and municipal mayors and councillors, to find ways to bring all three levels of government to the table to more cohesively address the housing issues we face in the Fraser Valley, the Lower Mainland, and the rest of our province.

The newest issue of LOCUS, FVREB’s flagship digital magazine, is out, delivering the latest insights and analysis on the challenges and opportunities shaping real estate.

BC Housing Minister Christine Boyle headlines the issue, sharing how her government plans to use “every tool in the kit” to tackle BC’s housing affordability crisis and build stronger, more inclusive communities.

Inside, you’ll also find:

• Brendon Ogmundson, BCREA Chief Economist, on why uncertainty has become the new normal — and what it means for REALTORS®.
• Journalist Richard Littlemore explores Canada’s housing crisis from a national-to-local lens, asking whether the Fraser Valley could lead the way in restoring affordability.
• Aled ab Iorwerth, CMHC Deputy Chief Economist, breaks down new affordability ratios and what it will take to return to pre-pandemic levels by 2035.
• Neil Moody, CHBA BC CEO, on the urgent need to bridge the supply gap and support builders as construction jobs decline.

Also in this issue: FVREB’s latest report on offsite construction, a profile of the PacificWest Conference, and the REALTORS Care® Blanket Drive, returning this November.

Read the Fall 2025 issue here.

Building faster, smarter: new report calls for a prefabricated housing strategy to accelerate affordability in BC

FVREB is calling for bold action to unlock the potential of prefabricated and modular housing as one of the key solutions to British Columbia’s housing crisis. Its new report, Building Faster, Smarter, outlines nine practical policy recommendations to help governments, industry, and communities deliver more homes quickly, sustainably, and affordably.

The report highlights how factory-built housing can reduce construction waste by up to 70 per cent, cut on-site emissions by more than 40 per cent, and deliver homes in half the time of traditional methods. Yet inconsistent municipal zoning, outdated permitting standards, and limited financing options continue to slow adoption.

“We need only look at countries like Sweden and Germany to realize that Prime Minister Mark Carney and the team at Build Canada Homes (BCH), are onto something that we in Canada need to embrace — building affordable housing at scale,” said Tore Jacobsen, Chair of the Fraser Valley Real Estate Board as well as the Stakeholder and Government Relations Committee (SGRC).

FVREB’s report outlines several key recommendations including:

• Harmonizing municipal zoning to make prefabricated housing easier to replicate across communities.
• Creating a provincial procurement roadmap to provide predictable, long-term demand for modular housing.
• Establishing a “Prefab-Ready” lending stream within CMHC’s Apartment Construction Loan Program to improve financing options.
• Empowering First Nations leadership through dedicated procurement and production partnerships in modular housing.
• Expanding TradeUpBC funding to train and prepare workers for modular and offsite construction.

“At FVREB, we believe prefabricated and modular construction represent one of the practical and innovative ways forward — one that can deliver more homes quickly, sustainably, and at prices within reach,” said Baldev Gill, CEO of the Fraser Valley Real Estate Board. “We look forward to working with governments and industry partners to bring these recommendations to life.”

FVREB’s call to action comes as the prefabricated construction industry experiences rapid growth globally and in Canada. McKinsey projects the modular construction industry will reach USD $130 billion by 2030 across Europe and the U.S., while Business Wire forecasts Canada’s prefabricated construction output will rise 5.6 per cent in 2024 to CAD $18.5 billion, and grow at a 5.3 per cent compound annual growth rate (CAGR) to reach CAD $22.8 billion by 2028.

“Canadians are facing one of the most pressing housing affordability challenges in its history,” said Jacobsen. “Offsite construction should be a key strategic pillar in our efforts to increase supply at the pace necessary to bring affordability under control.”

To read the full report, click here.

On April 24, members of FVREB’s Stakeholder & Government Relations Committee were on hand at the Board-sponsored Cloverdale Chamber’s April Networking Breakfast to introduce Housing and Municipal Affairs Minister, Ravi Kahlon, and hear announcements regarding upcoming initiatives his ministry will be undertaking to improve housing.

Building Code Reform

Kahlon expressed his intention to convene a roundtable aimed at standardizing the Building Code. He acknowledged that inconsistency in regulations is not ideal and creates uncertainty and confusion for builders, homeowners and others in the sector.

While he did not provide details about which aspects of the Building Code will be subject to review, he signalled that reforms may introduce changes that enable or restrict specific features within various housing types. These updates could have implications for renovation standards, new construction requirements and parking requirements, amongst other considerations.

Mixed-Use Multiplexes

The Minister iterated his strong belief in the future of mixed-use multiplex developments, highlighting their potential to significantly expand housing supply, and calling them “one of the most effective tools for increasing available space.”

This may indicate a potential shift in development direction if the government begins to incentivize mixed-use multiplex developments. For REALTORS®, identifying where these trends are headed could provide critical guidance for clients regarding current and emerging demand. In anticipation, many have already begun familiarizing themselves with the implications for marketing, regulatory processes, and municipal bylaws and codes.

Reform of ACCs and DCCs

Minister Khalon recognizes that the current structure of Amenity Cost Charges (ACCs) and Development Cost Charges (DCCs), particularly the financial burden of upfront payments, presents a potential obstacle to development. In response, the Minister shared timely news: the province is exploring a shift in DCC payment schedules, moving them from the pre-construction phase to occupancy.

The potential to defer significant ACCs and DCCs would reduce financial pressure on developers and improve overall project viability, enabling earlier project starts. An increase in housing supply may, in turn, contribute to softening prices and improve market accessibility, particularly for first-time buyers.

Kahlon’s remarks were met with welcome optimism as he signaled that more legislative changes are on the way this fall. The SGRC will continue to follow and report out on provincial housing developments.

The latest issue of LOCUS, FVREB’s premier digital magazine, has arrived — bringing you in-depth analysis and thought-provoking discussions on the issues shaping real estate in the Fraser Valley.

This edition features an exclusive interview with Langley Township Mayor Eric Woodward, who shares his perspective on the Province’s approach to housing and what policymakers could learn from Langley’s experience.

We also take a deep dive into the rental housing crisis, exploring whether the Fraser Valley could be the region to lead Canada’s housing recovery.

Industry experts weigh in on the market outlook:

• Central 1 Economist Bryan Yu provides his take on real estate trends for 2025
• BCREA Chief Economist Brendon Ogmundson examines the impact of immigration on housing demand

Plus, stay informed with the latest market stats, advocacy updates, and expert analysis — all in one place.

Read the Spring 2025 issue now!

In a highly charged and contentious provincial election, the NDP led by Premier David Eby, squeaked in with the slimmest and most razor-thin of margins, gaining a majority to lead the province ahead for the next four years.

This election has been fascinating for a number of reasons. Following the demise of BC United, the BC Conservatives and John Rustad catapulted into the limelight, resulting in an election that was too close to call, and which took until Monday, October 28, to declare. The rise of the BC Conservatives with leader John Rustad almost universally refusing to participate in debates much less answering any questions, also makes one ponder as to whether the results reflect an indictment among voters, of Eby and his government.

The NDP has been elected in 47 ridings, with the Conservatives elected in 44. The B.C. Greens have won two seats. 47 is the magic number needed for a majority.

Most pundits and academics believe that the NDP will need to rely on the Greens to pass legislation, and hence we are likely to see an alliance form. With such a slim margin, the NDP will have to ensure all of its MLAs are on hand for every vote and they will also need to ensure they keep the Greens happy.

Also, under the rules of the B.C. Legislature, a Speaker has to be elected to preside over the house and this person needs to be neutral, and as such this will make it even more likely the NDP will need assistance to pass legislation.

As such, most experts don’t believe that the NDP will have a major and/or ambitious agenda moving forward. Given all the legislation they pushed through on housing prior to the election, we can expect them to stay the course on those announcements. Our friends at BCREA provided some great commentary on housing issues in this election which you can find here.

To no one’s surprise, given the close outcome of the election, Eby and his government will need to ensure they let the voters know that the message has been heard loud and clear – British Columbians want to see tangible action on cost of living/inflation, housing affordability/attainability, health care, safety and crime.

Meanwhile, BC Conservative Leader, John Rustad accepted the election results, but he has not ruled out trying to topple Eby’s government, so we are definitely in for very interesting times…

As happens post-election, as the leader of the NDP, Premier Eby will need to take a closer look at his cabinet, and for us, it will be interesting to see if there are any changes to the housing portfolio.

Despite losing her bid for Victoria-Beacon, BC Green Party leader Sonia Furstenau has pledged to remain at the party’s forefront. Furstenau was seen as a strong communicator during the TV debate that took place with all three party leaders in the lead-up to the election.

If you have any questions pertaining to the work of the SGRC, please feel free to contact Shafiq Jamal, our Stakeholder & GR Affairs Facilitator, at 778-986-5600, or via email.

The fall issue of FVREB’s flagship publication, FVREB LOCUS, is now available, with housing and the fall provincial election taking centre stage. Hear from opposition leaders Sonia Furstenau (BC Green Party) and John Rustad (BC Conservative Party) as the election draws near.

This issue also features results from an FVREB survey among Fraser Valley voters on housing, affordability, and municipal and provincial leadership.

And don’t miss out on a fascinating article on the ‘Zoning Effect’ by SFU researcher, Nathan Zemp, who takes a deep dive into the impacts of zoning practices on home prices.

In case you missed the fall issue, you can read it here.

FVREB LOCUS magazine is filled with articles, stats and commentary that give members added perspective and context on housing issues that impact the real estate sector and profession. In the Spring 2024 issue:

• Transportation and Infrastructure Minister Rob Fleming discusses how infrastructure decisions impact affordability and the challenges of aligning all levels of government to make it happen.
• Challenges and opportunities as Fraser Valley communities gear up for transit-oriented development
• BCREA’s Brendon Ogmundson on how housing affordability is becoming the new “generation gap”.
• Land vs. dwelling – soaring costs has never really ever been about the structure, according to UBC School of Architecture’s Patrick Condon
• Plus, global affordability by the numbers, regional rail, stats and more.

Read your copy here

Last week, the Fraser Valley Real Estate Board launched the inaugural issue of its new digital magazine, LOCUS. From Latin, “locus” refers to a place, a spot; a specific location – from which we derive the present-day mantra of a REALTOR®. LOCUS is the Board’s flagship publication, giving public voice to its perspective on housing and real estate matters.

The housing crisis is the province’s number one issue, and as BC Housing Minister Ravi Kahlon says in the magazine’s feature interview, “Who is going to solve the housing affordability crisis? Is it the not-for-profits? The private sector? Government? My answer is: everyone!” That includes REALTORS®. By the very nature of the work we do, we bring a unique piece of insight and knowledge to the table that can help inform deliberations and decisions. LOCUS gives voice to our contributions.

FVREB Chair, Narinder Bains sums it up in his editorial: As “boots-on-the-ground” we speak to buyers, sellers, renters every single day. We hear about the challenges they are facing…the rise in frustration, worry and concern. We carry this critical human element to the table with us as we work with government, the private sector, non-profits and others. Because at the end of the day, whether we call them ‘clients’ or ‘voters’ is irrelevant—they are our shared constituency and they deserve a path forward to a basic right.”

Inside LOCUS #1 you’ll find plenty of useful insight and information that you can use in your business or share with clients. In addition to an exclusive interview with Ravi Kahlon, there’s a look ahead to what 2024 holds in store for the real estate market; an article about how FVRCF is helping the region’s youth; an analysis by Brendon Ogmundson on negative amortizations; thoughts on a future path for ORE; stats, analysis and more…

The magazine will be published three times a year, with issue #2 planning already in the works for spring 2024. 

So much of the research about housing affordability focuses on large urban cities while skirting past suburban and rural communities like ours in the Fraser Valley.

But in the Fraser Valley Real Estate Board’s Special Housing Report: Affordability in the Fraser Valley – Metro Vancouver, we take a closer look at the factors driving the cost of housing in Fraser Valley communities.

We endeavour to make the connections from the national and provincial housing issues, to the towns and neighbourhoods of the Fraser Valley and the range of solutions that could make housing more affordable.

The report includes a table that shows what each of the FVREB municipalities are trying to do to bring affordable housing within reach of their ever-growing populations.

We review the strategies that governments and other public agencies are following to transform the housing crisis from an economic and social drawback that strangles employment and enterprise opportunities, to a sustainable, affordable way of life that benefits and supports our communities, and our dreams for a promising future.