The British Columbia Real Estate Association (BCREA) has announced a five-pillar approach to address housing affordability for renters, homebuyers and homeowners across British Columbia.

BCREA’s five pillars include recommendations to assist consumers with housing costs, encourage the creation of more rental housing, densify urban areas, adjust the Property Transfer Tax and promote best practices among local governments.

“Realtors understand the importance of housing affordability in creating strong communities,” says Robert Laing, BCREA CEO. “Through these five pillars, BCREA’s recommendations provide a clear pathway toward making homes more accessible and affordable for British Columbians.”

BCREA’s recommendations are supported by the Canadian Home Builders’ Association of B.C. “Many of the BCREA proposals on market housing affordability are shared priorities and goals of CHBA BC,” says Neil Moody, CEO. “These actions on supply and building costs help industry deliver a more affordable product for homebuyers, provide more choice for buying or renting and decrease extra costs for buyers like the Property Transfer Tax.”

More information on BCREA’s five pillars can be found on the association’s new website at www.bchousingaffordability.ca.