Canada's NDP


February 7th, 2022

The cost of housing in Victoria has increased almost 100 per cent under the Liberal government

VICTORIA – Yesterday, in the House of Commons, Collins spoke about the housing crisis in Victoria and the devastating effects it’s having on people living there (video). The average price of a home in Victoria when Trudeau was first elected in 2015 was $461,300. Six years later, the average price has risen to $902,700 – an astonishing 96 per cent increase. Buying a home or even finding an affordable place to rent is getting further out of reach for people in Victoria.
“The Liberal government hasn’t taken the action needed to address the housing crisis, and the situation has gotten undeniably worse for Victoria residents. The federal government can't stand by and expect people to cope with that kind of price increase. We can't continue on this path where the cost of housing rises almost a hundred per cent in 6 short years,” said Collins. “Everyday people can’t compete against foreign buyers and big investors. The Liberals are letting the ultra-wealthy treat our housing market like the stock market and it's not good enough. Families have been through so much; they need the government to have their backs.”
New Democrats are urging the Liberals to build 500,000 affordable units to address the country’s supply shortage. They are also calling on the government to finally take action to curb the impact of speculation in the housing market, starting with simply honouring their own promises to ban blind bidding, to introduce a flipping tax and to introduce a foreign homebuyers’ tax.
“Its disingenuous for the Liberals to throw up their hands and pretend there is nothing that can be done to address the skyrocketing cost of housing. You can't claim you're doing all you can when housing is climbing almost 100 per cent on your government's watch," said Collins. "The Liberals made big promises to fix the housing crisis during the election but have done little since and Victoria residents are paying the price. People in Victoria literally can't afford more inaction from this government."