HOUSING

Having safe and accessible housing people can afford is a basic need that contributes significantly to quality of life.

HOUSING

Housing

Housing Advocacy and Support

The Tenancy Legal Advocacy and Empowerment Project supports clients with one-on-one assistance for residential tenancy issues, such as eviction, rent payment troubles, and conflict management to deal with unsafe or unsuitable living conditions. The project, an initiative of the Together Against Poverty Society (TAPS), has been running for several years, partially supported by Victoria Foundation funding. It also advocates with the provincial government, pushing for more proactive measures to prevent homelessness. 

Initially, the project helped people access government-related benefits. Recently, it has become more complex. “Many clients who are currently housed and receive government benefits are still at risk of homelessness,” states Douglas King, Executive Director of TAPS. In the past two to three years, there has been a significant increase in demand for assistance, as no-fault evictions are now more common. 

Historically, housing shelters were designed primarily for single men with various struggles. “Increasingly, we see diverse clients, including single mothers and families, who face eviction with nowhere to go. There is a critical need for shelters that accommodate families and for low-income housing to prevent no-fault evictions,” says King. This project addresses a huge blind spot in the system, helping tenants navigate complex legal and housing issues in an attempt to prevent homelessness. 

SPONSORED BY
Oakcrest Park Estates LTD.

Vital signs citizen survey grade

D-

Last year’s grade was D

Housing

Vital signs citizen survey grade

D-
Sustainable Development Targets

SUSTAINABLE DEVELOPMENT TARGETS

HOUSING SALES AND PRICES

Properties sold in Greater Victoria in May 2024

763 DOWN 1.5% FROM MAY 2023

The ratio of residential sales to active residential listings was 28% in May 2024, making Greater Victoria a seller’s market, with upward pressure on prices reflecting growing demand coupled with ongoing lack of inventory.

Median sale prices in May 2024

SINGLE-FAMILY HOME
$1191000
up 1% from $1,174,950 in 2023

TOWNHOUSES
$789574
up 1% from $785,000 in 2023

CONDOS
$547450
down 2% from $560,000 in 2023

May is typically when Greater Victoria is at or near peak of activity in the property market.

SOURCE: VICTORIA REAL ESTATE BOARD 

RENTS AND RENTAL VACANCY

In Greater Victoria in October 2023
Average vacancy rates for purpose-built rental apartments
(i.e., units built as long-term rental housing)

ALL UNIT TYPES 1.6% similar to 2022 (1.5%)

HIGHEST VACANCY RATE1.6% 2 bedroom units

LOWEST VACANCY RATE1.1%3+ bedroom units

AVERAGE APARTMENT RENTS

ALL UNIT TYPES $1,571
up from 7.8% from $1,467 in 2022

BACHELOR $1,222

3+ BEDROOM $2,123

The supply of purpose-built rentals in the region grew by 1,490 units in 2023, compared to 1,328 units in 2022, with most of the new supply in Victoria and the Westshore in 2023.

SOURCE: CANADA MORTGAGE AND HOUSING CORPORATION 

0%

A person working 35 hours a week at BC’s minimum hourly wage of $17.40 would need to spend 46% of their gross monthly income to rent a bachelor apartment ($1,222) in Greater Victoria, based on 52 weeks per year

54 HOURS per week at minimum wage is required to affordably rent this apartment (i.e., spend no more than 30% of household income on rent). 

SUSTAINABLE DEVELOPMENT TARGETS

11.1: Access to adequate, safe, and affordable housing for all

SENIOR RENTAL HOUSING PRECARITY 

In the Capital Region in 2021

0%

OF RENTERS WERE AGED 65 YEARS AND OLDER

APPROXIMATELY 53% of senior renters spent over 30% of their monthly income on rent and utilities, making their housing unaffordable and 21% spent over 50% of income on rent and utilities, putting them at heightened risk of homelessness.

These spending rates are higher than for BC senior renters (49% and 19% respectively) and highest among other age groups in the region, with renters, aged 15-29 years, close behind at 46% and 19% respectively. 

SOURCE: BC NON-PROFIT HOUSING ASSOCIATION 

HOUSING STARTS AND COMPLETIONS

Housing Starts in Greater Victoria in 2023

4992 TOTAL
up from 4,787 in 2022

4238Apartment and other unit types

385Single-detached units

303Row units

66Semi-detached

Housing Completions in Greater Victoria in 2023

4194 TOTAL
up from 2,758 in 2022

3210Apartment and other unit types

622Single-detached units

236Row units

126Semi-detached

SOURCE: CANADA MORTGAGE AND HOUSING CORPORATION 

COMMUNITY IN FOCUS

BC MUNICIPAL HOUSING TARGETS

In 2023, the Province began setting five-year housing targets for priority municipalities across BC. Targets were established for Victoria, Saanich, and Oak Bay in 2023, and for Central Saanich, Colwood, Esquimalt, North Saanich, Sidney, and View Royal in 2024. Municipalities report progress at six months and then annually. At the six-month mark, Victoria had exceeded its year-one target, Saanich was close on the overall number, and Oak Bay was behind. 

Contributing to the region’s targets, the University of Victoria has identified 50 acres for development, including the Ian Stewart Complex and Queenswood Campus in Saanich and the Cedar Hill Corner Property in Oak Bay. UVic will use these lands to build a connected community, deliver new housing, and diversify revenue. 

SOURCE: PROVINCE OF BRITISH COLUMBIA AND UNIVERSITY OF VICTORIA