Homes in Saanich Affordable for Most: Housing Report

Single-family homeownership in Saanich is now “unaffordable” for all types of households, according to the county’s latest housing needs report.

The report found that the vast majority of households—from couples with children to couples without children to singles—in Saanich spend more than 30 per cent of their monthly income on housing of any type, and that all types of middle-income households spend more than 30 per cent of their monthly income on housing of any type. 50 percent of your monthly income toward owning a single-family home.

The report notes that homeownership is likely out of reach for single-income households, who would have to spend half or more of their monthly income on most types of housing.

The rental market is only slightly better, with Saanich’s apartment vacancy rate still historically low and the pace of construction not keeping up with demand.

The report looks grim, but Mayor Dean Murdock said it is also a motivational tool that can help the county reach its housing goals.

“I don’t think any of this comes as a surprise, but it is certainly a sobering reminder of the very challenging state of our housing market and the work we have ahead of us to ensure that Saanich has places that everyone can afford. allow. “

The report says Saanich will need to build 7,683 new apartments by 2026 and 23,559 by 2041 to meet expected housing demand.

So far, the county hasn’t even met the relatively modest 440-unit goal set by the province this year. In the period from October 1, 2023 to September 30, 2024, it transferred permits for the commissioning of a total of 338 apartments.

Murdoch said a housing shortage will continue to plague Saanich.

“I would say that I am encouraged by the progress made so far. Although we are behind the province’s target, we have seen a significant increase in the number of development and construction permits being reviewed and approved,” he said, adding that a third of the permits issued were for non-market projects. evaluate projects.

Over the past year, Saanich has issued more than three times its normal number of building permits. The district issued 1,081 building permits in the past 12 months.

On Monday night, council approved permits for a 12-unit townhome complex at 3861 Cadboro Bay Rd. and approved subdivision of a single-family lot on Catalina Terrace to add two new single-family homes to the lot.

Graph. Karen Harper said it’s clear the county needs more diverse housing than it currently has. “We need more apartment buildings, we need more apartments, we need more apartments and we need more affordable housing,” she said.

Murdoch said Saanich is still trying to catch up after years of not getting approval to build enough housing despite population growth.

Over the past five years, the county has averaged fewer than 400 housing units added per year — a low of 191 in 2021 — even though 620 housing units were built in 2019.

“It was slower than it should have been – it couldn’t keep up with demand. This has had a significant impact on housing costs and affordability,” Murdoch said. “And clearly there is a lot of work to be done to catch up and begin to meet the demand that exists.”

The report outlines 20 steps the county has taken since 2020 to address housing needs, including new zoning to support development, tax incentives to encourage affordable housing, streamlining processes and creating a process to speed up construction of non-market housing.

Murdoch said “early indicators” show the changes are helping. “It’s not enough to meet the need yet, but I think it gives us an opportunity for long-term success.”

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