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All About The Secondary Suite Incentive Program
For those of you wanting to contribute to more affordable housing in your communities, a new incentive program will help you do just that.
BC Housing just announced that as of April 2024, homeowners will be able to apply for the Secondary Suite Incentive Program (SSIP). This helps to ease the financial burden of building a secondary suite as long as homeowners rent it out for below market value.
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Vancouver Island Real Estate Board
Housing Market Shifts to Multi-Family Properties in September
Sales of single-family homes in September were virtually flat year over year but dipped by 16 per cent from August. However, apartment and townhouse sales rose by 15 per cent and 11 per cent year over year, respectively.
Last month, 345 single-family homes sold on the Multiple Listing Service® (MLS®) System compared to 413 the previous month and 347 in September 2018. In the apartment category, 85 units sold last month, while 51 townhouses changed hands in September.
In the VIREB area, inventory of single-family homes in September rose by 14 per cent from one year ago (1,283 to 1,466). Active listings of apartments increased by 43 per cent (293 to 419) year over year while townhouse inventory dropped by 18 per cent (171 to 140).
