“This down-payment support from the provincial government is a great start. With applications for the program starting in January, what a way to ring in 2017 for first-time homebuyers,” says UDI President & CEO Anne McMullin.
She added that people need more choice, not just condo towers and single-family homes. Three-bedroom townhomes and duplexes are two of the options that are required to meet demand.
“We all have to share in that responsibility and partner with all levels of government, housing providers and rental agencies to build these faster so people can purchase their own homes with this new provincial program,” McMullin urged.
More market update:
The Urban Development Institute’s Pacific Region has welcomed the BC government’s new loan program for first-time buyers but says the mix of available housing must also be addressed.