Real estate industry hopes Liberal government steps up its game

The real estate industry in Vancouver is sending a clear message: it wants the Liberal federal government to step up its game. After a rough stretch for the housing market—driven by the disappearance of foreign money and persistent high interest rates—builders and agents are warning that without strong policy action, the situation could worsen.

Industry leaders highlight the need for certainty. Interest rates remain high and global trade tensions add volatility, particularly for developers dealing with unpredictable material costs. Buyers and builders alike are waiting for solid policy direction before committing to long-term projects.

The Liberals have made public promises to boost housing supply by doubling construction to 500,000 homes per year over the next decade. They’ve also pledged to eliminate GST on homes under \$1 million for first-time buyers, reduce development charges by half, and reinstate tax benefits for rental construction—moves aimed at making housing more affordable and stimulating private investment.

While those ideas offer hope, experts warn these measures may fall short. Even reaching 400,000 housing completions per year—rather than 500,000—would be a significant challenge given current workforce and productivity constraints. Canada has not built more than 260,000 homes in a year since the mid‑1970s, so ramping up will require major changes in how homes are designed, approved, and constructed.

Real estate professionals want the government to do more than announce targets. They urge action on cutting red tape, simplifying taxes, fast‑tracking permits, and offering incentives that truly attract private investment. Without real progress on these fronts, they worry private capital—and foreign investment—might flee to other countries.

In B.C. in particular, local developers want the Liberals to pay attention to the urgent housing needs facing communities west of Ottawa. Industry leaders say they are ready to partner with government—but they need concrete support, not just slogans—to bring projects to life and restore confidence to the housing sector.