UDI OKANAGAN – “WHAT YOU NEED TO KNOW” DEVELOPMENT INDUSTRY IN BC 2015 David Porte Chair of UDI Pacific Region President, Porte Development Corp.
UDI PACIFIC MEMBERSHIP 2013-PRESENT New Members since January 2013 Okanagan: 13 Fraser Valley: 22 Capital Region: 29 Vancouver: 46
UDI 2015 POLICY PRIORITIES • Community Amenity Contributions • Transit Plebiscite • Contaminated Sites • Housing Affordability
COMMUNITY AMENITY CONTRIBUTIONS Source: Province of BC
CONTAMINATED SITES Source: Getty Images
TRANSIT PLEBISCITE Do you support a new 0.5% Metro Vancouver Congestion Improvement Tax, to be dedicated to the Mayors’ Transportation and Transit Plan? Source: Mayors’ Council on Regional Transportation
HOUSING AFFORDABILITY – UDI RESEARCH UDI/VANCITY HOUSING AFFORDABILITY INDEX
BC POPULATION GROWTH Source: BC Stats
ANNUAL IMMIGRATION TO BC (1990 - 2016) Source: BC Stats
5-YEAR CANADIAN MORTGAGE RATES (1980-2014)
DOW JONES – 3 Year Chart Source: Bloomberg
OIL PRICES – 3 Year Chart Source: Bloomberg
GOLD – 3 Year Chart Source: Bloomberg
KELOWNA CMA RENTAL VACANCY RATES Source: CMHC Rental Market Report Kelowna CMA Fall 2014
KELOWNA OFFICE HISTORICAL PERFORMANCE Source: Colliers Kelowna Office Market Report Q3 2014
VANCOUVER CMA OFFICE HISTORICAL PERFORMANCE Source: Colliers Metro Vancouver Office Market Report Q4 2014
KELOWNA CMA MLS ANNUAL SALES VOLUME Source: Okanagan Mainline Real Estate Board (OMREB), CMHC Forecast
VANCOUVER CMA MLS ANNUAL SALES VOLUME Vancouver CMA MLS Sales 2004 - 2016F 45,000 40,000 35,000 30,000 25,000 20,000 15,000 10,000 5,000 0 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015F 2016F Source: CMHC Canadian Housing Observer 2014
KELOWNA CMA HOUSING STARTS Source: CMHC Starts and Completion Survey, Forecast
VANCOUVER CMA HOUSING STARTS Source: CMHC Housing Market Outlook Vancouver and Abbotsford CMAs, Fall 2014
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