Build It And They Will Come

Posted by Patrick Matiowski 
 

Bob de Wit, CEO of the Greater Vancouver Home Builders Association presented to the Rotary Club of Langley Sunrise.

The Association represents 750 building, renovation and supply companies in the Lower Mainland.  Global uncertainty is affecting the market but sales are increasing once again.

Ther club learned that renovation projects are more significant to the economy than new home construction.  The industry has been measured as $7.7 billion.  1/2 of this total is through do-it yourselfers.

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Condo sales are down by 50% and homes sales at the high end of the market are sluggish.  20% of the cost of new homes are attributable to taxes and community amenity charges.