Sustaining the Future: The Growth of Green Frontlines

Home Prices Forecast to Keep Rising in B.C.

A report by the Credit Union Central of British Columbia (CUCBC) predicts housing prices will continue to rise by as much as 10 per cent this year and as much as seven per cent in 2009.

The report predicts that in 2009 multi-family units such as condos and town homes could exceed single-family homes in B.C. The report predicts that in 2009, multi-family units such as condos and town homes could exceed single-family homes in B.C.

Lower mortgage rates, a tight labour market, high income growth and rising in-migration all point to continued high sales volumes and price rises, according the CUCBC's chief economist Helmut Pastrick.

The Economic Analysis of British Columbia released March 17 says the current housing boom is unlike previous market cycles that ended with a large oversupply of homes, causing a sharp drop in prices.

In the current market, sales have reached a plateau and the supply of houses is only gradually catching up with demand. And with the recent drop in mortgage rates, the CUCBC expects the number of home sales will pick up once again.

The report says while Vancouver and Victoria set the tone for the B.C. market, prices in areas such as Kamloops, the Kootenays, the Okanagan, and Vancouver Island are forecast to rise as much as 15 per cent, while northern, lumber-dependent communities will have weaker markets.

The high cost of single-family houses for low-income families is restricting the volume of sales in that market, but it is also creating a shift toward more condominium units, said the report.

As a result, in 2009 for the first time, sales of multi-family units such as condominiums and town homes could exceed those of single-family homes in B.C.

Tenants can expect rents to rise three per cent and rental vacancy rates to drop as low as 0.5 per cent as in-migration continues and fewer renters are able to afford their own homes, says the report.

Despite the growing number of small investors buying into the condominium market, the "flip rate" - selling a property within three months of buying - remains below two per cent.

Credit Union Central of British Columbia

Home Starts Increase Across Canada in 2008 Due to Condo Sales

"New home construction in February was boosted by the significant rise in multiple-family starts," says Bob Dugan, chief economist at CMHC's Market Analysis Centre. "The robust results achieved in February were mainly attributed to increased condominium starts, which reflect strong condominium sales over the past year or two. Despite this sizable growth in February, we continue to expect that the trend in housing starts will decrease gradually between now and the end of 2008."

In February the seasonally adjusted annual rate of urban starts increased 18.0percent to 223,700 units compared to January. Urban multiples jumped 30.3percent to 140,700 units in February, while singles rose 1.8percent to 83,000 units.

The seasonally adjusted annual rate of urban starts increased in four of Canada's five regions in February. Urban starts registered an increase of 45.2percent in British Columbia, 26.2percent in Quebec, 16.9percent in the Atlantic region and 16.4percent in Ontario. The Prairies bucked the trend and registered a decline of 9.6percent in February. Urban multiple starts were up in all regions except in the Atlantic and the Prairies. Urban singles were up in all regions except British Columbia and the Prairies.

Rural starts were estimated at a seasonally adjusted annual rate of 33,200 units in February.

Actual starts, in rural and urban areas combined, were up an estimated 8.1percent in the first two months of 2008 compared to the same period in 2007. In urban areas, actual total starts increased by an estimated 10.4percent year-to-date. Actual urban single starts from January to February 2008 were down 11.0percent compared to the same period in 2007, while multiple starts grew by approxi mately 25.9percent over the same period.

Canadian Housing and Mortgage Corporation

Home Sales: Central Okanagan Market Trending Towards More Balance

The Central Zone of OMREB covers an area from Peachland to Lake Country and east along Highway 33 to Westbridge including the Christian Valley.

"While comparisons to last year at this time indicate less sales activity, sales in February picked up from a cold January," says Brenda Moshansky, OMREB director and realtor in the Central Zone.

"It is still early in the season and the residential market activity will begin to pick up its pace over the next two months giving us an awareness of any trends. Provincially, a combination of fewer home sales and an increase in active listings is pulling the B.C. housing market towards more balanced conditions, and this also means upward pressure on home prices is less severe than a year ago.

"However, in our marketplace, we outpaced the provincial trends for sales and increased prices due to strong buyer demand. Last year, we were expecting to follow the provincial trends, and that did not happen. In the coming months, listings and sales activity will provide some further insight."

Okanagan Mainline Real Estate Board

Home for Learning: School District and College Partner in "Constructive" Education

The Residential Construction program is a joint undertaking by Okanagan College and School District No. 23. This career training program allows students to complete their Grade 12 diploma as they gain marketable skills and level 1 technical credit towards their apprenticeship.

Students take regular high school courses from September to January and then begin the construction project. Students receive instruction from January to March with Bob Boback, a Rutland Senior Secondary teacher and Red Seal carpenter with extensive construction experience.On-site work takes place from March to July. Once the project is complete, students have the opportunity to attain the last three levels of technical certification at Okanagan College. This college training is supported by School District No. 23 through scholarships and bursaries.

"The dual-credit Residential Construction program is something we are very proud to be able to offer our students," says Moyra Baxter, chairperson of the Board of Education. "It is a wonderful chance for them to explore career interests and gain practical job skills."

"Through innovative programs such as the Home for Learning and with a strong partnership between Okanagan College and School District 23, we are able to provide a diverse range of programming to address the changing needs of our students," says Jim Hamilton, president of Okanagan College. "The College is a proud supporter of Rutland Senior Secondary's residential construction program and we are pleased to be able to offer first year training credit from our institution to the participating high school apprentices."

Eric Dack, a Grade 12 student and a participant in the first construction project in 2007 was very happy with the experience: "It was amazing that we could build a house in school. I will do my second year and carry on to get my apprenticeship in carpentry."

"I thought it was really good, as I got to do hands-on and actually build a house," says Charlotte MacBeth, another former participant and a Grade 12 student. "I might take carpentry at Okanagan College."

The property for this year's project was purchased in December 2007 and architectural plans were recently finalized. The two-storey, 2400-square foot home will have four bedrooms and three bathrooms.

Program organizers gratefully acknowledge the invaluable assistance of community businesses that contribute materials and expertise.

Okanagan College

"Green" Light: Federal Government Invests in Kelowna Solar Lighting Project

"Our government is pleased to support this innovative solar-powered technology project and its potential to benefit communities across Canada and around the world" said Minister Lunn at the Globe 2008 conference in Vancouver. "By working in partnership with industry and communities, Canada can lead the way in reducing energy costs, increasing the use of clean energy and creating a healthier environment for Canadians."

The one-year project, developed by Carmanah Technologies Corporation of Victoria, B.C., will install a network of 100 self-contained solar power systems to light public spaces in Kelowna, including parks, pedestrian and bike trails, accent lighting, and security and safety lighting.

The Canadian government contributed $500,000 to this project through Natural Resources Canada, including $20,000 of in-kind support from NRCan's CANMET Energy Technology Centre.

"We're thrilled to be a partner in this pilot project that showcases responsible energy management," says Kelowna Mayor Sharon Shepherd. "Sunlight is true 'local' energy and doesn't have to be explored, mined, extracted, transported, combusted, imported or purchased making it the ultimate eco-friendly source of power."

Kelowna's topography allows it to receive sunshine during much of the day and in every season. In fact, on average, Kelowna receives more than 2000 hours of sunshine a year, making it an ideal location to demonstrate the potential of Carmanah's EverGEN lighting system.

According to Philippe Favreau, COO of Vancouver Island-based Carmanah Technologies, Kelowna's community-wide deployment of solar-powered area lights reflects a global shift towards environmentally friendly lighting alternatives.

"We're very pleased to be a part of this exciting solar initiative," says Favreau. "It's great to see such a commitment to renewable energy technology, both on a national level and locally, right here in our home province of British Columbia."

The Government of Canada's support for this project is part of a commitment to help Canadians reduce energy costs and be energy-efficient. As part of its comprehensive ecoACTION plan, the government is investing $3.6 billion in ecoENERGY initiatives to help Canadians use energy more efficiently, boost renewable energy supplies and develop cleaner energy technologies.

City of Kelowna

Greenhouse Gas Gone: Government Delivers Details of Regulatory Reduction Framework

"Last April, this government made a commitment to Canadians to cut our greenhouse gas emissions an absolute 20% by 2020," said Canada's Environment Minister John Baird. "...We are announcing the details of those tough measures that will put us on a path to meet our commitments.

"Our regulations will apply to all big industry. "From the oil industry to chemical companies; from smelters to pulp and paper mills, all big industry will have to do their part."

In order to refine and improve the regulatory approach, the government consulted extensively with environmental groups, industry and other stakeholders over the past year. This period of consultation was important to ensure Canada's regulations would result in real reductions of greenhouse gases. The Government worked to accommodate stakeholder views where reasonable, but remained focused on the primary objective of keeping its commitment.

As announced last April, regulated industries will face mandatory reductions that require companies to reduce emissions 18 % by 2010 for every unit of production. The details published specify how the targets will apply to each industry sector, how the offsets and trading systems will work and how credits will be provided to companies that took early actions to reduce their emissions.

Addressing industrial emissions is just one part of the government's plan to reduce greenhouse gases and air pollution. With a long-term goal that envisions greenhouse gas emission reductions of 60 to 70% by 2050, Turning the Corner will continue to evolve as new technology and new ways of improving our environment are discovered.

Government of Canada

Green Spaces Good for People, Urban Areas, and the Environment

Healthy green spaces clean the air by neutralizing pollutants and trapping dirt, dust, and other airborne articles; provide shade and lower temperatures in urban areas; reduce noise levels; diminish soil erosion and flooding by absorbing rainwater; and recharge groundwater supply by reducing run-off to impermeable surfaces.

Imagine a neighborhood completely devoid of green - it's not a pretty picture. It is very easy to take the importance of healthy green spaces for granted. Yet, they contribute to quality of life in many ways, including providing a soft landscape for recreation and physical fitness; relaxation from the stresses of work; privacy and tranquility; they increase community appeal; and create a better, safer environment. Green spaces are gathering places that create close-knit communities and improve well-being, and studies have shown that when green spaces are promoted there is a definite increase in self esteem and a decrease in vandalism.

Healthy green spaces also have economic benefits. They improve property value; boost energy efficiency; and renew business and residential districts. The environmental horticulture industry also contributes significantly to personal income and job growth in local and regional economies.

Far more than just lawns and landscapes, sports turf and golf courses, parks and recreational areas, well-maintained, healthy green spaces have a positive impact on our lives and ensure a healthy and green future for all of us.

Copyright © 2008 Wheat King Publishing and the authors. All rights reserved. No part of this publication may be copied or reprinted without the written consent of the publisher. The opinions expressed in Okanagan Home are those of the writers and editors, and do not represent the official position of the Canadian Home Builders' Association, Central Okanagan, or of its members.