June is here and so too, if you’re a fan of warm sunny days, is the good weather. For my boys and my wife, June represents the final stretch of the school year and the anticipation of a summer of fun ahead. This month will undoubtedly be a busy one. One of our boys turns thirteen and will be entering highschool in the fall and our oldest of the four will be graduating from highschool later this month.
Without question these events will be emotion filled. They will be celebratory milestones that will serve to highlight the efforts and accomplishments of our boys and will remind my wife and I just how precious and fleeting life can be. In addition to these events, there are a couple of birthdays, father’s day, multiple sports days and field trips, after school sports, and so much more on the family calendar, and, of course, I’m looking forward to it all.
In real estate news, there were likely many people looking forward to the Bank of Canada’s rate announcement on June 4th – hoping for a rate drop, but news of another rate hold likely tempered that enthusiasm. The next rate announcement is scheduled for July 30th. If you’re considering a move or refinance and would like to speak with someone about interest rates, mortgages, and financing options, please let me know and I’m happy to refer you to one of my trusted mortgage professionals.
Housing activity in the Fraser Valley remains relatively slow – keeping buyers firmly in the driver’s seat – at least for now; however, as we know markets shift all the time, so no seat is necessarily comfortable for long. That said, the news for first time home buyers in Canada has gotten even better with the Federal Government’s recent changes to the GST rebate on new home purchases.
According to the Government of Canada website, in an effort “to lower the upfront cost of buying a new home for young Canadians and spur the construction of new homes across the country, the government is eliminating the Goods and Services Tax (GST) for first-time home buyers on new homes up to $1 million and reducing the GST for first-time home buyers on new homes between $1 million and $1.5 million. To be eligible for this rebate, an individual must be a minimum of 18 years of age, be either a Canadian citizen or a permanent resident of Canada, and not have lived in a home, whether in or outside Canada, that they owned or that their spouse or common-law partner owned in the calendar or the four preceding calendar years. T
here are other details surrounding this rebate that are important to understand, so for those of you with young Canadians in your network of friends of family, who are considering a purchase, please have them reach out to me, so that they receive the information they need to make the most informed decision possible. I am currently making decisions with my own family with this new legislation now in effect to take advantage of the opportunity it represents. If you’d like to hear more about my investment plans, please reach out. I see this is a unique opportunity for first time home buyers to get in the market and I’d love to chat with as many people as possible regarding this topic. To that end, I will be making myself available for complimentary 1-on-1 or group Zoom Q & A information sessions, during the months of July and August of this year.
These information sessions can be booked my emailing, texting, or calling me directly and requesting a conversation. The duration of each session is flexible depending on the individual or group’s questions and objectives and our mutual availability. These will be high value sessions, and I strongly encourage people to reach out if this is of interest. If you’d like to register for a session, please email me at caseyduncan@macrealty.com In keeping with the topic of Federal Government initiatives, much mention has been made during the Liberal campaign around prefabricated housing. For those unfamiliar with what this type of housing is and how it may be used to benefit Canadians, I’ve included an article below from a recent BC Real Estate Association publication on the topic written by Mark Sakai.
“In its throne speech on Tuesday, May 27, 2025, the new federal government confirmed a policy promise from the Liberal Party election campaign: the creation of a major initiative to expand the capacity of Canada’s prefabricated housing sector. Backed by $25 billion, the “Build Canada Homes” program intends to fund innovation and capacity building in this sector. The prefabrication of key building components for assembly at the construction site has the potential to significantly reduce the cost, time requirement, and construction waste of new housing, as well as increase sustainability.
Read on for a breakdown of this rapidly rising sector.
What is Prefabricated Housing?
Not all prefabricated housing or offsite construction options are the same. That makes it important to distinguish between the different types of products and approaches. Here are the two most common:
- “Panelization” is the most basic form, where individual wall, floor, and ceiling panels can be built in a factory and flat-shipped to a site, where they are craned in place and secured. Many builders in BC already use this process.
- “Modular” or “volumetric” construction is the production of modules, which can be anything from individual rooms to entire housing units. These are created in a factory, shipped to the site, and assembled “LEGO-block style.”
In a typical year, BC’s prefabricated housing factories produce about five per cent of the province’s homes. But these facilities are currently operating at a fraction of their capacity, meaning they can produce far more than they do now.
According to Modular BC – an organization dedicated to expanding the overall factory-built home sector in the province – the sector eventually hopes to produce 25 per cent of BC’s housing. That figure seems achievable given the current excess capacity, and the plans of the federal and provincial governments to support expansion.
Government Interest
Build Canada Homes plans to invest in prefabricated home producers to help them automate more of their production lines and hire workers for additional shifts. The program also intends to place bulk orders with manufacturers to enable more consistent production runs and keep staff employed during traditional downtimes.
The provincial government has signalled its support as well. During the fall 2024 election campaign, Premier David Eby announced his intention to “fast track” the growth of the sector to build homes quickly and affordably while creating jobs.
Other Benefits
By building in an environmentally controlled facility, manufacturers can maintain high quality while avoiding the exposure to rain and snow moisture that can plague a traditional construction site. The use of quality-control checks at every step of the production process ensures each home meets building code and energy efficiency standards. Indeed, many units being produced today already meet Energy Step Code 4 levels.
New standardized plans for four- and six-plexes, when combined with the Bill 44 Small Scale MultiUnit Housing zoning policy, will create the opportunity to quickly and economically bring this type of ground-oriented housing to cities and towns around the province.
Offsite Construction Challenges
Not to say that the rapid uptake of prefabricated homes is without its challenges.
Local governments must embrace plan approval and inspection processes of these homes to ensure that they can be built and installed in a timely manner. To that end, Modular BC has created checklists for building officials at the planning and inspection stages.
Two other concerns are financing and capacity for housing module transportation. For the former, the sector has engaged the Canadian Mortgage and Housing Corporation to assist with updating high-ratio financing procedures. For the latter, the Ministry of Transportation and local governments will need to streamline approvals for very large loads.
Finally, and perhaps most importantly, the home buying (and renting) public will need to shift their
perception of prefabricated housing.
Structures built using offsite construction methods aren’t just for mining camps, trailers, and temporary shelters anymore (though they still hold tremendous value in these sectors). They are high-quality, energy-efficient, cost-effective, and customizable – making them a perfect fit for many buyers and renters in BC.
There will always be a market for on-site stick-frame construction for custom housing, challenging sites, and high-end clients, but for a significant portion of the market, prefabricated homes will be a big part of BC’s housing supply solution.”
Should you have any questions about this article or any other real estate related matter, please
reach out. I’m happy to connect with you.
FATHER’S DAY GIVEAWAY:
In an effort to support local business and give back to this e-newsletter community, I will be giving away a $25-dollar gift card to Iron Butcher. Whenever I’m in Maple Ridge, this butcher shop is a “must stop” location for me. The owner, Mike, is an awesome guy and the quality of meat at his butcher shop is the best around. To enter, please email your best Dad joke prior to July 1st. All entries will be placed in a random draw with the winner announced in next month’s newsletter.
A LITTLE HUMOUR:
In honour of father’s day, here’s a Dad joke for you:
Q: “’Dad, did you get a haircut?’.
A: ‘No, I got them all cut!'”
Wishing you a Happy Father’s Day, a Happy Canada Day, and a terrific start to your summer!