Majorities are in favour of new rules related to short-term rentals, as well as the extension of the federal foreign ownership ban.
Vancouver, BC [February 28, 2024] – Two measures recently implemented by the provincial government to deal with short-term rentals are supported by most of the province’s residents, a new Research Co. poll has found.
In the online survey of a representative provincial sample, 69% of British Columbians agree with raising the fines for short-term rental hosts who break local municipal by-laws to $3,000 per day per infraction.
Just under three-in-five British Columbians (58%) are in favour of banning homeowners from operating a short-term rental business unless it is located on their principal residence and/or on a different unit on their property.
Two thirds of British Columbians (66%) agree with the decision to cap rent increases in 2024 at 3.5%—a proportion that rises to 74% among those who are currently renting their primary residence.
Majorities of British Columbians also agree with building more modular supportive homes in areas where people are experiencing homelessness (75%, down three points since a similar Research Co. poll conducted in January 2023), implementing a three-business-day protection period for financing and home inspections (69%, -2), ending most strata age restrictions (60%, -4) and removing strata rental restrictions (52%, -7).
More than two thirds of British Columbians continue to hold favourable views on three other policies: increasing the foreign buyers tax from 15% to 20% (74%, -3), expanding the foreign buyers tax to areas located outside of Metro Vancouver (71%, -4) and introducing a “speculation tax” in specific urban areas targeting foreign and domestic homeowners who pay little or no income tax in BC, and those who own second properties that aren’t long-term rentals (69%, -3).
More than three-in-five British Columbians are also in favour of the decisions to increase the property transfer tax from 3% to 5% for homes valued at more than $3 million (62%, -3) and to introduce a tax of 0.2% on the value of homes between $3 million and $4 million, and a tax rate of 0.4% on the portion of a home’s value that exceeds $4 million (also 62%, -4).
Across the province, 41% of British Columbians (-7) think the actions of the provincial government will be effective in making housing more affordable in British Columbia. Almost half (47%, +6) believe they will be ineffective.
More than two-in-five British Columbians “completely” or “moderately” trust the provincial government under the BC New Democratic Party (NDP) (46%, -3) and their municipal government (42%, -4) to deliver affordable housing in British Columbia. The rating is lower when residents ponder provincial administrations headed by the BC Greens (35%, -4), the Conservative Party of BC (32%) or BC United (29%, -4).
At the federal level, the level of confidence is the same for governments headed by the Liberal Party (35%, -2) and the Conservative Party (also 35%, +4), and higher for the NDP (40%, =).
As was the case last year trust is significantly higher for not-for-profit developers (49%, =) than for for-profit developers (22%, +1).
Seven-in-ten British Columbians (70%, -1) support the federal government’s decision to ban non-Canadians (with exclusions for international students and temporary residents) from purchasing residential property in Canada until 2027.
Almost two thirds of British Columbians (65%, +4) believe the federal government should tie immigration numbers to affordable housing targets and new housing starts.
“More than seven-in-ten British Columbians aged 55 and over (73%) want the federal and provincial governments to work together to ensure local residents and immigrants have a place to live in,” says Mario Canseco, President of Research Co. “Majorities of their counterparts aged 35-to-54 (59%) and aged 18-to-34 (65%) share the same view.”
Just over three-in-five British Columbians (62%, +2) think municipal governments should immediately dismantle any encampment or “tent city” located within their municipality. Support for this course of action is highest in the Fraser Valley (66%), followed by Vancouver Island (62%), Metro Vancouver (59%), Northern BC (57%) and Southern BC (51%).
Practically half of British Columbians (49%) think the provincial government was right to implement a $400 renters’ rebate for households earning up to $80,000 a year—a proportion that rises to 65% among renters.
Conversely only 29% of British Columbians—and just 20% of home owners—would like the provincial government to cancel the home owner grant, which reduces the amount of property tax people pay for their principal residence.
Methodology: Results are based on an online study conducted on February 8 to February 10, 2024, among 800 adults in British Columbia. The data has been statistically weighted according to Canadian census figures for age, gender and region in British Columbia. The margin of error—which measures sample variability—is +/- 3.5 percentage points, nineteen times out of twenty.
Find our data tables here and download the press release here.
For more information on this poll, please contact:
Mario Canseco, President, Research Co.
778.929.0490
[e] mario.canseco@researchco.ca