Government’s Housing Taxes Remain Popular in British Columbia

Four-in-five residents endorse the increase in the foreign buyers tax, and more than two thirds agree with the “speculation tax.”.

Vancouver, BC [March 19, 2019] – Most British Columbians endorse the provincial government’s housing-related fiscal policies, a new Research Co. poll has found.

In the online survey of a representative provincial sample, 68% of residents agree with the implementation of 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.

In a survey conducted by Research Co. in June 2018, 62% of British Columbians called the “speculation tax” a “very good” or “good” idea.

“While some government policies tend to cause extraordinary differences between residents according to political allegiance, the ‘speculation tax’ is different,” says Mario Canseco, President of Research Co. “Those who agree with the ‘speculation tax’ include 82% of British Columbians who voted for the BC New Democratic Party (NDP) in the 2017 provincial election, 70% of those who voted for the Green Party and 55% of those who voted for the BC Liberals.”

Four-in-five British Columbians (80%) agree with the provincial government’s decision to increase the foreign buyers tax from 15% to 20%, and three-in-four (75%) agree with the decision to expand the foreign buyers tax to areas located outside of Metro Vancouver.

More than three-in-five British Columbians also agree with increasing the property transfer tax from 3% to 5% for homes valued at more than $3 million (64%) and introducing 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 (66%).

Across the province, 39% of residents think the actions of the provincial government will be “effective” in making housing more affordable in British Columbia, while almost half (47%) believe they will be “ineffective.”

Residents who voted for the BC NDP in the last provincial election (56%) are more likely to expect the hosing measures to be effective, while those who cast a ballot for the BC Liberals (64%) or the BC Greens (48%) are more likely to deem them as ”ineffective.”

Methodology:

Results are based on an online study conducted from March 8 to March 10, 2019, 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 full data set here and download the press release here. 

For more information on this poll, please contact:

Mario Canseco, President, Research Co.
[c] 778.929.0490
[e] mario.canseco@researchco.ca

Increasing Rental Stock a Priority for Metro Vancouverites

More than three-in-four believe Canada should consider banning most foreigners from purchasing real estate.

Vancouver, BC [November 26, 2018] – Many residents of Metro Vancouver believe more rental units should be made available in the next three years, a new Research Co. poll has found.

In the online survey of a representative sample of Metro Vancouverites, three-in-five (57%) think we need to build more rental units than we did over the three-year period that ended in 2017.

From 2015 to 2017, there were 75,000 new housing units built in Metro Vancouver. Approximately 23 per cent of them were for rental use.

One third of Metro Vancouverites (34%) would like to see more than 75,000 units built in the region over the next three years, while 27% would keep the same pace and 19% believe we should build less.

New Zealand recently passed legislation that bans most foreigners from purchasing real estate in the country. There are exceptions for foreigners who hold residency status in New Zealand, as well as citizens from Australia and Singapore, due to existing free-trade agreements.

Across Metro Vancouver, 77% of residents would support having similar legislation in Canada, that would ban most foreigners from purchasing real estate in the country.

“Metro Vancouverites are of three minds when assessing the current housing crisis,” says Mario Canseco, President of Research Co. “The most supported proposition is a ban on foreign owners, and while a majority would like to see an increase in rental properties, the appetite for increasing the pace of construction is not as high.”

Methodology:

Results are based on an online study conducted from November 24 to November 25, 2018, among 700 adults in Metro Vancouver. The data has been statistically weighted according to Canadian census figures for age, gender and region in Metro Vancouver. The margin of error— which measures sample variability—is +/- 3.7 percentage points, nineteen times out of twenty.

Find our full data set here and download the press release here. 

For more information on this poll, please contact:
Mario Canseco, President, Research Co.
[c] 778.929.0490
[e] mario.canseco@researchco.ca

Two-in-Five Canadians Say Their Home Heating Use Has Increased

Three-in-ten Canadians in a relationship say they change the temperature at home without telling their partner. 

Vancouver, BC [December 6, 2018] – A sizeable proportion of Canadians are relying more heavily on home heating this year, a new Research Co. poll has found.

In the online survey of a representative national sample, two-in-five Canadians (41%) say their energy and heating use at home has increased over the past few weeks—a proportion that reaches 46% in Atlantic Canada, and 43% in both Ontario and British Columbia.

Across the country, 9% of Canadians say they typically set their home heating at 18C or lower. Most residents select 19C or 20C (38%) and 21C or 22C (40%), while 6% set the thermostat at 23C or higher.

Respondents to this survey who are married or living with a significant other were asked who is in charge of setting the temperature at home. Two-in-five (40%) say they are solely responsible, while 18% say their spouse or partner takes care of this task, and 30% affirm that the decision is taken by both equally.

Women are more likely to say that the home thermostat is a joint responsibility (34%, compared to 25% for men), while men are more likely to say they are solely responsible for home heating settings at home (43%, compared to 38% for women).

Three-in-ten Canadians in a relationship (30%) admit that they change the temperature at home without telling their spouse or significant other “all of the time” (8%) or “most of the time” (22%), while just 19% say they have “never” done this.

“Women (35%) are more likely to acknowledge that they adjust the thermostat without telling their spouse or partner than men (25%),” says Mario Canseco, President of Research Co. “On a regional basis, Quebecers are more likely to say they would never change the settings without consulting first (35%), while British Columbians (8%) are the least likely to do so.”

Methodology:

Results are based on an online study conducted from November 26 to November 29, 2018, among 1,000 adults in Canada. The data has been statistically weighted according to Canadian census figures for age, gender and region. The margin of error—which measures sample variability—is +/- 3.1 percentage points, nineteen times out of twenty.

Find our full data set here and download the press release here. 

For more information on this poll, please contact:
Mario Canseco, President, Research Co.
[c] 778.929.0490
[e] mario.canseco@researchco.ca

British Columbians Worried About Real Estate Tax Expansion

Most residents think the provincial government will apply the additional school tax for properties valued at $1 million.

Vancouver, BC [November 22, 2018] – Many British Columbians are concerned about the possibility of a new tax on real estate being expanded to include lower priced properties, a new Research Co. poll conducted for STEPUP has found.

The provincial government introduced the additional school 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.

In the online survey of a representative sample of British Columbians, seven-in-ten residents (70%) think the provincial government will likely expand the additional school tax to properties valued from $2 million to $2.99 million.

A majority of residents (53%) think the provincial government will likely expand the additional school tax to properties valued from $1 million to $1.99 million, and two-in-five (42%) think the tax may be expanded to include all properties.

Three-in-five residents (61%) approve of an eventual expansion of the additional school tax to properties valued from $2 million to $2.99 million. However, 66% of home owners who reside in a property currently assessed at $2 million or more disapprove of this expansion.

Most residents (51%) disapprove of expanding the additional school tax to properties valued from $1 million to $1.99 million, and almost three-in-four residents (73%) disapprove of expanding the additional school tax to all properties.

“While two thirds of British Columbians (67%) approve of the additional school tax in its current form, support drops if it is applied to lower priced properties,” says Mario Canseco, President of Research Co. “Homeowners are decidedly opposed to the idea of the tax being expanded to include their places of residence.”

In addition, most British Columbians (57%) are not confident that the revenue generated by the additional school tax will be used to provide education in the province.

Almost half of British Columbians (46%) think provincial politicians have sought to divide over the past year, while more than a third (36%) think they have sought to unite.

A majority of BC New Democratic Party (NDP) voters in the last provincial election (56%) think politicians have sought to unite, while seven-in-ten BC Liberal voters (70%) think they have sought to divide.

Methodology:

Results are based on an online study conducted from September 2 to September 5, 2018, 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 full data set here and download the press release here. 

Photo Credit: Larry LaRose

For more information on this poll, please contact:
Mario Canseco, President, Research Co.
[c] 778.929.0490
[e] mario.canseco@researchco.ca

British Columbians Support Government’s Housing Measures

The opposition’s idea of a “Strata Pre-Sale Contract Flipping Tax” is backed by two thirds of residents.

Vancouver, BC [June 5, 2018] – A sizeable majority of British Columbians are in favour of specific housing measures announced by the provincial government in this year’s budget, a new Research Co. poll has found.

In the online survey of a representative sample of British Columbians, three-in-five respondents (62%) think introducing a “speculation tax” of 2% of a property’s assessed value for vacant homes is a “very good” or “good” idea.

Two thirds of residents (67%) believe introducing a tax of 0.2 per cent on the value of homes worth between $3 million and $4 million, and a tax rate of 0.4 per cent on the portion of a home’s value that exceeds $4 million is also a “very good” or “good” idea.

A slightly higher proportion of British Columbians (69%) think increasing the property transfer tax from 3% to 5% for homes valued at more than $3 million is also a “very good” or “good” idea.

Three-in-four British Columbians (76%) say it was a “very good” or “good” idea to expand the foreign buyers tax to areas located outside of Metro Vancouver, and four-in-five (80%) feel the same way about increasing the foreign buyers tax from 15% to 20%.

The opposition BC Liberals have tabled the “Strata Pre-Sale Contract Flipping Tax Act 2018”, which calls for a provincial capital-gains tax on any profit from the sale of housing units before construction is completed. Almost two thirds of British Columbians (65%) think this is a “very good” or “good idea”.

Most residents who voted for the BC Liberals in last year’s provincial election are supportive of the current government’s measures, from a low of 53% for the “speculation tax” to a high of 77% for increasing the foreign buyers tax.

In addition, most residents who voted for the BC New Democratic Party (NDP) and the BC Green Party in the 2017 provincial ballot are in favour of the opposition’s pre-sale contract flipping proposal (62% and 73% respectively).

“In spite of some localized protests, the government’s housing measures are particularly popular with British Columbians,” says Mario Canseco, President at Research Co. “Support for these guidelines, as well as the recent proposal from the BC Liberals to address condo-flipping, is strong among all age groups and voters of the three main political parties.”

Methodology:
Results are based on an online study conducted from May 27 to May 29, 2018, 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 full data set here and download the press release here. 

For more information on this poll, please contact:
Mario Canseco, President, Research Co.
[c] 778.929.0490
[e] mario.canseco@researchco.ca