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  January 2018

What's Coming in 2018

Looking forward, 2018 will be a significant year for housing affordability, real estate practice and cannabis regulation—three key issues for BCREA.

The provincial government has made housing affordability one of their top priorities, with the beginning of a housing strategy expected in the February 2018 budget.

In the 2017 election, the NDP promised to take action on speculation and foreign buyers, so the housing strategy will likely address those issues. BCREA has recommended ways to ensure renters, buyers and homeowners have access to appropriate and affordable housing options.

Regulations for the practice of real estate are also expected to change this year. In addition to changes affecting how real estate licensees represent consumers, which take effect March 15, the Office of the Superintendent of Real Estate (OSRE) is developing new policies for managing brokers and a regulatory code of ethics for all licensees. BCREA is working with member boards to gather evidence and supporting materials to inform the future changes.

Cannabis will be legalized and regulated across Canada this year, according the federal government's proposed plan. The BC government has been preparing by consulting with stakeholders and the public. The full results of this consultation are expected to be publicly available early in 2018, and legislative changes introduced in the spring session.

BCREA is concerned with personal cultivation of cannabis. If someone grows cannabis in their home, as with other types of drug production, electrical issues and mould can result, putting property and people at risk. There are currently no provincial standards for how to remediate a property after drugs have been produced onsite.

BCREA has commissioned research to identify how BC could implement a province-wide, consistent remediation process for properties used to produce drugs. Given that more people may grow cannabis at home in the near future, this study is incredibly timely.

To read more about BCREA's recommendations on housing affordability and drug operations, click here.

Click here to visit the BCREA Connections archive, available on BCREA Online.
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