Single-family home ownership in Saanich is now “out of reach” for all household types, according to the district’s most recent housing needs report.
The report says the vast majority of households – from couples with children to couples without and singles — in Saanich are spending more than 30 per cent of their monthly income on housing of any type, and that all household types with a median income spend more than 50 per cent of their monthly income to own a single-family home.
The report notes that homeownership is likely out of reach for single-income households, which would need to spend half or more of their monthly income for most housing types.
The rental market is only slightly better, with Saanich’s rental vacancy rate still historically low and the pace of building not keeping up with demand.
The report is a bleak read, but Mayor Dean Murdock said it’s also a motivational tool that can drive the district to its housing goals.
“I don’t think any of this comes as a surprise, but it is certainly a sobering reminder of the very challenging state of our housing market and the work that lies ahead of us to ensure that there are places that everyone can afford in Saanich.”
The report says Saanich would need to build 7,683 new units before 2026 and 23,559 by 2041 to meet its anticipated housing need.
Right now the district has not even been able to meet the comparatively modest target of 440 units set by the province this year. It handed over occupancy permits for just 338 units between Oct. 1, 2023 and Sept. 30, 2024.
Murdock said Saanich will continue to eat away at the housing deficit.
“I would say my spirits are buoyed by the indicators of progress so far. While we’re off pace with the provincial target, we’re seeing a considerable increase in the number of development and building permits that are being reviewed and approved,” he said, adding a third of the permits issued were for non-market-rate projects.
Over the last year, Saanich has approved more than three times the normal number of building permits. In the last 12 months, the district issued 1,081 building permits.
On Monday night, council approved development permits for a 12-unit townhouse complex at 3861 Cadboro Bay Rd. and endorsed subdivision of a single-family lot on Catalina Terrace to add two new single-family homes to the site.
Coun. Karen Harper said it’s clear the district needs more diversity of housing than it currently has. “We need more multi-family, we need more apartments, we need more condos and we need more affordable housing,” she said.
Murdock said Saanich is still playing catch-up after years of not approving enough housing despite population growth.
The district averaged fewer than 400 housing units a year completed over the last five years — there was a low of 191 in 2021 — even with 620 units completed in 2019.
“It was slower than it needed to be — it wasn’t keeping up with the demand. That had a significant impact on the cost of housing and the availability of housing,” Murdock said. “And clearly there’s a lot of work to do to catch up and to start meeting the demand that exists.”
The report lays out 20 steps the district has taken since 2020 to tackle the housing need, including new zoning to support in-fill development, tax exemptions to incentivize affordable housing, streamlining processes and creating a process to expedite non-market housing.
Murdock said “early indicators” show the changes are helping. “It’s not enough yet to meet the need, but I think it does set us up for longer-term success.”
