Vancouver real estate: Empty homes report presented at council

A report on empty homes in Vancouver is being presented at city council this morning.

• UPDATE: Vacant home rate flat since 2002, says city report

The city and policy analysts havelong argued more data is needed to determine the cause of the region's hot housing market an argument the provincial governmentrecently saiditagrees with.

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The report on Vacant Housing Units Research is being presented at council byMattBourke, a housing plannerwith the city,andBruce Townson, CEO ofEcotagious, a company that analyzeshome energy use.

The city's chief housing officer, Mukhtar Latif, has previously said that BC Hydro usage data could be examined to determine which homes are sitting empty. However,he also warned there could be many reasons why homes areunoccupied.

Empty home tax?

But whilethe city may beconsidering taxing empty homes,B.C. Housing Minister Rich Coleman says an automatic tax for empty homes isn't appropriate.

He noted three houses on his street in Langley are empty all winter because their owners are "snowbirds" who go south for five or six months.

"The argument on one side is they are still paying taxes without receiving the services and getting a homeowners grant," said Coleman.

NDP housing critic David Eby says there are changes theprovincecould implement now to help soften housing prices.

"There aresolutionsout there that are being put forward by very smart people, andunfortunatelythere is still a debate happening about whether properties arebeingused as investments," he said.

Coleman said the B.C. government will look at the city's report and other information before making any policy changes.

Eby said he expects the province will take at least a year analysing data before making a move.