Fraser Valley Real Estate Board releases report urging governments to embrace modular housing

ABBOTSFORD — The Fraser Valley Real Estate Board (FVREB) believes prefabricated and modular housing could be the key to solving the housing crisis in British Columbia. It’s calling on all levels of government to develop a coordinated building strategy around factory-built houses.

FVREB released its report titled Building Faster, Smarter, the board provides nine policy recommendations to accelerate housing production. The report states prefabricated homes can be built in half the time of traditional methods while reducing construction waste by up to 70 per cent and on-site emissions by more than 40 per cent when compared to traditional methods.

The report states examples in Sweden and Germany prove prefabricated construction can deliver affordable homes quickly. It says it’s time for Canada to adopt the method.

“At FVREB, we believe prefabricated and modular construction represent one of the practical and innovative ways forward — one that can deliver more homes quickly, sustainably, and at prices within reach,” said Baldev Gill, CEO of FVREB. “We look forward to working with governments and industry partners to bring these recommendations to life.”

The report says it will be important for municipalities to harmonize their municipal zoning bylaws to allow for homes to be built efficiently. It also urges the province to establish a procurement plan to ensure long-term demand. And it says CMHC should develop a lending model for modular projects.

The report comes as the modular housing sector grows globally. Industry experts project Canada’s prefabricated construction output will climb to $22.8 billion by 2028.

The Fraser Valley Real Estate Board represents more than 5,100 real estate professionals across Abbotsford, Mission, Langley, Surrey, North Delta, and White Rock.