Housing ministers from federal, provincial and territorial governments have agreed to a renewed collaboration to tackle housing issues across Canada.

The officials met this week in Victoria, BC and discussed the development of a National Housing Strategy and agreed that a long term vision is essential for meeting the housing needs of Canadians, although a national plan is not certain to be implemented as there was some reluctance.

“While it shares a number of objectives with the other governments in the area of housing, the province of Quebec indicated that it did not intend at this stage to sign on to a National Housing Strategy, but would participate in working toward the development of such a strategy with a view to sharing information,” said BC housing minister Rich Coleman.

The key objectives of the plan are: to recognize and respect each other's specific roles and responsibilities; build upon and complement provincial and territorial strategies; and recognize that flexibility and sustainability are required to address varied housing challenges, including those facing Indigenous people and Canada's North.

Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate

More market watch: