Yesterday, Rentals.ca released a report indicating that rental asking prices in British Columbia are down 8.5% over the past two years, and 5.5% in the past year alone. Vancouver led with largest drop in the country at 16.9% in the past two years and 8.2% in the past year. Vancouver is at a 41-month low and one bedrooms are down $500 a month since 2023. The report is available here: https://rentals.ca/national-rent-report

Data taken from the latest provincewide homeless counts indicates that homelessness continues to affect people throughout British Columbia, including youth, families, seniors and individuals from all backgrounds. 

More local governments will receive support to help them break down barriers and create more efficient approvals processes that will help B.C. to deliver more homes quicker.

Children and families throughout B.C. will keep building stronger futures through reading and everyday learning with continued support for literacy programs.

More people will be able to stay in an affordable home near their jobs, schools and loved ones as the Province ties the annual allowable rent increase to inflation at 2.3% in 2026, down from 3% in 2025.

The Province has set new housing targets for a fourth group of municipalities, bringing thousands of new homes to communities throughout B.C.

Ministerial directives have been issued to the districts of Oak Bay and West Vancouver to continue helping the communities improve local processes and build more homes people need.

Municipalities throughout B.C. will now have quicker access to financing to deliver capital projects, such as infrastructure or amenities, thanks to changes in provincial borrowing regulations.

Non-profit and municipal housing providers can apply for more than $775 million in total funding to deliver more than 4,600 rental homes through the latest intake of the Building BC: Community Housing Fund.