On Thursday, Nov. 6, 2025, Rentals.ca released a report indicating that rental asking prices in British Columbia lead the country in declines, down 9.6% over the past two years and 5.8% in the past year alone. Vancouver reached a 43-month low in October 2025, falling 11.4% over the past three years and declining on an annual basis for a 23rd consecutive month. In Surrey, the asking rent for a one bedroom compared to this time last year is down 12%.

The report is available here: https://rentals.ca/national-rent-report

Christine Boyle, Minister of Housing and Municipal Affairs, has issued the following statement regarding the report:

“This report continues to show that our work to increase rental homes and crack down on speculation is having an impact, with vacancy rates rising and asking rents consistently dropping.

“Last month, we highlighted our record high number of rental housing registrations over the past three years, and how we’ve cut red tape to allow more duplexes, triplexes and townhomes.

“Our efforts to fight speculation and return short-term rentals back to the market as long-term, sustainable housing remains a key part of our strategy, as well as preserving affordable rental supply through the Rental Protection Fund.

“We can’t go back to the way things were, where speculation was causing housing prices to skyrocket.   

“There is so much more do to address housing costs for people, and I look forward to more groundbreakings and openings of affordable homes across our province.”