Minister’s statement on September 2026 rental report

Source: British Columbia - Government News
Date: 2026-09-09 20:03:00.0
Tags: [British Columbia, Housing, Affordability, Economy]

According to a Rentals.ca report cited by the Ministry of Housing and Municipal Affairs, average asking rents in British Columbia decreased by 4.7% overall year over year, marking 26 consecutive months of rent declines. Specific municipal purpose-built rental decreases included Abbotsford at -10.5%, Coquitlam at -6.8%, Richmond at -6.2%, and Kelowna at -5.2%, while Vancouver purpose-built rents dropped 19% from their July 2023 peak. Minister Christine Boyle attributed the downward trend to provincial housing policies such as the speculation and vacancy tax and rent-increase caps linked to inflation, which was set at 2.2% for 2027. Recent housing developments highlighted by the ministry include 20 on-reserve rental homes for Lake Babine Nation in Tachet and Wit'At, nearly 120 rental homes planned for Vancouver's Downtown Eastside, 20 complex care housing units at 1102 Glenfair Dr. in Kamloops, and 50 units of recovery-oriented housing at 250 Bryden St. in Nanaimo.