David’s Real Estate Blog
Drawing on nearly 30 years of experience in Greater Vancouver and the Fraser Valley, I share the market insights, strategies, and local knowledge you need to make your next move with confidence.
David’s Real Estate Blog
Drawing on nearly 30 years of experience in Greater Vancouver and the Fraser Valley, I share the market insights, strategies, and local knowledge you need to make your next move with confidence.
Vancouver approved more than 12,500 new homes last year, but fell short of social housing target
Vancouver approved over 12,500 new housing units in 2025, surpassing its target of 8,300 and provincial requirements. Most approvals were rental units, totaling 10,277, well above targets, while condo approvals lagged at 901 units. Below-market social housing approvals were below target, with only 719 units approved. Over 3,000 rental and social housing units were completed, marking the best rental housing year in 40 years. Economic uncertainty poses challenges for sustaining construction.
Outdated Home Trends Turning Buyers Off
Wall-to-wall carpet feels dated; buyers prefer hardwood or luxury vinyl planks.
Bold paint, especially red or lime green, can block buyers from imagining themselves.
Tile countertops look retro; grout stains easily and needs frequent cleaning, resealing.
In 2026, granite reads outdated; quartz, marble, soapstone often win on care.
Privacy trend grows: ~50% want closed layouts; formal dining rooms shift to flex.
West Vancouver Market Update
Here’s a quick update on West Vancouver’s real estate market. Homes are taking a bit longer to sell, and the number of available listings is stable. Fewer homes are changing hands than last year.
Renters Benefit as Asking Rents Become More Affordable Nationwide
Average asking rents in Canada dropped 5.3% in March, marking the largest decline in nearly five years and the 18th consecutive year-over-year decrease. Rents averaged $2,008, down 1.1% from February. Higher vacancy rates and economic uncertainty have shifted the market in renters' favor, with landlords offering incentives. Vacancy rates may exceed 3% in 2026, the first time in a decade. Rent declines were steepest in B.C. and Alberta, while some provinces saw rent increases.
Feds Invest $1.7B in Home Construction
Federal proposal adds $1.7B, no strings, to speed housing construction nationwide.
Funds aim to cut development fees or levies, helping scale up housing supply.
Bigger housing push already included $13B agency funding and >$50B infrastructure projects.
Build Canada targets 500,000 homes yearly, far above recent ~230,000 averages, but local regulations slow progress.
Funding shares partly tied to ↓home sales and affordability; distribution ready this spring.
Vancouver’s Average Rent Continues Decline
Vancouver rents soften, spaces shrink
Vancouver’s avg. asking rent was the lowest in nearly 4 yr, even as Canada-wide rents eased.
From January 2026 to February 2026, Vancouver asking rent ↑~1% to ~$2.7K for apartments and condos.
Catch for renters: avg. space is shrinking, while price per sq-ft stayed stable yearly in Vancouver.
Vancouver avg. unit: ~650 sq-ft, costing ~$4.11 per sq-ft; among Canada’s priciest, with smallest units.
Smaller studios and 1-bed condos dominated new supply, skewing avg. sizes while keeping prices accessible to buyers.
I’m seeing Vancouver rents cool compared with last year, but renters are often getting less space for similar budgets. Smaller units are becoming the norm, shaped by new condo supply and affordability pressures.
Average asking rent in Vancouver is slowly trickling upward after months of declines
Vancouver's rent prices have slightly increased since January 2026 but remain lower than in 2022 after 28 months of declines. North Vancouver is the priciest rental market in Canada, with average rents of $2,971 for all units. One-bedroom rents in Vancouver rose 1% from February to $2,400 but are down 5.2% year-over-year. Vancouver saw notable rent drops in studios (-6.8%), three-bedroom units (-6%), and shared accommodations (-16.3%).