Federal housing agency: Fewer home-builds in BC
Despite repeated claims from both Ottawa and the BC Government that homebuilding is accelerating, the federal Canada Mortgage And Housing Corporation (CMHC) is predicting fewer homes to be built in both Vancouver and Victoria this year.
According to CMHC’s ‘Summer Update,’ between 26,000 and 27,000 homes will be constructed in Vancouver in 2026, with approximately three-quarters being apartments. That’s down slightly from the 28,112 homes built in 2024, and 27,185 in 2025.
CMHC predicts that average Vancouver sale prices will fall slightly from $1.19m last year to $1.15m this year, with average two-bedroom rents largely unchanged at $2,398 per month.
In Victoria, CMHC predicts between 4,500 and 4,700 homes being built by end of year, down slightly from the 4,859 built in the city in 2025. Again, average sales prices remain stable, at around $1m, with average two-bedroom rents at $2,200 per month.
Both the federal and provincial governments, along with experts, have stated the need to build many more units to alleviate housing challenges.
In its report, CMHC said that British Columbia “will likely continue to struggle with historically weak sales levels due to affordability challenges and slower population growth” while referring to “historically low levels of construction.”
Both the federal and provincial governments have faced scrutiny over their BC housing plans, specifically over a scheme to purchase unsold condo units for affordable housing, in what critics have deemed a 'bailout' for developers.
Jarryd Jäger
Sitka Media Guest Columnist
Leda Omid
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