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Major investment is shaping the future of Burnaby’s rental landscape, with over $170M committed by federal and First Nations partners to deliver 355 secure rental homes. This initiative includes $131.9M in federal loans, enabling the development of a 91-unit low-rise and a 264-unit high-rise—each thoughtfully designed with amenities like a gym, children’s play area, and rooftop patio with barbeque. The strategic location, near 3683 Willingdon Avenue and 4428 Kwasen Way, offers proximity to educational institutions and major shopping, underscoring the value of connectivity for residents. Having spent my career focused on premium developments throughout Greater Vancouver, I recognize the significance of projects that foster long-term community growth and deliver affordability alongside quality. Developments of this scale are not just about new homes—they’re about building enduring opportunities and setting a foundation for future generations.

National Day for Truth and Reconciliation honours survivors and raises awareness about their experiences.
It's a symbol of Canada's commitment to reconciliation with Indigenous communities.
Wearing orange shirts on this day symbolizes respect for survivors and raises awareness about residential schools.
May this day inspire a future where every voice is heard, and every spirit is healed.
Together, we can create a tomorrow filled with hope and endless possibilities.

BC’s standing inventory has reached 6,700 homes—of which 5,500 are condos—spanning not just the major urban cores, but a diverse mix of communities throughout the province. In my years specializing in Greater Vancouver’s presale and luxury segments, I’ve seen few moments where unsold inventory is spread so broadly: Burnaby currently leads with 1,210 units, followed by Vancouver at 1,020, Surrey at 798, and Coquitlam at 620. Richmond, Kelowna, Langley Township, New Westminster, and Delta all post significant numbers, demonstrating that supply is not just a Metro Vancouver story. Even markets like Langford (188), Esquimalt (173), North Vancouver City (135), Abbotsford (118), and Chilliwack (100) are contributing to the provincewide total of 5,840 units in the listed cities alone. While the common presale narrative blames the surplus on studios and one-bedrooms, the data tells a more nuanced story—size and average price trends suggest broader market forces at play. As always, a precise understanding of the region’s evolving inventory is essential for clients making high-stakes decisions—especially in today’s dynamic landscape.

As we track Canada’s housing market toward a projected 2027 recovery, I’m encouraged by signs of renewed confidence: resales are on the rise, inventory is stabilizing, and prices have begun to level off. With affordability and employment metrics improving, many buyers who had stepped back during recent volatility are now better positioned to re-enter—supported by stronger savings and job security.

The outlook for 2026 suggests a slight dip, with resales forecasted to decrease about 4% to roughly 453,000 units and benchmark prices easing by 2% to around $794,000. These are measured corrections, not dramatic swings. Borrowing costs are hovering near their lowest levels, and while the central bank is expected to keep rates steady, external pressures—like ongoing trade tensions and energy market shocks—could still influence momentum.

By 2027, forecasts point to renewed gains in both resales and prices across all provinces, though the recovery may be uneven rather than sweeping. For clients navigating Vancouver’s premium strata or high-end preconstruction opportunities, my focus remains on leveraging this evolving landscape to protect and enhance your capital—using the same disciplined, finance-driven strategies that have guided my practice since 2006. As always, a nuanced, region-specific approach makes all the difference when timing high-value real estate decisions.

Development fees have a profound impact on new-home costs across Canada, especially in markets like Vancouver and Toronto. A recent national housing agency report suggests that reducing these fees could make about 14% more residential projects financially viable—an insight carrying major implications for supply. In Vancouver, where I’ve spent years guiding clients through the intricacies of the presale and luxury estate landscape, the numbers are striking: fees for comparable units can range from $20,000 to $33,000, significantly higher than Calgary’s $4,000–$9,000 range. Eliminating these charges could boost viable projects by roughly 10% in both Vancouver and Toronto, with Toronto potentially meeting half its stated supply target.

Yet, it’s crucial to remember that development levies support essential infrastructure—roads, sewers, and public administration—so a zero-fee scenario isn’t realistic. For families seeking larger, new-build homes, high fees often push prices above those of comparable resale properties, making it challenging for buyers to secure the right fit in competitive markets. As someone deeply rooted in Vancouver’s real estate ecosystem, I see strategic fee adjustments—especially on family-sized units—not just as policy, but as a lever for meaningful change in supply and affordability.

August brought a notable shift in Burnaby’s rental landscape: every category—across unit sizes and furnishings—recorded an uptick in asking rents. The standout was furnished three-bedroom apartments, which saw a ~4% leap from $3,000 to $3,200 in the latest period. Yet, for those monitoring longer-term affordability, there’s nuance: despite recent gains, unfurnished one-bedroom rents remain lower year over year—averaging $2,200 last year and still about $280 beneath levels from two years prior. Even so, Burnaby maintains its place among Canada’s top five most expensive rental cities, a fact that keeps local households’ eyes sharply focused on cost trends and value. As someone who’s spent years advising clients on both luxury and investment properties in Greater Vancouver, I know how important it is to track these shifts by segment. The current data underscores just how granular rental market dynamics can be—a reminder that opportunity and risk often go hand in hand, depending on your strategy and the property’s profile.