VICTORIA – The British Columbia government attributes its anti-speculation policies to lowering asking rental prices.
Rentals.ca said in its December report that average rents in British Columbia fell 6.8% year over year, to nearly a median monthly rental price of $2,400, the sharpest rate of decline among regions measured in Canada.
In the same report, Alberta recorded a 5.7% drop to an average price of $1,775, while average rents in Ontario fell 3.8% to just under $2,300 and Saskatchewan saw a 3.9% increase to $1,490.
The report also shows that Vancouver leads other major Canadian cities in rent declines, with a 6.6% year-over-year decline, slightly ahead of Calgary's 6.5% rent decline.
The Ministry of Housing says asking prices for purpose-built condominium and condominium rentals in the province have fallen 8.5 per cent over the past two years, and rents in Vancouver have fallen more than 15 per cent from what was reported in December 2023.
Housing Minister Christine Boyle said in a statement that the province is focused on increasing supply and protecting tenants' rights, and Rentals.ca reports that British Columbia has increased the number of purpose-built rental homes registered by more than 55 per cent since last December.
Boyle says new legislation passed last month includes more support for small multifamily housing, as well as making restrictions on short-term rentals more effective.
“We need to continue the progress we've made so we don't repeat the mistakes that have pushed housing costs beyond the reach of everyday people in British Columbia,” Boyle said in a statement.
This report by The Canadian Press was first published Dec. 9, 2025.
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