SOUND OFF: Supporting renters in B.C.

Jul 22, 2026 | 1:30 PM

FINDING A HOME or apartment to rent got a little bit easier again this month for British Columbians, as rents decreased by 5.3 per cent in B.C. – the highest rate of decline in the country.

As a provincial government, we’ve been working hard to build more housing, update zoning laws, and return short-term rentals to the long-term housing market – and we are now seeing the impact for people as rents have continued to decline the past few months.

The result is a significant cost of living savings for British Columbians, highlighted by the asking price for rent in B.C. falling by 12.5 per cent from August 2023 to April 2026, a $333-a-month reduction B.C.-wide, saving renters an average of $4,000 per year.

Our provincial government is also working with the federal government to create even more homes for the province – and we are matching the $1.6-billion Build Communities Strong Fund to make sure we can lower development charges on multi-unit housing projects and expand water systems, wastewater systems, and local roads to keep up with new builds.

Recently, our government announced $9 million to help 56 municipalities fast-track development approvals, including $200,000 for Kamloops.

Sound Off

SOUND OFF: Supporting renters in B.C.

2h ago

The Creative Edge

PEARCE: Overloaded classrooms

Jul 21, 2026

1000 Ways to Heal

1000 WAYS TO HEAL: Truth is what allows us to navigate the space between them

Jul 20, 2026

As of June, asking rents in Vancouver and Burnaby have fallen year-over-year for 29 consecutive months, and we’re one of only two provinces that has seen rents decline in the last three years.

Additionally, new registrations of purpose-built rentals are also at record levels year over year, hitting more than 26,000 in 2025. The average number of yearly purpose-built registrations from 2007 until 2016 was just 2,500.

Another way we protect renters in B.C. is by tying the annual allowable rent increase to inflation, eliminating the automatic percentage update every year.

We’ve also increased the Shelter Aid for Elderly Renters (SAFER) program, which is now helping more than 27,000 low-income seniors annually with the cost of rent.

We’re going to keep up this work and more so that people and their families can live, work and thrive in the beautiful province we call home.

——

Editor’s Note: This opinion piece reflects the views of its author, and does not necessarily represent the views of CFJC Today or Pattison Media.

by Terry Yung, MLA for Vancouver-Yaletown

Click here to report an error or typo in this article

SOUND OFF: Supporting renters in B.C.

Our Community