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flag British Columbia led Canada in rent drops, with average rents falling 6.8% year-over-year in November 2024.

flag British Columbia saw the largest rent drop in Canada in November 2024, with average asking rents falling 6.8% year-over-year to $2,392—the 24th straight month of annual declines. flag Vancouver hit its lowest rental levels in over three years, while Victoria and shared accommodations also saw significant drops. flag Nationally, rents fell more than 3% to $2,074, about $100 below two years prior. flag B.C. flag Housing Minister Christine Boyle highlighted a 55% rise in registered purpose-built rentals and new laws like Bill 25 to expand small-scale housing and tighten short-term rental rules, part of ongoing efforts to increase affordable housing supply.

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