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2 clusters · 12 sources · 25 days · First seen about 2 months ago · Last updated 23 days ago

Victoria housing and rental market decline

Overview

The Victoria housing market has experienced a downturn in both rental and sales sectors. In August 2026, average asking rents in Victoria declined by 3.4% year-over-year, with one-bedroom units averaging $1,994 and two-bedroom units averaging approximately $2,645. This followed a broader national trend of declining rental prices in Canada.

By September 2026, the Greater Victoria real estate market transitioned into a buyer’s market. Sales volume decreased significantly, with 463 properties sold, representing a 16.4% drop from the previous year and a 21.7% decline from August. Active listings rose to 3,811, marking an increase in inventory. During this period, the benchmark price for a single-family home in the Victoria Core fell by 2% year-over-year to $1,280,100, while condominium benchmark prices saw a slight 1% annual increase to $547,800.

Victoria Real Estate Board chair Fergus Kyne noted that the market has entered buyer’s market territory, marking the first time this has occurred since early 2015, excluding the pandemic period.

Entities

Victoria · Christine Boyle · Vancouver · Rentals.ca · British Columbia

Claims

What the coverage asserts, and how many sources carry each claim.

[● 3 SOURCES] The Victoria housing market has entered buyer’s market territory.
[● 3 SOURCES] A total of 463 properties were sold in the Victoria Real Estate Board region in September 2026.
[● 3 SOURCES] September sales were down 16.4 per cent compared to the same period in 2025.
[● 3 SOURCES] There were 3,811 active listings for sale at the end of September 2026.
[● 3 SOURCES] The benchmark price for a single-family home in the Victoria Core was $1,280,100 in September.
[● 3 SOURCES] The benchmark price for a condominium in the Victoria Core was $547,800 in September.

Timeline

23 days ago

[BUSINESS] 11 sources
British Columbia housing markets show divergent trends
North Cowichan has met 44 per cent of its five-year housing target, while the Greater Victoria real estate market has shifted into buyer’s market territory due to rising inventory and falling sales.
about 2 months ago

[BUSINESS] 4 sources
Victoria rental prices fall 3.4% amid national decline
Victoria's average apartment rents fell 3.4% year-over-year in August to $2,243, following a broader Canadian trend of 23 consecutive months of declining national rental prices.

Sources

albernivalleynews.com · comoxvalleyrecord.com · goldstreamgazette.com · lakecowichangazette.com · oakbaynews.com · peninsulanewsreview.com · saanichnews.com · sookenewsmirror.com · todayinbc.com · vancouverislandfreedaily.com · vicnews.com · victoriabuzz.com

This summary has been updated 1 time: see revision history