[REVISION HISTORY]

Victoria housing and rental market decline

Updated 1 time since CLSTR started tracking revisions of this situation.

What changed

2026-10-04 21:57 UTC → 2026-10-06 19:03 UTC · added ~~removed~~

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.

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