The Province says new rental data shows progress is being made for renters across British Columbia.

The Canada Mortgage and Housing Corporation’s 2025 Rental Market Report shows vacancy rates increased significantly over the past year.

In Greater Vancouver, the vacancy rate more than doubled, rising from 1.6 percent to 3.7 percent, the highest level seen in more than 30 years. Greater Victoria saw its vacancy rate climb to 3.3 percent, the highest since 1999.

Across other B.C. communities with populations of 10 thousand or more, vacancy rates increased on average from 1.9 percent to 3.5 percent.

In a statement responding to the report, Housing and Municipal Affairs Minister Christine Boyle says the numbers reflect the impact of provincial efforts to speed up housing construction, curb speculation, and return short-term rentals to the long-term market.

Boyle says thousands of new rental homes have come online, and more are still being built.

She adds that vacancy rates in Metro Vancouver and Greater Victoria are now at their highest levels in decades, while rents are trending downward.

The Province says B.C. continues to lead the country in asking-rent declines, down 8.5 percent over the past two years.

To see the Minister's statement, visit Government of British Columbia.