BC Budget 2026: What the New Housing Tax Increases Mean for You
The BC Real Estate Association is raising the alarm on measures that could slow new home construction and push costs higher
The BC government's 2026 budget has drawn sharp criticism from the BC Real Estate Association, which says new tax increases on development lands and professional housing services will make an already difficult market harder to navigate. Higher school tax rates on development lands, PST on housing-related services, and an increased Speculation and Vacancy Tax are among the measures the BCREA says will drive up costs for buyers and further strain housing supply across the province.
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Single Family
$1,370,900
▼ 8.6% yr/yr
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Townhome
$770,700
▼ 7.1% yr/yr
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Apartment
$488,300
▼ 8.9% yr/yr
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Composite Benchmark
$895,100
▼ 0.2% vs Jan
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February brought a welcome lift in Fraser Valley sales — up 36% from January — but activity remains well below seasonal norms. With benchmark prices softening and inventory staying elevated, it's still a buyer's market out there. If you've been waiting for the right moment to move, conditions favour you right now.
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Client Care Coordinator
Kim works hard behind the scenes ensuring a hands on, stress free, white-glove home buying and selling experience. Her energy, attention to detail, and genuine care for every client makes her an irreplaceable part of your real estate journey. Meet Kim → |
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Scotia Mortgage Rates
Kirk Slaght • Home Financing Advisor
Current as of March 2026 • Prime Rate: 4.45%
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5-Yr Fixed
3.91%
Insured / OAC
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5-Yr Variable
3.45%
Prime − 1.00%
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For mortgage questions, I always point my clients to Kirk Slaght at Scotiabank — he knows his stuff and takes care of people. Whether you're a first-time buyer, moving up, refinancing, or renewing, reach out to Kirk directly and he'll find the right solution for your situation.
Connect with Kirk →Whether you're thinking about buying or selling, these guides walk you through everything you need to know about the process in today's market.
Home Buyers Guide →
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Home Sellers Guide →
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100–2429 152 Street, Surrey, BC V4P 1N4
604.839.3373
Listing information is deemed reliable but not guaranteed. Not intended to solicit properties currently listed for sale.
*Personal Real Estate Corporation
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