Minimal changes to property assessments throughout region

Most residential property assessments in the Thompson-Nicola area show modest changes for 2026, with values generally shifting between -5% and +5%. Kamloops, Clinton, and Logan Lake remain unchanged, while Ashcroft, Cache Creek, Merritt, and Sun Peaks saw slight decreases. Lytton's property values rose 30% due to rebuilding after a 2021 fire. BC's total property value decreased nearly 2.5% to over $2.75 trillion. Assessment changes do not directly determine tax changes.

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Canada Housing Recovery Expected 2026

Home sales expected to slowly recover as 2026 begins, rebounding from current trade uncertainty.
Borrowing rates likely remain near current levels, encouraging more buyers to enter the market.
Economic clarity from potential US-Canada trade deals could accelerate housing demand in 2026.
Core inflation stability may keep mortgage rates steady, supporting gradual market recovery next year.
Overall, Canada’s housing market forecast suggests cautious growth, with buyers slowly returning off sidelines.

North Central B.C. assessments rise to $104.7 billion as housing market remains stable

BC Assessment released 2026 property assessments for about 250,000 properties in North Central B.C., reflecting values as of July 1, 2025. Most homeowners see changes between -5% and +15%. The region's total assessed value rose from $99.8 billion to $104.7 billion, including nearly $1 billion from new construction. Owners can review assessments online and appeal by February 2 if needed.

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B.C.’s homeowner grant threshold set at $2.075M for 2026

The 2026 homeowner grant threshold in B.C. is set at $2.075 million, down from $2.175 million in 2025. Homes above this value may receive a partial grant, phased out at $5 per $1,000 of assessed value. Basic grants are up to $570 in certain regional districts and $770 elsewhere. Additional grants for seniors, veterans, and people with disabilities are higher. Eligibility requires the property to be the principal residence and an application to be submitted.

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Residential property values largely increase across Cariboo in 2026

In 2025, property values increased in nearly all Cariboo region areas. Single-family home values rose by 2-14% in most districts, except 100 Mile House, which saw no change. Strata properties in Williams Lake increased by 1%. Overall property classes in Cariboo saw a 4.81% average value increase. Top-valued properties include acreages and lakefront homes exceeding $2 million. Property tax changes depend on value changes relative to class averages.

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Is Canada’s Housing Market Headed for a Soft 2026?

Canada’s housing market will see modest activity in 2026, with no major rebound expected.
Prices remain weak in key markets, leaving buyers cautious and many waiting for further declines.
Sellers face challenges, as supply still outpaces demand, giving buyers the upper hand.
Recovery will vary regionally: Atlantic provinces see rising prices, while Ontario, BC, and Alberta remain complicated.
Overall, many markets are expected to remain soft with continued price pressure.

Can Canada Double Housing Construction?

Canada plans to double national homebuilding over the next decade through new federal initiatives.
Federal housing programs are projected to drive over $1 trillion in economic investment by 2030.
The Affordable Housing Fund is expected to create thousands more units as new funding accelerates.
Top-up financing is forecast to add over 5,000 new affordable homes beginning 2025–26.
Canada anticipates rapid expansion of modern, large-scale construction methods to reduce future housing costs.

More Rental Options Open Up Across B.C.’s Major Markets

Vacancy rates in major British Columbia cities rose in 2025, with Greater Vancouver reaching its highest level in over 30 years due to slower population growth and outflows of non-permanent residents. Vancouver's purpose-built rental vacancy was 3.7%, with rents rising modestly. Victoria's vacancy hit its highest since 1999 at 3.3%, with rent growth accelerating. Increased vacancies reflect demographic shifts and housing policies boosting rental supply.

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BC Housing: End-of-Year Dip Masks 2026 Boom

B.C. posted upside resale surprises despite affordability pressure lingering.

Sales dip about 4% by end-2025 before momentum flips.

Strong rebound forecasted: sales jump 18% in 2026.

Another 10% sales gain follows in 2027, slower but healthier.

Prices recover gradually, rising about 4% annually post-reset.

B.C. is home to the second most cities with highest rents in Canada

Rent prices in B.C. remain among the highest in Canada despite declines. Vancouver leads with the priciest one-bedroom median rent at $2,450, down nearly 6% year-over-year, and two-bedrooms at $3,300, down 5.7%. Victoria saw the largest drops, with one-bedroom rents down 7.2% and two-bedrooms down 8.6%. Ontario has the most cities in the top rent rankings. National rents have declined for 14 months amid rising supply and economic uncertainty.

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