Has housing affordability in Vancouver improved since the last federal election?

It has been four years since the last federal election, but one thing hasn’t changed: housing remains a key voter issue for Vancouver residents.

We have seen many changes in housing over the last four years, but one reality has stayed constant: buying a home remains unaffordable for most Vancouver residents.

According to a recent Royal LePage survey, housing is a bigger issue for Vancouver residents than nationally. But has the housing crisis improved or worsened since the last federal election?

If we answer that question by looking only at the cost of buying a home, the situation hasn’t improved much since 2021.

How Vancouver housing prices and sales have changed

The Greater Vancouver Realtors group analyzes housing in Metro Vancouver monthly, including benchmark prices for detached homes, condos, and townhomes. They also look at the overall number of listings and sales.

In March 2021, the benchmark price (the price of a typical home in a general area) of a detached house in Greater Vancouver was $1,700,200. That month, 1,965 homes were sold, with a typical home staying on the market for an average of 27 days before being sold. There were also 3,713 active listings.

That same month, the benchmark price of an apartment was $715,800, and 2,697 were sold. There were 4,123 active listings, and an apartment listed spent an average of 28 days on the market.

In March 2025, the benchmark price of a detached home rose to $2,034,400, nearly $335,000 more than in March 2021. There were 527 sales, way down compared to 2021. However, active listings were up significantly to 5,110. A detached house spent 35 days on the market on average.

Apartment prices also rose, though not as significantly as detached homes. Last month, the benchmark price of a Greater Vancouver apartment was $767,300 (+$51,500). There were 1,084 sales and 6,672 active listings, and an apartment listed spent an average of 28 days on the market.

The Canadian Real Estate Association (CREA) also shows increased prices since 2021. In March 2021, CREA data shows that the benchmark price for a single-family home was $1,135,000. In March 2025, that number was $1,320,900.

Prices aren’t everything, as factors like interest and mortgage rates also play into the dynamic. COVID-19 also dramatically shifted the housing landscape.

However, overall, it has not become significantly more affordable to buy a home in Vancouver since the last election.

Priorities for Vancouver voters

According to the Royal LePage, housing only trails the cost of living in Vancouver’s election priorities. Royal LePage’s survey also shows that, as a province, healthcare actually trumps housing, but only by a few percentage points.

When British Columbians were asked if housing policies would affect how they vote in this election, 60 per cent said yes. The response was 58 per cent nationally.

Younger voters are also focused on housing.

“Among Generation Z and millennial voters, the focus on housing as an election issue is even stronger, at 72 per cent and 59 per cent, respectively,” Royal LePage says.

Other surveys are also showing similar tendencies. A survey conducted by Nextdoor Canada and the Samara Centre for Democracy found similar results. It also found that crime and the environment are lower on the priority list.

• 34 per cent of B.C. respondents said inflation and cost of living are their top concerns
• 15 per cent of B.C. respondents said housing availability and affordability are their top concerns

How about you? What are your top three issues in the upcoming election? Let us know in the comments.

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