BC Election 2026: What It Could Mean for North Vancouver Real Estate

Last updated: October 19, 2026

Ok, didn’t we JUST vote? lol. Yep, we did. But here we go again! British Columbians head back to the polls on Saturday, October 24 for a snap provincial election.

Let me be really clear: I am NOT going to tell you how to vote. That’s your business. But housing is one of the biggest issues in this election, and whoever wins could affect what happens to your home, your neighbourhood and your next move. So, in true no-gatekeeping fashion, here’s what each party is promising on housing, in plain English.

First, a little reality check

BC is running a big deficit, around $13.8 billion this year. Translation? No matter who wins, there’s less money to go around, so some of these promises might take a while (or might not happen at all). Just saying.

BC NDP (David Eby)

• A new tax on brand-new condos that sit empty. If a finished unit sits unsold for more than a year, the developer would pay 2%, plus another 1% for every year after that. They say it could free up about 5,000 condos.

• A bump to the Speculation and Vacancy Tax: up to 2% for Canadian owners and 5% for foreign owners.

• Keeping the current rules that make municipalities allow more homes, like multiple units on what used to be single-family lots.

BC Conservatives (interim leader Lorne Doerkson)

• No new taxes, plus an income tax cut of up to $1,000 a year for most working British Columbians.

• Rolling back at least some of the provincial housing rules that have been put on municipalities over the last few years.

• For seniors: undoing this year’s changes to the Property Tax Deferment Program, so older homeowners who defer their property taxes would get better terms again.

• Heads up: as I’m writing this, their full costed platform still hasn’t been released.

BC Greens (Emily Lowan)

• Vacancy control, which limits how much rent can go up between tenants.

• No more blanket pet bans in rentals. (The pets of BC are rejoicing.)

• Bringing back funding for community and Indigenous housing, with a goal of 26,000 non-market homes a year.

CentreBC (Elenore Sturko)

• Doubling the BC Builds program to create 20,000 below-market homes by 2031.

• One standard set of housing approvals across the province by 2028.

Ok, so what does this actually mean for YOU on the North Shore?

If you own a house: the big one is densification. Right now, the province makes municipalities like the District and City of North Van allow more homes on many residential lots. Some parties want to keep that, and some want to roll part of it back. That could change what you, or the neighbour behind you, can build down the road. (I dug into the local densification debate here.

If you own a second property: keep an eye on the Speculation and Vacancy Tax. If you live in your home full-time as your principal residence, you’re most likely exempt. But if you’ve got a second place, a higher rate could hit your wallet.

If you’re a senior, or thinking about downsizing: watch the Property Tax Deferment Program. The terms could change depending on who wins. I wrote a fun article in a High 5 about "Upliving" rather than "downsizing". It was a really fun article but I don't know where it is now. lol.

If you’re buying: take a breath. The stuff that affects you most right now, like Property Transfer Tax and the first-time buyer exemption, isn’t changing overnight. New rules take time to become law. This is still one of the best times to buy I've seen in my career.

If you’re a landlord or a renter: rent increase rules and possible vacancy control are the ones to watch. The 2026 rent increase limit is already set at 2.3%, and the election doesn’t change that.

The bottom line

Election promises are just that: promises. Whoever wins, real change takes time, and the market doesn’t flip overnight because of an election. But it’s smart to know what’s on the table, especially if you’re thinking about making a move in the next year or two.

Want to talk through how any of this might affect YOUR plans? Text me at 604.764.0990 or book a free 15-minute chat. No pressure, and definitely no gatekeeping.

And whoever you’re voting for, PLEASE vote on October 24. You can find your voting place at elections.bc.ca. I’ll see you there!