According to CMHC, year- to-date, (Jan to June 2026) Greater Victoria has posted 1,872 new homes, a 20% decrease from the 2,339 last year (Jan to June 2025).
The bellwether for housing supply in Greater Victoria is Langford, which is down 62% to 329 from 860 new homes. For decades, Langford has been a model of consistency offering homes of all types – single family, townhomes, apt/condos. However, a combination of rising costs, softening sales, and a more obstructive municipal council/administration are leading to declining housing starts.
Colwood has has had an 11% decline posting 306 this year vs 343 last year. Victoria leads in starts at 841 this year, however the vast majority are condos of which 640 were in one month – April. These projects are usually in the hopper for years so it is difficult to predict future supply. Victoria had zero new homes in June.
““There is little doubt that the slowdown reflects rising uncertainty, higher development costs, weaker demand and more unsold homes,” says Kevin Hughes, CMHC deputy chief economist.
High development costs and obstruction continue to be themes in municipalities including North Saanich (2 new homes) and View Royal (1 new home). For example, Metchosin has more than double the starts this year at 7 than North Saanich and View Royal combined.
VRBA’s Crystal Ball Housing Forecast held January 14, 2026 anticipates a slowdown in 2026, partly due to the highest supply of unsold units in 35 years. For those considering a new home, now is a good time to be talking to builders. Visit VRBA’s Expression of Interest.
Year to date, CMHC’s report shows 141 single family homes, 226 row/townhomes/duplexes, etc, and 1,505 apt/condos.
The Ministry of Housing and Municipal Affairs appears to be ignoring some municipalities’ intransigence when it comes to contributing to housing in the community. In addition, the BC govt’s claims to support housing affordability are not credible when they approve DCC bylaw increases of 258% as they did last year in Victoria. As well as the CRD’s recent DCC increase of up to $9,044 per new home.
BC Premier David Eby undermined new housing and affordability when he rejected Prime Minister Carney’s offer of a federal rebate for the GST on new housing, provided a few months ago to Ontario.