BC real estate prices are among the highest in Canada. The BCREA (BC Real Estate Association) tracks all provincial board data; this guide consolidates 2025 figures for Greater Vancouver, Victoria, Kelowna, and other major BC markets.
Average House Prices — BC Cities 2025
| City / Region | All Types Avg | Detached Avg | Condo Avg | YoY Change |
|---|---|---|---|---|
| Greater Vancouver | $1,400,000 | $1,950,000 | $780,000 | +1.8% |
| West Vancouver | $3,100,000 | $3,800,000 | $1,400,000 | –0.5% |
| North Vancouver | $1,600,000 | $2,100,000 | $850,000 | +1.2% |
| Burnaby | $1,200,000 | $1,650,000 | $680,000 | +1.5% |
| Surrey / Fraser Valley | $950,000 | $1,250,000 | $550,000 | +3.2% |
| Richmond | $1,250,000 | $1,700,000 | $680,000 | +1.4% |
| Victoria (CRD) | $900,000 | $1,200,000 | $550,000 | +2.8% |
| Kelowna | $850,000 | $1,100,000 | $500,000 | +4.6% |
| Kamloops | $610,000 | $720,000 | $340,000 | +3.1% |
| Nanaimo | $670,000 | $780,000 | $380,000 | +4.2% |
| Prince George | $390,000 | $440,000 | $220,000 | +2.8% |
BC Property Transfer Tax (PTT) 2025
BC charges a Property Transfer Tax on all real estate purchases:
| Purchase Price Range | PTT Rate | PTT on $900K Home |
|---|---|---|
| First $200,000 | 1.0% | $2,000 |
| $200,001 – $2,000,000 | 2.0% | $14,000 (on $700K) |
| Above $2,000,000 | 3.0% | – |
| Total PTT on $900K | – | $16,000 |
First-time buyers and newly built homes may qualify for PTT exemptions. The First-Time Home Buyers' Exemption fully exempts homes up to $500K and provides partial exemption to $525K.
BC's Speculator and Foreign Buyer Taxes
BC introduced several demand-side measures to cool the market:
- Speculation and Vacancy Tax (SVT): 0.5% for BC residents, 2% for foreign owners on properties not used as a primary residence in designated regions
- Empty Homes Tax (City of Vancouver): 5% of assessed value on properties deemed empty for more than 6 months/year
- Foreign Buyers Tax: 20% additional PTT on property purchases by foreign nationals and corporations in designated areas (Metro Vancouver, Fraser Valley, Capital Regional District, etc.)
BC Housing Market Outlook 2025
BC's market is recovering slowly from the 2022–2023 rate-driven correction. Metro Vancouver saw price declines of 10–15% from the 2022 peak, followed by stabilization in 2023–2024. With Bank of Canada rate cuts, demand is gradually returning — particularly in the Interior (Kelowna up 4.6% year-over-year).
Supply remains severely constrained in Metro Vancouver. The provincial government's Bill 44 (2023) — requiring municipalities to allow multi-family housing near transit and in most single-family zones — is beginning to increase development applications, but new supply takes 3–5 years to materialize.
For property tax context, see our BC property tax guide and Vancouver property tax guide.
FAQ — BC House Prices 2025
What is the average house price in Vancouver in 2025?
Greater Vancouver averages approximately $1.4M for all property types — $1.95M for detached homes and $780K for condos/strata units.
Is Kelowna more affordable than Vancouver?
Significantly — Kelowna averages $850K vs Vancouver's $1.4M. However, Kelowna has seen sharp price growth (4.6% in 2025) as remote workers relocate from Metro Vancouver.
What is the BC Property Transfer Tax on a $900K home?
Approximately $16,000 (1% on first $200K + 2% on remaining $700K). First-time buyers purchasing newly built homes may be exempt.
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