BC's Pacific Gateway — 21 municipalities, from Westside Vancouver luxury to Langley value.
Metro Vancouver — the Greater Vancouver Regional District — encompasses 21 municipalities from White Rock in the south to Bowen Island in the north, and from the City of Vancouver in the west to Langley in the east. With 2.6 million residents and Canada's second-largest economy after Toronto, Metro Vancouver is a global city with corresponding real estate values. In 2026, the market is showing modest recovery from its 2022–2023 correction, supported by lower mortgage rates, strong immigration, and persistent supply constraints.
The metro area's diversity of sub-markets is remarkable: from $2M+ westside Vancouver detached homes to $450,000 condos in Surrey, the region offers options at many price points — though "affordable" remains a relative term. The Fraser Valley communities of Abbotsford, Chilliwack, and Mission, while technically outside Metro Vancouver, offer the most accessible prices for buyers willing to commute or work remotely.
| Municipality | Median Detached | YoY Change |
|---|---|---|
| City of Vancouver (Westside) | $2,350,000 | +2.1% |
| City of Vancouver (East) | $1,485,000 | +2.9% |
| North Vancouver | $1,685,000 | +3.2% |
| Burnaby | $1,385,000 | +3.5% |
| Surrey | $1,065,000 | +4.8% |
| Langley | $965,000 | +5.2% |
| Purchase Price | Rate |
|---|---|
| First $200,000 | 1.0% |
| $200,001 – $2,000,000 | 2.0% |
| $2,000,001 – $3,000,000 | 3.0% |
| Over $3,000,000 | 5.0% |
First-time buyers under $835,000 qualify for a full exemption. The BC Speculation and Vacancy Tax applies to Metro Vancouver — budget 0.5–2% of assessed value annually if the property will not be your primary residence.
Estimate your BC PTT for this purchase.
Metro Vancouver's sub-markets vary enormously in price. Establishing upfront whether you can consider all municipalities — or only specific ones for commute or community reasons — determines your achievable options. Buyers flexible on location consistently find better value in Maple Ridge, Langley, or Tsawwassen vs. Vancouver, North Vancouver, or West Vancouver.
The BC SVT applies throughout Metro Vancouver and the Capital Regional District (Victoria). As a principal residence owner, you are exempt after completing the annual declaration. However, investors, part-year residents, and secondary property owners face 0.5–2% annual tax on assessed value — a significant cost that must be factored into investment property analysis.
Properties within a 500m walk of any SkyTrain station in Metro Vancouver have consistently outperformed the broader market. As the Broadway, Surrey, and Langley extensions come online, early buyers in those corridors have typically benefited from "transit premium" appreciation. Watch for future station locations in planning documents.
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