the rennie outlook 2025

In the rennie outlook, we provide our predictions for various dimensions of our economy and housing market for 2025. And as we’ve said before, the value of the predictions contained in the report is not merely in using them as inputs into pro formas and business plans, but—perhaps most  importantly—in the accompanying assumptions and context that inform our expectations.

We hope that you find this report useful as a basis for planning or, at the very least, as a part of constructive conversations about how our market is evolving.

Highlights:

• Resale Market: Sales activity is projected to rise in 2025 as purchasing power improves, some pent-up demand un-pents, and elevated inventory brings more buyers off the sidelines in the Vancouver Region.

• Rents: average rents are expected to soften due to the combination of declining international migration, decreasing interest rates, and quickly-expanding new purpose-built rental supply in Metro Vancouver.

• Starts and Completions: With under-construction inventory near all-time highs in Metro Vancouver, a new high-water mark for housing completions will be established in 2025 (surpassing the previous record set last year). Fewer pre-sale transactions and building permits being issued over the past two years will yield a reduction in housing starts this year.

Our rennie intelligence team comprises our senior economist, market analysts, and business intelligence analysts. Together, they empower individuals, organizations, and institutions with data-driven market insight and analysis. Experts in real estate dynamics, urban land economics, the macroeconomy, shifting demographics, and data science, their industry-leading data acquisition, analytical systems, and strategic research supports a comprehensive advisory service and forms the basis of frequent reports and public presentations, covering the Vancouver, Kelowna, Victoria, and Seattle marketplaces. Their thoughtful and objective approach embodies the core values of rennie.