Canada’s Population Growth Stalls — Shaking Vancouver’s Housing Industry

Canada’s population growth has come to a near halt — and the effects are already being felt across Vancouver’s housing market.

For the first time in over 70 years, provinces like B.C. and Ontario have reported net population losses. In Q1 2025 alone, B.C. lost over 2,300 residents, while Ontario lost more than 5,600. This sharp shift, driven by changes to immigration policy and processing backlogs, has sent shockwaves through a real estate industry long dependent on steady inflows of new residents.

In Vancouver, developers and agents are growing uneasy. Pre-sale projects are stalling, rental units are sitting empty, and the urgency to sell or rent has started to fade. Some in the industry are calling for the federal government to lift restrictions on foreign buyers to reignite demand.

But the public mood is different. Many locals see this slowdown as a long-awaited correction — a chance to finally cool overheated markets and improve affordability. Online discussions reflect frustration with past policies that catered more to investors than residents. As one Vancouverite put it: “They built condos for nobody — too small, too expensive, and no parking.”

With population-driven growth no longer guaranteed, Vancouver’s housing market may be entering a new era — one where sustainability, livability, and affordability take priority over speculation and foreign capital.