British Columbia voters have elected a Conservative government led by Lorne Doerkson for the first time since 1933, marking a dramatic shift in the province’s political landscape. The result is expected to have significant implications for housing policy, development approvals and the broader investment environment, all of which emerged as key issues during the campaign.
In his election-night victory speech on October 24, Doerkson pledged to focus on tax relief, economic growth, investment attraction, health care and public safety. While housing was not referenced explicitly, it has long been a central pillar of the BC Conservatives’ platform. In 2024, the party unveiled its Get BC Building plan, positioning housing supply as one of British Columbia’s most pressing challenges. Signalling a more development-friendly policy environment for rental housing providers, the plan called for accelerated approvals, fewer regulatory hurdles and measures to reduce development costs as key components of improving affordability.
More recently, Doerkson has argued that excessive regulation, rising development costs and lengthy approval processes have contributed to British Columbia’s housing affordability challenges. The party has also criticized the NDP’s approach to overriding municipal zoning authority, contending that local governments should have a greater role in planning decisions while barriers to new housing construction are reduced.
“Initial impacts on the existing rental housing sector will likely stem from the government’s taxation and business-relief priorities, which our members will undoubtedly view positively,” said David Hutniak, CEO of Rent BC. “In the coming weeks and months, Rent BC will seek opportunities to collaborate with the new government, emphasizing the need for a balanced legislative environment and an economic framework that encourages continued investment in maintaining and improving existing rental housing stock while supporting the construction of new purpose-built rental homes.”
Hutniak noted that in 2018, the BC NDP’s decision to eliminate the long-standing Annual Allowable Rent Increase (AARI) formula of 2 per cent plus CPI under the Residential Tenancy Act, replacing it with CPI-only increases and later freezing rent increases during the COVID-19 pandemic, has created ongoing financial pressures across the rental housing sector, particularly for small-scale landlords.
“We provide housing for more than 1.63 million British Columbians and ultimately serve as a critical community amenity,” he said. “We need this new Conservative government to reinstate the 2 per cent-plus-CPI AARI to support the operation, enhancement and renewal of our aging rental stock. But there is much more that can be done to ensure we have a strong and healthy rental housing ecosystem that works for both housing providers and renters.”
Among the additional priorities Rent BC intends to raise with the new government are reducing the property tax burden on rental housing providers, establishing a fairer property assessment process, addressing escalating utility costs, exploring provincially backed insurance programs to improve affordability, and expanding incentives to support both environmental and financial sustainability. These measures could include tax credits, grants and subsidies aimed at helping landlords maintain and upgrade rental properties.
Hutniak added that the organization will also be closely monitoring the government’s approach to property rights and Indigenous governance.
“There is a significant risk of protracted court challenges that could have broad economic implications,” he said. “Delays to major resource, pipeline and mining projects could affect investment confidence and economic activity across the province, with downstream impacts on our sector.”
Addressing longstanding barriers to development
On the development side, industry stakeholders are watching closely to see how the party’s campaign commitments translate into policy changes that could improve project viability and accelerate housing delivery.
David Woo, vice-president, development, Western Canada at Starlight Investments, said the election presents an opportunity to address several longstanding obstacles that have constrained residential development across the province.
“British Columbia has an opportunity to focus on tangible housing delivery, not just housing targets,” he said. “Targets are important numbers, but the real work should focus on identifying the pinch points in building new housing and creating the conditions that allow projects to move forward.”
One area ripe for improvement, Woo said, is providing greater certainty for projects already underway. Given that a rental development can take four to 10 years from planning to completion, changes to development cost charges, building requirements or other regulations during that period can threaten a project’s financial viability.
“Clear rules, predictable costs and protection from sudden increases would give lenders and investors the confidence to keep projects moving and help deliver more purpose-built rental housing,” he said. “British Columbia remains a strong place to invest in rental housing, but the policy environment will determine how much gets built. Starlight remains committed to the province and has a pipeline set to deliver thousands of rental homes in B.C. Moving those projects forward will require stability, predictable costs and a focus on actual housing delivery.”
Woo added that delivering more purpose-built rental housing will require collaboration across all levels of government, including newly elected municipal officials, the new provincial government and the federal government. It will also require governments to work directly with the private sector, which understands the financing and construction realities on the ground. By working together to identify barriers, align policies and create greater certainty, governments and industry can move viable projects forward and deliver more housing.
“Short-term shifts in market conditions should not distract from B.C.’s long-term need for rental housing,” he said. “Housing takes years to plan, finance and build, so maintaining a long-term focus on creating the conditions for viable projects to move forward will be important to ensuring new rental supply is available as communities continue to grow.”
Awaiting next steps
The new government takes office at a pivotal moment for British Columbia’s housing sector, as communities across the province continue to grapple with low rental vacancy rates, housing shortages and elevated construction and financing costs. While developers and rental housing providers may welcome the Conservatives’ emphasis on reducing regulatory barriers, attracting investment and increasing housing supply, questions remain about how the government will balance those objectives with affordability goals, particularly for lower-income households.
The administration also inherits ambitious housing targets, along with ongoing challenges related to labour availability, construction capacity and project financing. In the weeks ahead, industry stakeholders will no doubt be watching closely for details on how the government plans to translate its pro-growth agenda into policy and whether those measures can accelerate housing delivery at a scale that meaningfully improves affordability across the province.
