CPABC: Housing affordability the top concern among BC CPAs, amidst a complex economic backdrop
VANCOUVER, British Columbia, July 20, 2026 (GLOBE NEWSWIRE) -- According to the Chartered Professional Accountants of British Columbia’s (CPABC) quarterly BC Check-Up economic release, British Columbia has entered a period of population decline following several years of rapid growth. After peaking at 5.70 million residents on January 1, 2025, the province’s population fell by more than 53,500 people over the next 15 months.
“Federal immigration policy remains a key driver of population change,” said Lori Mathison, FCPA, LLB, president and CEO of CPABC. “But instead of rapid growth, we are now seeing an overall decline.”
Although the latest migration data does not reflect the reduction in the overall population, it does capture the early stages of this shift. Between July 1, 2024, and July 1, 2025, B.C. gained 28,345 residents (net) from other countries, down 82.5 per cent from the year before. Meanwhile, interprovincial migration reduced B.C.’s population by 2,392 residents, and natural growth – births minus deaths – turned slightly positive (+469 residents) for the first time in four years.
“One implication of these trends is that population-driven housing demand is easing,” continued Mathison. “On the supply side, home completions reached a new record high in what was a strong year for increasing the housing stock.”
Nearly 41,500 housing units were completed across B.C.’s seven Census Metropolitan Areas, up 16.6 per cent from 2024. The overwhelming majority (81.7 per cent) of these new homes were multi-family units such as apartments and condominiums.
In the housing market, the benchmark price for a home in B.C. was $876,600 in June 2026, down 4.8 per cent compared to one year earlier and at its lowest level since the market peak in March 2022. Year-to-date home sales were also down across the province, falling 5.4 per cent compared with the first six months of 2025.
“Population decline, record completions, soft labour market conditions and economic uncertainty are all contributing to easing prices,” continued Mathison “Still, the improvement hasn’t led to a sustained recovery in the volume of home sales, and affordability remains a top concern among our members.”
According to CPABC’s latest BC Check-Up survey conducted in May 2026, 79 per cent of CPA respondents considered high housing costs a major challenge for B.C. businesses. Commodity prices (77 per cent) and tariffs and trade restrictions (75 per cent) rounded out the top three issues currently impacting business success.
“The results speak to the structural nature of the province’s affordability issues,” concluded Mathison. “Even during a period of weaker demand and increasing supply, poor housing affordability remains a significant challenge for British Columbia.”
To learn more, visit www.bccpa.ca
About CPA British Columbia
The Chartered Professional Accountants of British Columbia (CPABC) is the training, governing, and regulatory body for over 40,000 CPA members and 6,000 CPA candidates and students. CPABC carries out its primary mission to protect the public by enforcing the highest professional and ethical standards and contributing to the advancement of public policy.
For more information, contact the CPABC Communications Team: news@bccpa.ca
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