RENNIE OUTLOOK 2025
Uncertainty and instability have been the hallmarks of our economy and housing market over the past five years.
We’ve endured rising and high inflation; rising and (relatively) high interest rates; and a slew of federal, provincial, and municipal policies that have impacted immigration flows, housing construction costs, and the rental market. Now, with much of the macroeconomic and policy turbulence having seemingly been absorbed, there’s hope that certainty and stability are poised for a comeback. With changes coming to Canada’s federal government, however, and with a “US-first” administration now in charge south of our border, new questions are emerging about the direction of Canada’s economy and the outlook for housing markets across the country, including here in Metro Vancouver. This is where the rennie outlook comes in. In this report, 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 following pages 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.
table of contents .
2 INTRO
3
SALES & CONSTRUCTION
5
HOME PRICES & RENTS
7
DEMOGRAPHICS
9 JOBS, INFLATION, WAGES, RATES
Thanks for reading.
Ryan Berlin Head Economist & Vice President of Intelligence rberlin@rennie.com
Ryan Wyse Lead Analyst & Market Intelligence Manager rwyse@rennie.com
Roman Meltzer Market Analyst rmelzer@rennie.com
Copyright © 2025 rennie group of companies. All rights reserved. This material may not be reproduced or distributed, in whole or in part, without the prior written permission of the rennie group of companies. Current as of January 29, 2025. Data from the Greater Vancouver and Fraser Valley Boards, Statistics Canada, Zonda Urban, CMHC, & rennie. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E. 2
Made with FlippingBook - professional solution for displaying marketing and sales documents online