The Canadian Mortgage and Housing Corporation reports that rent price inflation has slowed in 2024 due to increased rental building completions and reduced immigration demands. Vacancy rates in B.C. are rising, with Vancouver's two-bedroom units averaging $2,314 and Victoria's at $1,993, both above the national average. Rent growth upon unit turnover remains high at 23.5%. The increase in rental stock is primarily in suburban areas, but many new units are unaffordable for lower-income renters.