Is Victoria running out of housing?
Not quite — but the data is closer to that than most newcomers expect.
Greater Victoria's vacancy rate has sat below 1.5% for most of the last three years. The pipeline is finally turning over: about 4,400 units are under construction across the region as of May 2026, the highest figure in twenty years. Most of that supply is rental, most of it is in the Westshore, and most of it is years from move-in. Short version: things will get better — slowly — and only if council approvals keep moving.
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