2026 Burnaby Market Forecast

by William Lew

As we enter another year in Metro Vancouver real estate, Burnaby continues to stand out as one of the most balanced, resilient markets in the region.

Forecasting real estate isn’t about guessing — it’s about reading patterns. After 30 years in the industry, I’ve learned to focus on the fundamentals that drive lasting trends rather than the short-term noise.

Here’s my take on where Burnaby is headed in 2026.

1. Demand Remains Strong Despite Rate Sensitivity

Interest rates will continue to influence buyer confidence, but Burnaby’s location and amenities keep demand stable. With immigration targets remaining high and limited new housing supply, the city’s well-connected hubs — Brentwood, Metrotown, and Lougheed — will stay active.

Expect more balanced conditions: fewer bidding wars, but steady sales volume in desirable price ranges.

2. Condo and Townhome Markets Lead the Way

While detached homes remain expensive, the condo and townhome markets will dominate in 2025. Buyers looking for affordability and convenience will continue targeting Brentwood and Metrotown, while families eye townhomes in North and South Burnaby for space and value.

Developments near SkyTrain lines will continue outperforming the wider market.

3. Rental Market Tightens Further

With limited purpose-built rental inventory and continued population growth, Burnaby’s rental market will stay extremely tight. Expect rent increases of 5–8% across most unit types. Investors will find long-term stability and low vacancy risk.

4. Appreciation Outlook

Price growth in 2026 will likely moderate compared to previous years but remain positive — around 2-3% citywide. Homes near major transit nodes and good schools will outperform.

5. Pre-Sales and Construction Activity

Expect cautious optimism. Developers are moving forward with projects, but construction costs and financing remain challenges. Pre-sales in Brentwood and Lougheed will attract strong investor interest thanks to long completion timelines and proven performance.

6. Buyer and Seller Advice

For Buyers: Focus on long-term livability and transit access. The right property will perform well even if the market cools.
For Sellers: Price strategically. With balanced conditions, the homes that sell will be the ones that present the best value and show beautifully.

The Bottom Line

Burnaby remains one of the safest and most strategic markets in Metro Vancouver — steady, connected, and built for the future.