For years, first-time buyers in the Lower Mainland were told to wait. Today the numbers look different.

Prices are lower than a year ago

The Greater Vancouver apartment benchmark is $682,500, down 6.2% year over year. In New Westminster the composite benchmark is $719,600, down 8.2%. In the Fraser Valley, the apartment benchmark is $461,800 and townhomes are $745,300.

You have choice

With active listings well above long-term averages in both Greater Vancouver and the Fraser Valley, you can compare homes, negotiate and include subject clauses that protect you.

The tax savings are real

BC's First Time Home Buyers' Program exempts you from property transfer tax on the first $500,000 of the price for homes with a fair market value up to $835,000, with a partial exemption up to $860,000. On a $700,000 condo, that saves you up to $8,000.

Other tools worth asking about

• A First Home Savings Account (FHSA) for tax-free saving toward your down payment

• The federal First-Time Home Buyers' GST rebate on eligible new homes

• 30-year amortizations for first-time buyers on insured mortgages, which lower monthly payments

Our advice

Get pre-approved first, know your all-in budget, and focus on buildings with healthy strata finances. We review strata documents with every buyer.

Ready to start? Call City To Suburb Real Estate Group at 604-626-1483 or email info@citytosuburb.ca and we'll walk you through every step.

Sources: Greater Vancouver REALTORS® and Fraser Valley Real Estate Board September 2026 reports; Government of BC First Time Home Buyers' Program. Confirm eligibility with your lawyer, notary or mortgage professional.