The Conservatives Take a Majority Government in BC and What That Means for You

What happened

On October 24, British Columbians elected a BC Conservative majority government, and Lorne Doerkson will become premier. Preliminary counts give the Conservatives about 64 of 93 seats, well over the 47 needed for a majority. A few ridings are close, and certified results are expected November 18.

You may have seen this called a first in nearly a century. As CBC put it, right-leaning parties like the BC Liberals and Social Credit have governed this province since then, but this is the first time since 1928 that a party running under the Conservative name has won a majority. However you frame it, it is a major change, and the first time since 2017 that the NDP will not hold government.

What the new government has said about housing

The Conservative housing platform is mostly about building costs and speed. It promises to cut construction taxes and charges, approve homes “in months, not years,” overhaul the BC Energy Step Code, and give municipalities more say over where density goes. In the party’s words, that “needs to be a decision of local government and local residents, not bureaucrats in Victoria.”

After the election, Mr. Doerkson said his first priority in the legislature is raising the basic personal exemption to $32,000. He also said his government will not raise taxes or introduce new ones, and that it will launch an independent review of the province’s finances.

What isn’t changing, at least not yet

This is the part I would ask every homeowner to read closely.

• Speculation and vacancy tax and the foreign buyers tax. At the October 14 leaders’ debate, Mr. Doerkson said of the speculation tax and the foreign buyers tax, “I will keep those in place.” That was a spoken answer; I have not seen a written commitment or a post-election statement. The rate in law is 1% for Canadian owners in 2026 and 2027, and 3% for foreign owners in 2026, rising to 4% in 2027.
• Property transfer tax, including the further 2% on residential value above $3 million, is unchanged. No change has been announced.
• School tax. Under Budget 2026, the Additional School Tax rises for the 2027 tax year to 0.3% on value between $3 million and $4 million and 0.6% above $4 million. The new government has not said whether it will keep it, and its “no new taxes” pledge does not clearly cover an increase that is already scheduled.
• The federal foreign-buyer ban runs to January 1, 2027 unless Ottawa extends it. That is Ottawa’s decision, not Victoria’s; the federal finance minister says the government is weighing its options.
• Interest rates. On October 28 the Bank of Canada raised its policy rate a quarter point to 2.5%, its first hike since 2023, and said it “could” need to go further. The next decision is December 9.
• Density rules. Bill 44 (small-scale multi-unit housing) and Bill 47 (transit-oriented areas) stay in force until the legislature amends them.

West Van and North Van specifics

In West Vancouver, the province’s April order adopting the Ambleside Centre Local Area Plan is still in force. The District also faces a November 2 deadline, set out in the housing minister’s September 18 letter, to adopt ground-oriented multi-family zoning, and planning for Park Royal–Taylor Way continues. A government that favours local control could ease the pressure of future directives, but nothing announced so far changes the orders already made.

Locally, West Vancouver elected a new mayor, Kirk LaPointe, on October 17, and the City and District of North Vancouver re-elected Linda Buchanan and Mike Little.

Where the market sits today

The most recent Greater Vancouver Realtors figures are for September (October data is not out yet). West Vancouver detached sales rose to 41 while active listings fell from a year earlier. Above $3 million, detached supply works out to roughly 23 months at the September sales pace, and there were no sales between $4 million and $5 million. North Vancouver detached is closer to balanced, at about 6.5 months of supply. The months-of-supply figures are calculated from GVR’s sales and listing counts rather than published by GVR.

My view: what it means for the market

This is my opinion, not a forecast. I expect the change in government to help confidence more than it changes the numbers right away. Lower building costs and faster approvals are good for supply over time. More local control over density could slow some of the upzoning pressure on single-family neighbourhoods. For owners of detached homes that cuts both ways: less change on your street, but possibly less redevelopment value for lots that were in line for more density.

What I don’t expect is quick relief on the taxes that matter most at the luxury end. The transfer tax and the 2027 school tax increase are still on the books, and the premier-designate’s only word on the speculation and foreign buyers taxes is that he would keep them. Right now, higher interest rates matter more to a $3 million-plus buyer than anything happening in Victoria.

Thinking about your options?

If you are weighing a sale in the next year, I am happy to prepare a confidential valuation of your home based on recent sales, the listings you would be competing with, and the rules as they stand today. There is no obligation. Reach me at dj@djdenner.ca or 604.773.5204.

— DJ Denner, Angell Hasman & Associates

Sources

1. CBC News, Oct 25, 2026
2. The Canadian Press via ConstructConnect, Oct 26, 2026
3. BC Real Estate Association, Oct 27, 2026
4. BC Ballot: Conservative Party platform and debate statements
5. Province of BC: Speculation and vacancy tax rates
6. Province of BC: Property transfer tax
7. Province of BC: Budget 2026 tax backgrounder
8. National Post / Bloomberg, Oct 7, 2026
9. Bank of Canada, Oct 28, 2026
10. Order in Council 134/2026 (Ambleside Centre Local Area Plan)
11. Housing minister's letter to the District of West Vancouver, Sep 18, 2026
12. Vancouver Sun: North Shore municipal election results, Oct 17, 2026
13. Greater Vancouver Realtors, September 2026 market statistics (released Oct 2); months of supply calculated from GVR sales and active listing counts

Seat counts are preliminary until Elections BC certifies results. Facts are sourced; opinions are marked as mine. This is general information, not tax or legal advice.