Mortgage delinquencies are rising in BC, creating shifts in the Greater Victoria housing market. This is primarily driven by homeowners facing mortgage renewal at higher interest rates and rising costs of living.
For the market, this suggests a potential increase in available properties and a cooling trend (more price reductions). The BC foreclosure process is lengthy and court-regulated, which mitigates the risk of sudden "fire sales" and provides a window for distressed homeowners to seek alternatives.
Professionals are advised to understand both the risks and opportunities of this evolving market, and homeowners are encouraged to seek early intervention with lenders to avoid default.
Across Canada, 2025 is bringing a noticeable rise in mortgage stress and foreclosures , and Greater Victoria isn’t immune. In this episode, we unpack what’s driving the trend, how it’s affecting local homeowners and buyers, and what investors should be watching. From early warning signs to smart strategies, we’ll help you understand where the market is heading next.
Join REALTORS Andrew Plank and Jane Johnston, along with Mortgage Specialist Jen Lowe, every Thursday at 9:30 to discuss topics of interest for buyers and sellers of Victoria Real Estate.
Jane Johnston // RE/MAX
www.briarhillgroup.com/
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Andrew Plank // Royal LePage
www.andrewplank.com/
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Jen Lowe // DLC Modern Mortgage Group
www.jenlowe.ca
