Tag Archives: market analysis

B.C. Mulls Changes to Weaken DRIPA

B.C. Mulls Changes to Weaken DRIPA, Shares Secret Document with First Nations Leaders

By Alessia Passafiume, The Canadian Press • March 24, 2026

Following two recent court decisions siding with First Nations under British Columbia’s Declaration on the Rights of Indigenous Peoples Act, Premier David Eby is considering amendments that would weaken the legislation.

First Nations leaders have called on Eby to leave the bill alone.

The bill, known as DRIPA, requires B.C. to take “all measures” to align the rights of Indigenous Peoples with existing provincial legislation. Amendments proposed in a confidential letter sent to some First Nations leaders in B.C. on Monday say the government is looking to amend the bill to promise “ongoing processes” to align select legislation with DRIPA. The provincial Declaration on the Rights of Indigenous Peoples Act, or DRIPA, was passed in 2019.

It’s based on the United Nations Declaration on the Rights of Indigenous Peoples, which requires free, prior and informed consent from Indigenous Peoples on matters affecting their rights, lands, territories and resources.

The federal government has similarly adopted the UN principle and is working toward its implementation, though its view is it does not constitute a veto on development.

Court Decisions and Government Response

Eby told reporters last week his government is trying its best to work with chiefs across the province to address concerns about the court decisions. They both cited DRIPA and sided with First Nations on mining and property rights, which the provincial government has said isn’t the intention of the law.

One found the provincial mineral claims regime is “inconsistent” with DRIPA, and another recognized the Cowichan Tribes’ Aboriginal title on land along the Fraser River, with titles held by Canada and the City of Richmond deemed “defective and invalid.”

In response to the mineral claims case, Eby has said it’s “crucial that it is British Columbians through their elected representatives that remain in control of this process, not the courts.”

“Too much rides on it in terms of our province’s prosperity and certainty going forward.”

— Premier David Eby

Economic and Relationship Implications

If the amendments are passed, it could complicate relationships between Indigenous Peoples and Eby’s government as it looks to get major projects built to boost its economy in the face of trade threats from the United States.

Eby has been facing growing questions over the future of the legislation, and has been criticized over the process in which changes are being discussed.

Confidential Proposals

The proposed changes have remained out of the public eye. The letter sent to First Nations leaders on Monday, which included a link to a document with details of the proposed amendments, said it was “subject to cabinet confidence” and was shared under a confidentiality agreement, which some leaders agreed to in order to allow for consultations.

The Canadian Press has viewed both documents.

Some First Nations leaders have told media they have yet to see the proposed amendments themselves, despite signing that confidentiality agreement.

The province is scheduled to host a briefing about the proposed changes with First Nations leaders on Wednesday, and those leaders are asked to provide feedback by 4 p.m. on Friday. A one-hour meeting for those leaders has also been set for April 1 with Eby, Attorney General Niki Sharma and Indigenous Relations and Reconciliation Minister Spencer Chandra Herbert.

The letter says the government is open to changes and acknowledges the “compressed timelines.”

Proposed Legislative Text Changes

The government document shows the existing wording of some sections of the law crossed out, with the proposed text of the changes underneath for First Nations leaders to review.

The “Purpose of the Act” section, as currently written in the law, says it is “to affirm the application of the Declaration to the laws of British Columbia.”

The proposed change for that section change instead says the government will “provide for the ongoing processes of the government working, in consultation and co-operation with the Indigenous peoples in British Columbia, towards aligning enactments with the declaration.”

The document also shows the provincial government is looking to replace a clause that says the government “must take all measures necessary to ensure the laws of British Columbia are consistent with the Declaration,” and instead says the provincial government will work toward aligning specific laws “identified as priorities.”

It continues that the province “may prepare a new action plan” for implementing DRIPA “at any time.”

Reactions

First Nations have said they do not support any changes to the legislation, while some B.C. Conservative MLAs have called for the law to be scrapped altogether.

The Union of B.C. Indian Chiefs, which advocates on behalf of more than 100 First Nations in the province, passed a resolution in February calling on the government to publicly commit to keeping the law as is currently written.

The Law Society of British Columbia has decried Eby’s intent to change the legislation in response to court rulings. In a statement released in February, the group said “politicians must take great care when commenting on judicial decisions and must avoid asserting or implying that courts are not properly playing their role.” Doing so, the group said, decreases confidence in the justice system.

“The Law Society urges the B.C. government to reconsider making any proposed legislative changes that would limit access to independent courts,” their statement reads.

— Law Society of British Columbia

Source: The Canadian Press • By Alessia Passafiume • March 24, 2026

With files from Wolfgang Depner in Victoria and Chuck Chiang in Vancouver

Shared by Li Read, Re/Max Salt Spring

March 2026 – Market Update – Salt Spring Island


March, 2026

Spring Arrives

Salt Spring Island

It’s March…and meteorological Spring starts on March 1st. Will it come in like a lion and go out like a lamb…or vice versa?

March can deliver bursts of winter, can enjoy soft spring, can showcase budding trees amid orchards, and begin the welcome rhythm of early Spring. Every day is seconds longer and with Daylight Saving Time arriving on March 8th, the great Pacific Northwest Coast will be enjoying later sunsets.

March Break & the Gulf Islands

Salt Spring Island

March Break in B.C. falls between the 16th and the 27th. Time to seek out a retreat experience? Salt Spring and the Gulf Islands offer the discovery of the natural world. Savour the trails and parks, walking/hiking pleasures, try ocean kayaking, enjoy the gallery openings, discover the artistic heart of the islands.

Alternative health options will soothe and regenerate…take part as we peel off winter’s cocooning. Hastings House reopens on March 19th. Time to appreciate the beauty of this graceful opportunity…the best of country hotel lifestyle. Breathe.

Market Reality

Salt Spring Island

The real estate market on Salt Spring and the Gulf Islands continues to follow the path of low inventory, relatively stable pricing, and no local market. Time lags remain a part of all sales. First, a potential buyer has to discover a marketing piece on a Gulf Island and be attracted by it. Then they research each of the islands, visit one, may or may not view properties, then will mull over impressions. If they reacted positively on that first discovery visit, they will return to view available options. It usually takes a third visit to clarify interest and also pricing…then the offer process begins.

Salt Spring Island

For several years, most buyers of Gulf Islands properties have come from Vancouver/Lower Mainland areas, and for the most part they need to sell to buy and are seeking a rural lifestyle opportunity. They are looking to be self-sufficient. A flight from urban to rural works well with that internet opportunity to work from anywhere. Ease of communication allows choice.

An Era of Profound Change

In an era of continuing profound change (impact of AI, global concerns, serious political upheavals), resulting in a time of hesitation in action, it’s difficult at this very beginning of March to suggest a developing trend. It may take until late April to understand the tone of the 2026 marketplace. Patience, resilience, opting for new over established, might be a plan. Important to listen and to practice periphery vision. In change, lies opportunity.

The Salt Spring Advantage

Salt Spring Island

It’s interesting that Salt Spring enjoys service from three ferry terminals…that it has easy proximity to Vancouver Island…that it’s possible to benefit from a year-round lifestyle (whether January or July), that one is able to be a part of an energizing community and can also commute to be elsewhere…there is a lot of choice in how one lives (as long as one remembers the Islands Trust form of governance. “To preserve and protect….” was put in place in 1974. The Trust information is online and one needs to read it before buying a property. The Trust applies to all Gulf Islands).

As we ease into Spring, keep informed…many shifts have been forecast for this 2026 year. Stay tuned might be the mantra?

Meantime, it’s March. Smile.

February 2026, Market Analysis

February 2026

Here Comes February

Salt Spring Island

So, here comes February. A short month, with hearts and flowers (yes, it’s romantic Valentine’s Day), and also the annual Family Day Holiday Weekend.

It’s also introducing the Asian Lunar New Year (begins on the 17th), and is the beginning of the Year of the Fire Horse. Are we all ready to gallop into new adventures?

It is daily getting lighter as we are on the path to June and the longest day of the year. Meteorological Spring starts on March 1st.

Early spring on Salt Spring Island

Weather & Market Outlook

February might continue January’s Pineapple Express weather with mild temperatures and early flowering…or it may say “not so fast” and throw real Winter our way. In either case, it’s a short and sweet month, and after the practice run of almost daily changes in 2025, we are probably now able to digest any further disrupting shifts.

Real estate in our secondary home/recreational area continues to be characterized by low inventory and relatively stable pricing. Potential buyers inquire, may turn up to view (no local market here), but offer outcomes still are full of hesitations. This scenario has been in place for almost five years. Will 2026 be the improvement year? Many forecasters think so.

Gulf Islands landscape

The Two-Step Dance

It’s always a two step dance in any buyer decisions: step one is to decide which Gulf Island to buy on. Then one decides what property to choose in that locale.

It all takes time for a buyer decision and most sellers understand it can take one to two years to sell their property. Days on market may be important in a primary residence/city market, but are meaningless in a secondary home/rural region, with no local buyer pool.

Balanced Market

~380

listings on Salt Spring

Current Inventory

~89

listings on VREB

Definitely low inventory! The desire to buy is still accompanied by caution, hesitancy, concern.

Pacific Northwest Coast

An Epochal Time of Change

The impact of tariffs, the geopolitical concerns, the individual wars and rumours of larger wars, the polarization of political issues…add in AI and crypto currency…by the time we arrive at the end of 2026, we may not recognize the earlier days of the year.

It’s ever more important to practice our peripheral vision. Tunnel vision, prepared for us to fall into, no longer works. We seem to be in an epochal time of change. We don’t get to choose our time, but we do get to choose our response. This may be our Gutenberg moment. Important to remember that in change lies opportunity.

Salt Spring Island

Ownership Considerations

Already own on Salt Spring or a Gulf Island? A good idea to retain. Trying to buy? Perhaps shared ownership would be a key to positive results? Allow one to build equity and move on?

It’s important to consider options and not assume there’s only one way to accomplish our dream.

Interested in Ownership?

Interested in ownership on Salt Spring or a Gulf Island? Look forward to helping you to discover your special opportunity. Wanting updated market information, to understand market effects on your property? Contact me. Your best interests are my motivation.

We are all lucky to be on this thin strip of coastal beauty known as the Pacific Northwest Coast.

It’s February…enjoy!

November 2025, Market Analysis

November Market Update: Fall Beauty & Winter Transition

November coastal landscape

November is still classic Fall. Meteorological Winter begins on December 1st. November introduces the seasonal shift of the coastal winter pattern: rain, wind, leaves drifting in fields and parks, and delivering the deciduous branches into their stark outlines.

November. Many grey moments when sea and sky and the misty land masses all mesh together into diminishing daylight. Standard Time reappears. Snow? On the mountains where it belongs. November has its own spare beauty…it invites soup recipes, fireplace cheer, and the quiet of interiors.

The Fall/Winter Real Estate Market

What about real estate in this Fall/Winter market? It can be surprisingly buoyant. Sometimes, potential buyers have visited and viewed in late Spring or Summer seasons, and they then return to see things at their worst. There is no real worst, however, and visitors are also surprised that Salt Spring enjoys a year round lifestyle…lots to see and do, and the cultural opportunities are everywhere.

Salt Spring Island winter activities

Current Market Conditions

Inventory Challenge

Low inventory remains an issue across all Gulf Islands

Seller Behavior

Owners holding properties, selling only when necessary

Buyer Interest

Safe haven rural lifestyle preferred over urban choice

The lack of inventory also remains an issue everywhere. Most owners continue to keep their properties, only selling if they have to. This is the same story on all the Gulf Islands and on Vancouver Island. The buyer desire continues to welcome a safe haven rural lifestyle over an urban choice. An investment in real estate still offers the option of a way to preserve capital…currency concerns continue. Buyers do respond to marketing and do inquire about properties…they may turn up to view…there continue to be pauses in offer outcomes. Uncertainty creates those pauses in final decisions.

Gulf Islands lifestyle

Navigating Times of Change

It’s difficult to make solid calls on anything in a time of societal change. Global concerns affect everyone. When one studies the impact of Gutenberg and his printing press in the 14th Century, or the beginnings of the internet world as a digital lifestyle in the 1990s, or the introduction of robotics/AI as a society-wide option in 2025, it is clear that shift offers new opportunities at the same time that long accepted activities are disappearing.

What to do? Remember that we all have an editing function. We can observe, recognize what’s passing, and what is possible to “re-use” with some changes. It requires that we remember we can decide (observe…edit…experiment…opportunity).

November on Salt Spring

Meanwhile, it’s November. The markets are officially over for the season, but some farmers continue to showcase late harvests. The bracken narrowing hiking trails has gone and the trails are active. Sunday sailing races take over the schedule. It’s easy to get to Mt Washington if skiing is your thing.


  • Enjoy seasonal menus at our great restaurants

  • Check out ArtSpring’s offerings

  • The Ganges galleries showcase new works

  • Live music venues invite you to enjoy
Salt Spring Island community activities

On Island? Participate in the Remembrance Day ceremony on the 11th.

The interesting thing is that we all have the option of seeking new opportunities. We can all be thoughtful about next steps. I recently saw an interview with an actress in a new film…turns out she was all AI…nothing human at all…one could not tell. Hmmm……

Everything will be affected. Time to let your mind meander through discoveries…there is always an answer to every question.

More information on real estate opportunities on Salt Spring and the Gulf Islands? Look forward to hearing from you.

June 3, Salt Spring Island – Market Update


June 3, 2025 Market Update

Buyers Remain Hesitant as Inventory Builds

May saw inventory levels across Metro Vancouver reach another ten-year high, while home sales registered on the MLS® remained muted.

The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 2,228 in May 2025, an 18.5 per cent decrease from the 2,733 sales recorded in May 2024. This was 30.5 per cent below the 10-year seasonal average (3,206).

“While there are emerging signs that sales activity might be turning a corner, sales in May were below the ten-year seasonal average, which suggests that some buyers are still sitting on the sidelines or are being especially selective,” said Andrew Lis, GVR’s director of economics and data analytics. “On a year-to-date basis, sales in 2025 rank among the slowest to start the year in the past decade, closely mirroring the trends seen in 2019 and 2020. It’s worth noting that sales rebounded significantly in the latter half of 2020, but whether sales in 2025 might follow a similar pattern remains the million-dollar question.”

Inventory Levels Surge

There were 6,620 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in May 2025. This represents a 3.9 per cent increase compared to the 6,374 properties listed in May 2024. This was 9.3 per cent above the 10-year seasonal average (6,055).

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 17,094, a 25.7 per cent increase compared to May 2024 (13,600). This is 45.9 per cent above the 10-year seasonal average (11,718).

Sales-to-Active Listings Ratios by Property Type:

  • Overall Market
    13.4%
  • Detached Homes
    10.2%
  • Attached Homes
    17.4%
  • Apartments
    14.7%

Market Dynamics & Price Pressure

Analysis of the historical data suggests downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

“With some of the healthiest levels of inventory seen in years, many sellers are adjusting price expectations, which has provided buyers more negotiating room and kept a firm lid on price escalation over the past few months,” Lis said. “From a seasonal perspective, sales in the summer months are typically quieter than the spring, but with such an unusually slow spring, we may have an unusually busy summer with so many having delayed their purchasing decisions. Either way, the market continues tilting in favour of buyers, which bodes well for anyone looking to make a purchase this summer.”

Benchmark Pricing Overview

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,177,100. This represents a 2.9 per cent decrease over May 2024 and a 0.6 per cent decrease compared to April 2025.

Property Performance Summary

Detached Homes

$1,997,400

  • • 654 sales (-22.7% YoY)
  • • -3.2% vs May 2024
  • • -1.2% vs April 2025

Apartment Homes

$757,300

  • • 1,087 sales (-18.8% YoY)
  • • -2.4% vs May 2024
  • • -0.7% vs April 2025

Attached Homes

$1,106,800

  • • 469 sales (-10.3% YoY)
  • • -3.4% vs May 2024
  • • +0.4% vs April 2025

Market Segment Report, April 6, 2025

2025 Market Segment Report, April 6, 2025



Salt Spring Island

We live in interesting times in all marketing options, including for real estate offerings.

It was very nice to receive recent acknowledgement from FeedSpot Top 100 Real Estate Blogs, for my consistent blogging.

Check this out: Feedspot Top 100 Real Estate Blogs

FeedSpot highlights many worthy real estate oriented blogs and awards them their badge.

I appreciated being noticed.

Thank you, FeedSpot.

Li.

As always, Stay Tuned!!