The short-term impact of new developments on property values.

Timelines come into play when answering this question. As Dosanjh says, “If you have a whole bunch of brand-new developments completing at the exact same time, the way that we're seeing it happening in the likes of, say, Brentwood or the City of Surrey, you do see the values of homes start coming down, but that's a short-term blip.” A sudden influx of new inventory could push property values down briefly, as Dosanjh notes. But that is not the whole story. “We're at an interesting moment right now where we have just this massive supply that is coming up for completion because of the way the market just took off in 2022 in the pre-sale space. But over the long term – and you've got to think long term in the Metro Vancouver market – it all balances back to equilibrium,” elaborates Dosanjh. That means considering property values in concert with your future plans. “If [an] individual called me, I would ask him or her what their short to medium to long-term goals are. Are they planning on moving tomorrow? Then maybe, yes, you might be affected,” says Dosanjh. But if you plan to stay in your neighbourhood for the long term, you’ll likely see your property values rise again. In fact, if you live in a single-family home, land assemblers may come knocking offering large sums of money for your coveted property.

The long-term impact of new developments on property values.

Real estate in Metro Vancouver is best viewed as a long-term investment, according to Dosanjh. Therefore, a more useful analysis of neighbouring property values when a new development arrives would look ahead a few years. “I'm on the side of the argument that I think any new development in a neighbourhood is actually positive for the community at large,” says Dosanjh. “What actually could happen over time is, with the rise of all this new development coming to your area, it's going to bring a refreshedness to the neighbourhood that can actually get more younger people wanting to live there,” he adds. Therefore, you should consider the fact that adding new development in your neighbourhood could actually make it more desirable, which in turn attracts more people, which would drive up your property value. In fact, one of the factors that BC assessment considers when valuing your home (which is not the same thing as the market value of your home, but it works as a useful starting point), are improvements to the properties around you. Adding a new development could count toward that. Consider the case of Vancouver’s Olympic Village. This one-bedroom condo was initially built in 2013, sold first for $314,000 and was listed for $699,000 in 2025. That is more than twice the first price, and in the intervening 12 years, the area has seen plenty of new construction. “If you're looking to still live [in Greater Vancouver] for the foreseeable future, it's not something that I would worry about. Especially living where we live in Vancouver, where land in general is in such short supply,” says Manraj. Beyond property value itself, other aspects of new development could make your home more desirable for potential buyers, too. If you’re not convinced, Dosanjh recommends looking at comparable areas and developments to yours. For example, Mount Pleasant, Main St. in East Vancouver, Fraser St., Port Moody and many other areas in Greater Vancouver have seen influxes of new development, amenities and infrastructure. Rather than declining in value, they have all become highly sought-after places to live. Development often in turn leads to “[bringing] a whole new energy in, and then all of a sudden, you got Breka opening up their fourth location in Surrey City Centre, which is now going to have a 24 hour coffee shop, right…?” says Dosanjh. “There's just a lot of pluses that come with that.” So, instead of thinking that new development will push down property values, it is possible it will add amenities that raise your home’s desirability. While property values in Metro Vancouver do undergo short-term oscillations, the overall trend has been a sustained increase. When we consider that land is limited in Greater Vancouver, it makes sense that existing properties would be in constant demand. Because of the area’s beautiful surroundings and concentration of jobs, there is a steady influx of people looking to live here, meaning your property will always be appealing to someone.