Throughout 2026, BCREA will be looking back to years past in celebration of our 50th anniversary. Join us as we break down some of the biggest moments for the Association and the real estate sector at large. 

Today, we look to 1986, a year remembered as a time of historic change and economic development for the province of British Columbia. BCREA’s president at the time was Marty Douglas, who remains among our ranks today as a Professional Services Support Advisor. 

In a January BCREA Bulletin newsletter article, Marty wrote that there was cause “for some real satisfaction as we enter 1986.” He added, “We can say with assurance that consumer confidence, bolstered by stable interest rates and a recovering economy, has returned in force.”  

At the time, the Canadian economy had shifted into an upswing, and Canadians were buying houses at a record pace. “In British Columbia alone,” Marty wrote, “over $1.4 billion in residential sales to the end of October serves to vividly illustrate this newfound confidence.” 

In describing the purchase trends at the time, Marty outlined that “many buyers were young, first-time purchasers, and a surprising number, close to 25 per cent nationally, were single.” 

Providing a snapshot of the market at the time, he described prices as having been “relatively stable,” and “forecast to show moderate, inflation-linked increases throughout 1986.”  

Housing starts were projected at 25,000 for the year, and there was a fair amount of enthusiasm around the forthcoming Expo 86, which was slated to bring increased attention to the province with hopes of a boost in sales. 

Of historical note, Marty went on to announce the formation of the BC Real Estate Foundation (now the Real Estate Foundation of BC), which continues to fund sustainable land usage initiatives to this day.  

In his article, Marty wrote about how, through the new foundation, the interest accrued from agents’ general trust accounts would benefit “not only the real estate industry, but the general public of British Columbia, through education, law reform, research, and other worthwhile programs.”  

Of final note, Marty also pointed to the development of a new “Contract of Purchase and Sale Form,” which was “the culmination of some two years of deliberation by a joint committee of the BC Real Estate Association and the Canadian Bar Association (BC Branch).” 

All of the above are interesting aspects that relate to our current market and serve as a reminder in these volatile times of the lasting nature of BC real estate’s boom / bust cycle. It also shows how many of the areas of focus back then remain issues of concern today. 

Stay tuned for further historical snapshots from years past in coming weeks! 

Photo credit: Colin Rose, Wikimedia Commons

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