At the City of Surrey’s State of the City address, Mayor Brenda Locke emphasized safety, affordability, and growth as key priorities as Surrey continues its path toward becoming BC’s largest city by 2031 — a trend that will continue to shape housing demand and market activity across the Fraser Valley.
Major investments such as the SFU Medical School, the Surrey–Langley SkyTrain extension, and new civic infrastructure are expected to attract students, professionals, businesses, and new residents to the city, increasing the need for housing supply and development opportunities. Surrey already accounts for approximately 48% of all Fraser Valley home sales activity, underscoring its importance to the regional real estate market.
Housing affordability remained a major focus, with Mayor Locke noting that delays in development approvals ultimately increase rents, mortgages, and home prices. In response, the City is working to streamline approvals and accelerate development timelines, with single-family and garden suite applications now averaging approximately four weeks, down from ten. Faster approvals and increased housing supply are expected to play an important role in improving affordability and bringing more inventory to market.
“City Hall is no longer a place where we say no,” said Locke. “Rather [it’s] a place where we build a culture of ensuring good projects move fast, but not recklessly and not without standards.”
The Mayor also highlighted the importance of infrastructure investment, particularly the Surrey–Langley SkyTrain extension and future transit expansion, in supporting long-term growth and housing development. Improved transit connectivity is expected to influence where and how housing is built while helping support more complete, connected communities across the region.
For REALTORS®, Surrey’s continued focus on growth, housing supply, transit infrastructure, and streamlined development processes will remain key drivers of market conditions and housing opportunities in the years ahead.