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Metro Vancouver's population surpassed the 3 million mark in 2024, growing 4.3% to 3.1 million. This was the highest annual growth rate amongst BC's largest CMA's, followed by Abbotsford-Mission (+3.1% to 221,000), Kelowna (+2.0% to 252,000), and Victoria (+1.7% to 441,000).
Canada's unemployment rate, which has been trending upwards for more than two years, declined marginally in December to 6.7%. BC's unemployment rate, which has remained well below the national average, increased last month to 6.0%.
After a record-setting year for construction starts in Metro Vancouver in 2023, the pace of construction completions hit a new high for the region last year. There were 25,614 homes completed in 2024, 1.5% more than the previous high set in 2021.
the rennie landscape | Vancouver | Fall 2024
We are pleased to present our Fall 2024 edition of the rennie landscape. In this edition of the rennie landscape—which we've tailored to Metro Vancouver—we explore elements of economic and demographic change, along with many others, to help shed light on how and why our housing markets are evolving the way that they are—and what could lie ahead.
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Though time will ultimately tell, our early take is that falling interest rates do appear to be stimulating housing demand in BC's resale markets.
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PODCASTS
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from sea to sky, opportunities abound
December 2024 • Episode 70
sales burst and population bust
November 2024 • Episode 69
conquering inflation, at a cost
October 2024 • Episode 68
to buy or not to buy (now)?
September 2024 • Episode 67