Each year, rennie intelligence puts together a report describing short- and long-term demographic changes expected in the Lower Mainland and how these changes will affect future housing demand as it compares to expected new housing supply.
Key highlights
- Following changes to Canada’s immigration targets, net international migration to the Lower Mainland is expected to increase from 33,000 people in 2016 to a peak of 46,000 by 2023.
- A continuation of below-replacement levels of fertility will persist, meaning migration will play an increasing role over time in growing the regional population.
- Accommodating the region’s future growth will require upwards of 500,000 new homes to be added by 2041, which translates to an average of more than 20,000 net new units each year.
- While current housing completions are higher than this, they have historically fallen well below this level once adjusted for demolitions.
Gain new insights into the Lower Mainland’s housing market through the rennie outlook.
Our rennie intelligence division empowers individuals, organizations, and institutions with data-driven market insight and analysis. Experts in urban land economics, community planning, shifting demographics, and real estate trends, their strategic research supports a comprehensive advisory service offering and forms the basis of frequent reports and public presentations. Their thoughtful and objective approach truly embodies the core values of rennie.
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