the rennie outlook - Demographics, Housing Demand, and Housing Supply in the Lower Mainland
Jan 23, 2019
Written by
Ryan BerlinSHARE THIS
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.
Written by
Ryan Berlin
SHARE THIS
Related
the rennie landscape | Kelowna | Spring 2024
Twice a year, rennie intelligence produces the rennie landscape, which tracks a variety of demographic and economic indicators that directly and indirectly influence the housing markets of Metro Vancouver, Greater Victoria, and the Central Okanagan. Our goal is to provide our community with a basis for evaluating the trajectory of the factors that collectively define the context of the real estate market.
Apr 2024
Report
the rennie landscape | Victoria | Spring 2024
Twice a year, rennie intelligence produces the rennie landscape, which tracks a variety of demographic and economic indicators that directly and indirectly influence the housing markets of Metro Vancouver, Greater Victoria, and the Central Okanagan. Our goal is to provide our community with a basis for evaluating the trajectory of the factors that collectively define the context of the real estate market.
Apr 2024
Report