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
Related
US inflation holds for now
May's inflation reading came in cooler than expected, showing minimal tariff impact. We explore three potential explanations.
Jun 2025
Article
5mins read
canada’s labour market is splitting along tariff lines
Canada's labour market saw little change in May, though a deeper look at industry-level and regional data through 2025 shows that those most exposed to US tariffs have faced considerable challenges.
Jun 2025
Article
4mins read