COVID-19: Population Growth and Housing Demand
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- Immigration is the most important driver of population growth in BC, with a growing share within the prime working-age and household-forming demographic.
- The global pandemic has resulted in a sharp drop in immigration and consequently BC reporting one of the lowest quarterly increases in population growth since 2011.
- In the short term, the impact of lower population growth will weigh most significantly on the rental market due to a significant reduction in international students and new permanent residents.
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