COVID-19: Population Growth and Housing Demand

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Summary Findings:

• 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.

For more information, please contact:
Brendon Ogmundson
Chief Economist
Direct: 604.742.2796
Mobile: 604.505.6793
[email protected]

Kellie Fong
Economist
Direct: 778.357.0831
Mobile: 604-366-6511
[email protected]

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