Immigration Projections

(November 2009)

For the next 25 years “net” immigration into B.C. remains strong and is estimated to be between 50,000 to 65,000 per year. That means for the next 25 years “over a million people” will be moving to B.C. to live, work and play. A large percentage of that million plus people will be looking for housing in Metro Vancouver. As you can see from the graph on the back page, since 2002 immigration into B.C. has increased peaking in 2008 at about 70,000 then projected to drop slightly to about 62,000 by 2010 and remain above 60,000 until 2027 with a slight decline to the 50,000 level projected by 2035. Historically housing starts(homes built) in B.C. from 2003 to 2009 have been 15,000 to 20,000. This takes up some of the demand but puts strong pressures on existing housing and therefore prices. We are currently back to selling small one bedroom downtown condos at $700 (plus) per sq.ft. so we are now at and in some cases above the peak that was reached in 2007.

Immigration Projections Graph 

Give me a call if you would like to get together for a chat.

I’ll tell you what I know.

Sincerely,

Thomas Lee

(Est. Since 1979)

“Experience to Serve You Better”
Coldwell Banker Westburn Realty