The latest BCREA Market Intelligence: COVID-19: Population Growth and Housing Demand examines how the sharp drop in immigration this year due to the global pandemic has impacted the BC housing market.

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.

Here to read the full report:
[gview file="https://vanhomesales.com/wordpress/wp-content/uploads/2020/10/COVID-19-Population-Growth-and-Housing-Demand.pdf"]
For more information, please contact: Gino Pezzani.