04/07/2022
BC saw net migration of more than 100,000 people last year, the highest number in 6o years.
Over 33,000 came from other places in Canada. It is my understanding a lot came from Alberta and Ontario. Anecdotal evidence suggests jobs and the way we handled Covid were the reasons for the migration within Canada . The remaining people 67,141 people came from other countries, the second highest international migration rate on record.
What does this mean for us? We need more housing. Real estate is going to keep on going up until we bring on more supply. Even with more supply real estate will still be a good investment - why? It is just so wonderful living here, isn't it?
Year-end data from Statistics Canada show a net total of 100,797 people moved to the province in 2021