CPABC: Vancouver Island loses residents to other provinces, consistent with the provincial trend
2024年8月2日 - 3:13AM
According to
BC Check-Up: Live, an annual report
by the Chartered Professional Accountants of British Columbia
(CPABC) on demographic and affordability trends across the
province, Vancouver Island and Coast (excluding Greater Victoria)
added 6,825 new residents in 2023, bringing the total population to
500,292 people.
“Population growth slowed compared to 2022 but remained in the
range we’ve come to expect in recent years,” said Woody Hayes,
FCPA, FCA. “Most of the growth came from people already living
in B.C. relocating to the region.”
The region gained 6,350 net new residents from other parts of
B.C., similar to the number recorded in 2022. An additional 3,121
net new residents migrated to Vancouver Island and Coast from other
countries. Meanwhile, natural growth (-2,579) and interprovincial
migration (-67) both reduced the region’s population count.
“We gained just under 3,000 residents from other provinces in
2022, that number turned negative in 2023,” continued Hayes. “The
outflow of residents is a growing concern for many parts of B.C.,
and for us in particular given the region’s advanced age.”
The average age of a Vancouver Island resident living outside of
Greater Victoria was 47.2 years old, nearly 5 years older than the
provincial average of 42.5. More than a quarter (28.7 per cent) of
the region’s population was 65 years of age or older, up from 25.5
per cent in 2018.
“With the oldest population in the province, the need to attract
younger residents who can support our aging population is evident,”
noted Hayes. “That is becoming increasingly challenging, as housing
affordability has worsened significantly over the last five
years.”
Across Vancouver Island, the benchmark price for a single-family
home was $773,200 in June 2024, up 3.4 per cent year-over-year and
60.0 per cent higher compared to the June 2019 benchmark. The
benchmark price for an apartment was $404,100, marking an increase
of 1.3 per cent from June 2023 and 56.0 per cent over five
years.
“Home prices have skyrocketed, and the increase has been fairly
consistent across property types,” concluded Hayes. “Growing the
housing supply and promoting policies that encourage local
investment are two critical areas of focus that require
collaboration between all levels of government. Addressing
affordability and providing economic opportunities in the region
will help attract skilled workers.”
To learn more, see www.bccheckup.com.
About CPA British Columbia
The Chartered Professional Accountants of British
Columbia (CPABC) is the training, governing, and regulatory
body for over 40,000 CPA members and 6,000 CPA candidates and
students. CPABC carries out its primary mission to protect the
public by enforcing the highest professional and ethical standards
and contributing to the advancement of public policy.
CPABC Media Contact:
Jack Blackwell, Economist
604.259.1143
news@bccpa.ca