CPABC: Vancouver Island population growth strong in 2022, housing completes up slightly
“Similar to the rest of the province, the pace of population growth has picked up across Vancouver Island over the past year,” said Woody Hayes, FCPA, FCA.
- “Similar to the rest of the province, the pace of population growth has picked up across Vancouver Island over the past year,” said Woody Hayes, FCPA, FCA.
- However, natural growth (births minus mortalities) has become increasingly negative, reducing the region’s population by 2,511.
- “While housing prices have declined in the past year due to high interest rates, housing affordability continues to be a major challenge,” noted Hayes.
- “Although there has been some increase in housing development in recent years, there has been insufficient growth in housing supply to keep pace with our population,” concluded Hayes.