Record-breaking population growth in BC has led to data projections that forecast a significant need for more housing—beyond what is already needed for existing residents.
The need for that data to be accurate is important as each order of government plans for expected growth. If the projections end up being too high, it could result in excess spending. But they are too low—the resulting lack of housing would be profound.
Heather McNell with Metro Vancouver Regional District shared more tempered data projections than BC Stats has published. The difference stems from how much immigration is expected to become BC’s new normal. Over the last decade, immigration to BC has hovered around 30,000 people a year—but it has dramatically increased in the last three years. Metro Vancouver’s statisticians anticipate that to be a short-term peak, not necessarily the new normal, however the actual flow of new residents is dependent on the federal government.
It is critical for all orders of government to have coordinated, accurate data that can inform policy and planning.
Presentations from the panel are available on the Housing Summit 2024 program page.