Data Pack: rennie outlook 2021

RENNIE OUTLOOK 2021

DOMESTIC MIGRATION

Compared to the disruption to BC’s and Metro Vancouver’s international migration flows that Covid-19 brought in 2020, domestic migration was somewhat more resilient. This likely reflected, to varying degrees, the limited scope and enforceability of inter- and intra-provincial travel restrictions, a relatively effective response to the pandemic here in British Columbia, and a labour market that is outperforming most other provinces and the country’s largest metro areas. Domestic migration to BC was particularly strong in Q2 2020, despite the onset of the pandemic. During this period, British Columbia added almost 8,000 people from other parts of Canada, while Alberta, Saskatchewan, Manitoba, and Ontario combined to lose almost 9,000 people.

OUR 2021 OUTLOOK With a relatively favourable experience managing both the spread of Covid-19 and the ongoing functioning of the economy (compared to other provinces), BC will add up to 20,000 people through net domestic migration in 2021. Metro Vancouver can expect to lose up to 10,000 residents through domestic migration—all to other parts of BC.

DOMESTIC MIGRATION

Copyright © 2021 rennie group of companies. All rights reserved. This material may not be reproduced or distributed, in whole or in part, without the prior written permission of the rennie group of companies. Current as of January 18, 2021. All data from Real Estate Board of Greater Vancouver and Fraser Valley & Rennie. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E. 6

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