demographics
THE SIMPLEST OF EQUATIONS
How and where a region’s population grows depends almost entirely on where housing is being added. You don’t say…
With the initial batch of 2021 Census data having been released earlier this year, we were able to get our first view into how our communities changed over the preceding five years (dating back to the previous Census in 2016). Perhaps to enhance the drama associated with it all—or to help with user digestion of the data, or both—Statistics Canada releases its Census data not all at once but according to a predetermined schedule, with February’s release (the first of many in 2022) focussing on total population and total dwelling counts. Though there are countless insights we could have shared in this space, being limited to only 270 words means we’re required to stay focussed. As such, the insight we have to share here is that—wouldn’t you know it—population and housing growth are highly correlated. Put more colloquially, if you build it, they will come; if you don’t, they won’t.
Between 2016-2021, Metro Vancouver’s dwelling stock grew by 7.5% and its population grew by 7.3%, Within the region, it’s largest municipalities also saw a close correspondence between their dwelling and population growth rates: for Vancouver, it was 6.1% and 4.9%, respectively, and for Surrey it was 7.7% and 9.7%. Conversely, Port Moody’s dwelling stock, which grew by only 2.1% over five years, Housing isn’t the only factor influencing population growth, but it’s an important one (accounting for close to half the expected change in population). To the extent that communities are interested in not only creating diversity through new population additions but also in grown-up kids, greying seniors, and everyone in between having the option to remain in the community as they age, new housing supply should be given due consideration. yielded negative population growth, at -0.05% (a net loss of 16 people).
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