RENNIE OUTLOOK 2023
DOMESTIC MIGRATION
Since Q2 2020 (the beginning of the pandemic), British Columbia has attracted more domestic migrants, on a net basis, than any other province or territory in the country, at 44,900. For context, the second most popular destination has been Alberta (on the strength of a bumper Q3 2022 for net domestic migration to the province), attracting 27,400 people on a net basis; meanwhile, Ontario has shed the most people to other parts of the country, losing more than 78,000. Having said this, Q1 and Q2 2022 were marked by more modest quarterly net inflows to BC than had been experienced in the prior two years, and Q3 actually saw 4,800 more people leave the province for elsewhere in Canada, with all of that net loss—plus some—accounted for by Alberta (author’s note: curse the “Alberta Is Calling” campaign!).
OUR 2023 OUTLOOK With more modest net inter-provincial migration flows to BC expected in 2023, we expect Metro Vancouver to welcome 8,700 (net) migrants from other parts of Canada this year. With an expected 12,500 people (net) leaving Metro Vancouver for other parts of BC, the region would see a net domestic loss of 3,800 people.
DOMESTIC MIGRATION
Copyright © 2023 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 31, 2023. Data from the Greater Vancouver and Fraser Valley Boards, Statistics Canada, Zonda Urban, CMHC, & 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 All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies.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. 7
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