RENNIE OUTLOOK 2020
With all of 2019’s data in, we are pleased to share the 2020 edition of the rennie outlook, which presents our predictions for a selection of housing, economic, and demographic indicators for BC and Metro Vancouver based on the latest trends and information about our market. What does the change in resale market trajectory in the second half of 2019 mean for 2020? After a decidedly slow year for pre- sales last year, what can we expect this year? Will our robust rates of population growth continue? And after deceleration as 2019 came to a close, will regional economic growth pick back up again in 2020? In making these assessments, we would be remiss not to acknowledge the significant uncertainty imparted on our market, and economies around the globe, due to the emerging global health crisis. As the ultimate scope of the impact cannot be known at this time, our outlook rests on an evidence-based approach to projecting market changes in 2020. We will continue to monitor how the situation evolves and its impact on this range of economic and demographic indicators. For each element considered, our outlook is indicated by either an increase over recent trends (an “up” arrow), a decrease (“down” arrow), or a similar level (a “side-to-side” arrow).
table of contents .
2 INTRO
3 HOUSING
5 POPULATION
7 ECONOMY
We hope you find the 2020 rennie outlook useful.
Ryan Berlin Senior Economist rberlin@rennie.com
Andrew Ramlo VP Intelligence aramlo@rennie.com
Copyright © 2020 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 6, 2020. All data from RealEstateBoardof 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 All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies.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. 2
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