How Vancouver Real Estate is Impacted by Immigration

November 24th, 2008 Categories: Real Estate News, Vancouver Housing Market, Vancouver Real Estate

Statistics Canada shows Vancouver’s population continues to increase. Vancouver real estate is hugely impacted by inmigration, from other provinces and international. British Columbia and Canada’s population is growing.

Canada’s population posted its highest quarterly growth since 1991 in the second quarter of 2008, with an increase of 125,800. The advance was mainly due to a rise in net international migration which, at 91,600, reached its highest level since the end of the 1980s.

As of July 1, 2008, Canada’s population was estimated at 33,311,400. From April to June, Canada’s population grew by 0.38%.

The increase in net international migration over the second quarter of 2008 is mainly explained by an increase in both the number of immigrants and non-permanent residents.

Between April and June, 69,200 immigrants entered Canada, nearly 7,600 more than the same quarter a year earlier but below the peak of almost 74,500 observed in the second quarter of 2005.

Immigration was up in all provinces and territories. New second-quarter records were reached in Prince Edward Island, Manitoba, Saskatchewan and Alberta. Ontario, which traditionally received more than half of Canada’s immigrants, fell below the 50% mark for the sixth quarter in a row.

2006 Census shows the largest immigrant population living in Vancouver is from Eastern Asia, followed by Southeastern Asia and Southern Asia. The next largest group is the UK, then North, West, East and Southern Europe.

See who speaks what lanuage in Vancouver.

From a settlement of 1000 in 1881 which was mainly due to the Fraser Canyon Gold Rush, the city now has over 600,000 residents and over 2 million in Greater Vancouver and is Canada’s third largest city.

Archaeological evidence shows that coastal Indians had settled the Vancouver area by 500 B.C. British naval captain George Vancouver explored the area in 1792. Vancouver was founded as a sawmill settlement called Granville in the 1870s. The city was incorporated in 1886 and renamed after Captain Vancouver.

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