Here is a summary of a presentation CMHC Langley made recently. The highlights are as follows:
• Job growth in Metro Vancouver will continue to support housing demand (Chart 1).
• Mortgage interest rates are forecast to start edging higher later in 2013.
• Population-based demand for housing will remain strong, with an estimated 30,000 people (net migration) forecast
to relocate to the Vancouver region next year.
• BC Stats estimates that approximately 18,000 new households will be added to the Lower Mainalnd on an annual
basis, generating demand for rental and ownership housing (Chart 2).
I hope you have a great weekend! Let me know if you have any questions regarding the above statements.