B.C. immigration crashes to 15 year-lows
Friday, October 2, 2015

Net number of immigrants down 66% in the first half of this year; could have strong real estate implications. As a panel discussion on foreign home ownership prepares to convene next week in Vancouver, the latest statistics show that international immigration to British Columbia has crashed to 15-year lows. 

The first half of 2015 has seen a net increase of less than 6,000 immigrants into B.C., compared with more than 18,000 in the same period last year.

This was the first time in more than 15 years, BC Stats said, that B.C. experienced a net loss of non-permanent residents. If the current trend continues, immigration to B.C. will fall below the annual inflow that forms a key foundation of housing demand forecasts.

The dramatic decline began in the fourth quarter of 2014 when net immigration fell to negative 1,808 people – meaning that many more people left B.C. for other countries than arrived. This was the first net loss of immigrants to the province in more than a decade.

 

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Source: Business In Vancouver.