BC Real Estate Landscape: Where do we go from here?
Updated: Nov 1
West(coast) is best. =)
1) The entire country is still in recovery mode.
Below are screenshots of our employment growth rate, Vancouver's job recovery, BC job loss archetype, BC's strong in-migration, unemployment down to 6.2%, the depleted housing supply, presale activity, inflation up to 4% and mortgage rates trend.
2) Metro Vancouver is doing relatively well.
We are seeing low cases of mortgage in arrears and we have strong interprovincial in-migration. Uncertainty in the global equities market over the past year has increased the attractiveness of other assets -- real estate included.
3) Metro Vancouver is poised for growth in 2022.
We are not out of the woods yet, but 3/4 of businesses surveyed are optimistic about the future.