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Migration outpaces housing in Greater Victoria

7/20/2022

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A report by the Chartered Professional Accountants of BC has confirmed expectations that people are moving to Greater Victoria faster than homes can be built for them. Our region added 5,941 residents in 2021 bringing our regional population to 432,062. Going back five years, Greater Victoria has added 31,500 people. And, although 16,942 housing units have been completed in that time, they have not met the demands of the market.
 
“Across the region, there has been strong housing construction activity. However, developments have typically been smaller attached units replacing older stock, with limited mid-sized units,” said Chamber Governor Lindalee Brougham, President of LL Brougham Inc. “The strongest demand has been for larger units, which has put significant pressure on housing prices for family homes.”
 
All of the region's growth is coming from migration as people move here from other parts of Canada. Greater Victoria's natural growth remains negative as fewer babies are being born here compared to the number of residents dying.
Read the Report: BC Check-Up 2022
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  • Membership
    • Why Join?
    • Job Board
    • Member to Member Offers
    • Benefits, Discounts & Savings >
      • Chamber Store
    • Chamber Local
    • 1863 Impact Award
    • Questions & Answers
    • Join Now
    • Member Login
  • Member Directory
  • Events
    • Signature Events >
      • Annual Auction
      • Business Awards
      • Business Hall of Fame
      • Business Leaders Series
    • Event Calendar >
      • Chamber Events
      • Community Events
    • Event Photos 2023
    • Sponsorship
  • News & Advocacy
    • Weekly BizNews >
      • BizNews Articles
    • Advocacy / Wins for Business >
      • Advocacy Wins
      • Business Property Taxes
      • Advocacy Priorities
    • Chamber Chats
    • In the News >
      • Published Op-Eds
      • Media Releases
    • Non-market housing
    • Find and keep workers
    • Business Matters Magazine
    • COVID-19
  • The Chamber 1863
    • 1863-Indigenous
    • 1863-Early Chamber
    • 1863-History Events
    • 1863-Booms and Busts
    • 1863-Members & Communities
    • 1863-Women, people and organizations
    • 1863-Committees
    • 1863-Chairs and Chair Businesses
  • About Us
    • Emerge >
      • Emerge Events
      • Emerge Mentorship
      • Emerge Connect
    • Staff Directory
    • Board & Governance >
      • Governors
      • By-Laws, Plans & Reports
      • Committees
    • Chamber History
    • Partners & Sponsors
    • About Victoria >
      • Starting a Business
      • Moving Here
      • Visiting Victoria, BC
    • Contact Us