Sunday, November 6, 2022

Census 2021: 5 things about B.C. stats on immigration and religion

 

For the first time, a majority of Metro Vancouver residents now identify as a member of a racialized group, census data shows

New data from Statistics Canada released Wednesday provides a portrait of Canada’s immigrant population and ethnocultural and religious diversity.

It shows two urban centres in B.C. — Vancouver and Abbotsford-Mission — have among the highest proportion of immigrants, higher than the national average.

It also shows that the proportion of racialized people in the Metro Vancouver has surpassed 50 per cent for the first time.

Here are five things to know about the StatCan data for Metro Vancouver and B.C.:

42 per cent of Metro Vancouver’s population are immigrants

While immigrants make up nearly a quarter of all people in Canada, that figure is predictably higher in large metropolitan areas like Metro Vancouver.

According to the latest census, 1,089,185 people in the region identified as immigrants, representing nearly 42 per cent of the population.

That’s the second-highest proportion of immigrants in census metropolitan areas, second only to Toronto.

Abbotsford-Mission, at 26 per cent, also has a proportion of immigrants above the national average.

Across the province, 29 per cent of British Columbians identified as immigrants.

Statistics Canada also breaks down the proportion of immigrants by municipalities.

In B.C., Richmond tops the list, with about 60 per cent of residents identifying as immigrants. Burnaby comes second at 50 per cent, followed by Coquitlam at nearly 46 per cent.

(The census placed Electoral Area A as third, but that region comprises of areas including the University of British Columbia, the University Endowment Lands, Barnston Island, and lands along Howe Sound).


Recent immigration on the rise

Canada saw a record number of new immigrants arrive between 2016 and 2021 despite COVID-19 pandemic restrictions that curtailed numbers in 2020.

Over 1.3 million recent immigrants were permanently admitted into Canada from 2016 to 2021, accounting for nearly 16 per cent of all immigrants living in Canada in 2021, said Statistics Canada.

Metro Vancouver welcomed 154,815 new immigrants over the five-year 2021 census period, up about 8.6 per cent compared to 2016.

Despite the total increase, the percentage of newcomers coming to Metro Vancouver versus other parts of Canada remained steady at about 11.7 per cent.

Metro Vancouver has the third-highest percentage of recent immigrants after Toronto (29.5 per cent) and Quebec (12.2 per cent).

Visible minorities are now a majority — at least in Metro Vancouver

For the first time, the proportion of people of colour in Metro Vancouver has surpassed 50 per cent.

About 54 per cent of Metro Vancouver residents identify as a member of a racialized group, up from 48.9 per cent in the 2016 census.

Of these, more than one in three, or 36 per cent per cent, are made up of people of Chinese heritage. About 26 per cent are people of South Asian descent, and 10 per cent are of Filipino heritage.

In B.C., 1,689,490 out of about 4.9 million people, or 34 per cent, identify as a visible minority.

Richmond, Burnaby and Surrey are most diverse

Among municipalities, Richmond, Burnaby and Surrey have the highest percentage of people identifying as a racialized person in 2021 census data.

Richmond topped the list, with 80.3 per cent of residents belonging to a minority group. Burnaby is second with 67.8 per cent, followed closely by Surrey at 67.1 per cent.

B.C. is the most secular province in Canada

More than half, or 52 per cent, of British Columbians reported no religious affiliation in the 2021 census, considerably higher than the national figure of 34.6 per cent.

The only place more secular than B.C. is the Yukon, a territory where nearly 60 per cent reported they do not observe or practice a religion.

B.C. ranked second in the country with a large non-Christian population of 13.7 per cent.

Christians make up 34 per cent of British Columbians, followed by people who observe a Sikh religion — which at 5.9 per cent is the highest proportion in the country — Muslim (2.5 per cent), and Buddhists (1.7 per cent).

Nearly half of Metro residents aren’t religious

Number of people in Metro Vancouver reporting a religious affiliation in 2021.


Are you looking to buy or sell property? If you’d like, we can have a real estate expert show you the most efficient process that saves you thousands of dollars, a lot of time, with little or no inconvenience to you. Contact us today!

Source:  Vancouver Sun


Saturday, November 5, 2022

 

Home sale activity across the Metro Vancouver housing market continued to trend well below historical averages in October.

Sales

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,903 in October 2022, a 45.5 per cent decrease from the 3,494 sales recorded in October 2021, and a 12.8 per cent increase from the 1,687 homes sold in September 2022.

Last month’s sales were 33.3 per cent below the 10-year October sales average.

“Inflation and rising interest rates continue to dominate headlines, leading many buyers and sellers to assess how these factors impact their housing options,” Andrew Lis, REBGV’s director, economics and data analytics said. “With sales remaining near historic lows, the number of active listings continues to inch upward, causing home prices to recede from the record highs set in the spring of 2022.”

Listings

There were 4,033 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in October 2022. This represents a 0.4 per cent decrease compared to the 4,049 homes listed in October 2021 and a 4.6 per cent decrease compared to September 2022 when 4,229 homes were listed.

The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 9,852, a 22.6 per cent increase compared to October 2021 (8,034) and a 1.2 per cent decrease compared to September 2022 (9,971).

“Recent years have been characterized by a frenetic pace of sales amplified by scarce listings on the market to choose from. Today’s market cycle is a marked departure, with a slower pace of sales and more selection to choose from,” Lis said. “This environment provides buyers and sellers more time to conduct home inspections, strata minute reviews, and other due diligence. With the possibly of yet another rate hike by the Bank of Canada this December, it has become even more important to secure financing as early in the process as possible.”

Sales-to-active listings ratio

For all property types, the sales-to-active listings ratio for October 2022 is 19.3 per cent. By property type, the ratio is 14.3 per cent for detached homes, 21.6 per cent for townhomes, and 23.2 per cent for apartments.

Generally, analysts say downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

Home prices

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,148,900. This represents a 2.1 per cent increase from October 2021, a 9.2 per cent decrease over the last six months, and a 0.6 per cent decrease compared to September 2022.

Broken down by property type

Sales of detached homes in October 2022 reached 575, a 47.2 per cent decrease from the 1,090 detached sales recorded in October 2021. The benchmark price for a detached home is $1,892,100. This represents a 1.6 per cent increase from October 2021 and a 0.7 per cent decrease compared to September 2022.

Sales of apartment homes reached 995 in October 2022, a 44.8 per cent decrease compared to the 1,801 sales in October 2021. The benchmark price of an apartment home is $727,100. This represents a 5.1 per cent increase from October 2021 and a 0.2 per cent decrease compared to September 2022.

Attached home sales in October 2022 totalled 333, a 44.8 per cent decrease compared to the 603 sales in October 2021. The benchmark price of an attached unit is $1,043,600. This represents a 7.1 per cent increase from October 2021 and a 0.5 per cent decrease compared to September 2022.

Are you looking to buy or sell property? If you’d like, we can have a real estate expert show you the most efficient process that saves you thousands of dollars, a lot of time, with little or no inconvenience to you. Contact us today!

Source:  REBGV