{"id":12506,"date":"2019-05-15T10:10:04","date_gmt":"2019-05-15T17:10:04","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=12506"},"modified":"2019-05-03T09:52:30","modified_gmt":"2019-05-03T16:52:30","slug":"immigrant-demand-to-fuel-housing-activity-in-the-largest-cities","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2019\/05\/immigrant-demand-to-fuel-housing-activity-in-the-largest-cities\/","title":{"rendered":"Immigrant Demand to Fuel Housing Activity in The Largest Cities"},"content":{"rendered":"<p style=\"text-align: justify;\">Immigrants, mostly young individuals and households, will account for a significant portion of renewed housing demand in Canada\u2019s largest cities, according to RBC Economic Research.<\/p>\n<p style=\"text-align: justify;\">The millennial influx will be especially important in light of the increasingly important role that the tech industry is plating in Canadian real estate. Considering the nation\u2019s status as a world leader in innovation, a significant portion of the demographic is expected to work in the technology sector.<\/p>\n<p style=\"text-align: justify;\">In 2018 alone, approximately 28,200 net non-permanent residents (mostly students and temporary workers) originated from overseas, and 3,800 net migrants moved from other parts of the country to Canada\u2019s most active metropolitan markets.<\/p>\n<p style=\"text-align: justify;\">\u201cIn total, Canada\u2019s three largest cities saw a net inflow of 108,400 millennials from other countries and provinces last year. So for every net millennial lost to other cities in the same province, Vancouver, Toronto and Montreal collectively gained roughly eight net millennials from abroad or other parts of the country,\u201d RBC stated in a recent study.<\/p>\n<p style=\"text-align: justify;\">The analysis added that this inward movement more than offsets any market weakness, and even actually improves overall purchasing power due to the growing number of high-earning tech professionals.<\/p>\n<p style=\"text-align: justify;\">\u201cIn recent years, [the largest cities] welcomed approximately half of all new immigrants aged 20-34. We don\u2019t see this share really weakening in the period ahead\u2014except perhaps temporarily in Montreal while the newly elected Quebec government trims immigration levels provisionally to improve immigrants\u2019 integration outcomes.\u201d<\/p>\n<p style=\"text-align: justify;\">And these markets can expect these pipelines to keep flowing for the foreseeable future, with the federal government\u2019s stated commitment to step up its annual immigration target from 330,000 this year to 350,000 by 2021.<\/p>\n<p style=\"text-align: justify;\">\u201cAll three cities benefit from thriving economies and cultural scenes. In our view, this will keep the net flow of young talented migrants strongly positive overall despite further growing losses of millennials to more affordable cities.\u201d<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.canadianrealestatemagazine.ca\/news\/immigrant-demand-to-fuel-housing-activity-in-the-largest-cities-256992.aspx\" target=\"_blank\" rel=\"noopener noreferrer\">Immigrant Demand to Fuel Housing Activity in The Largest Cities<\/a> by Ephraim Vecina | Canadian Real Estate Wealth<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Immigrants, mostly young individuals and households, will account for a significant portion of renewed housing demand in Canada\u2019s largest cities, according to RBC Economic Research. The millennial influx will be &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2019\/05\/immigrant-demand-to-fuel-housing-activity-in-the-largest-cities\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-12506","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Immigrant Demand to Fuel Housing Activity in The Largest Cities &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2019\/05\/immigrant-demand-to-fuel-housing-activity-in-the-largest-cities\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Immigrant Demand to Fuel Housing Activity in The Largest Cities &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Immigrants, mostly young individuals and households, will account for a significant portion of renewed housing demand in Canada\u2019s largest cities, according to RBC Economic Research. 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