Canada Population keep Growing!!

What does the raising population for Canada mean?

Canada celebrated a great year, despite the foreign policy changes for international students and immigrants. Canada, the population grew at a 3.2% clip, one of the fastest rates in the world. The world's population will top 8 billion on New Year's Day.

Canada brought in1.25 million new residents to international migration, having accepted 454,590 permanent residents and 804,690 non-permanent residents in the year ending Oct. 1, 2023. The influx brings the national population to 40.5 million and making Canada the fastest growing G7 nation.

The U.S. Census Bureau today projected the U.S. population will be about 356 million as of Jan. 1, 2024. This represents an increase of 1,759,535 (0.53%) from Jan. 1, 2023, and 4,443,957 (1.34%) from Census Day (April 1) 2020.

𝐂𝐚𝐧𝐚𝐝𝐚'𝐬 𝐏𝐨𝐩𝐮𝐥𝐚𝐭𝐢𝐨𝐧 𝐒𝐮𝐫𝐠𝐞: 𝐈𝐦𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬 𝐟𝐨𝐫 𝐑𝐞𝐚𝐥 𝐄𝐬𝐭𝐚𝐭𝐞

Canada experienced its most rapid population growth since 1957, with an increase of over 430,000 people in Q3 2023. This surge has profound implications for our housing and rental markets.

𝐊𝐞𝐲 𝐈𝐦𝐩𝐚𝐜𝐭𝐬 𝐨𝐧 𝐇𝐨𝐮𝐬𝐢𝐧𝐠 𝐚𝐧𝐝 𝐑𝐞𝐧𝐭𝐚𝐥 𝐒𝐞𝐜𝐭𝐨𝐫𝐬

🔹 Increased Housing Demand: The increase in population would likely increase the demand for housing, potentially driving up property prices esp. in Cities.

🔹 Rental Market: More permanent residents mean increased demand for rental properties, which would in turn increase rental prices. The government have made a few attempts to fix the inventory issue.

🔹 Construction: It is expected that construction and real estate development would increase.

🔹 Affordability: As housing and rental costs might rise faster than income growth, affordability could become a more pressing concern.

𝐄𝐦𝐛𝐫𝐚𝐜𝐢𝐧𝐠 𝐭𝐡𝐞 𝐅𝐮𝐭𝐮𝐫𝐞

As we head into 2024, it's crucial for investors to understand these dynamics and adapt their strategies accordingly. The growing population in Nova Scotia and other low-density provinces. They would provide opportunity to increase revenue in these provinces and building innovation hubs that would benefit the Canadian economy.