CPABC Industry Update Summer 2015 - BC Real Estate Industry | Page 4

Real Estate Industry in BC
$48 billion investment

Finance, Insurance, Real Estate & Leasing Industry:

25% of BC’s total GDP.

1

in residential real estate in BC by
consumers in 2014.

Industry employed

Source: BCREA

153,500

Economic Spin-Off
Average BC residential housing
transaction generated $64,500
in related expenditures in 2011.

British Columbians
in 2013.1

Source: BCREA

$884 Average weekly earnings of British Columbians

in the real estate and rental and leasing industry.
Source: Statistics Canada, CANSIM Table 281-0083, May 2015

BUILDING PERMITS BY THE NUMBERS

Permits Issued by Sector

Value of building permits
issued in British Columbia
rose 22% in the first
five months of 2015
compared to 2014.
(unadjusted, Jan-May 2015
versus same period in 2014)

+30.4%
Industrial
+3.7%
Commercial
+8.8%
Institutional
& Government -1.6%

Residential
Construction

-5 0 5 10 15 20 25 30 35
Source: BC Stats, residential & non-residential building permits, July 8, 2015

Residential Real Estate Outlook
HOUSING MARKET UPDATE2
Average Home Prices

Greater Vancouver $922,326
Fraser Valley $572,888
Victoria $536,553
Okanagan Mainline $409,162
Kamloops $318,020
Kootenay $296,011
BC Northern $262,384

Source: BCREA Housing Market Udpate, July 2015

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