Blog by Evon Mayer

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Future Surrey/White Rock

Tomorrow’s Surrey/White Rock

According to a ground-breaking report by BCREA’s new economics team, the

 

future of Surrey/White Rock will include lots of older people looking to buy

 

townhomes and condos!

 

Their first-ever report, Surrey/ White Rock Long-Term Housing Report, released on January 25,

 

projects long-term demand for housing in Fraser Valley’s largest and most populous municipalities,

 

plus projections of population and household growth, age groups and residential construction over the

 

next 25 years. Some highlights:  The Surrey/White Rock population is expected to double, increasing by

 

225,000 residents by 2031. That’s the equivalent of the current populations of Kelowna and Vernon combined moving to Surrey/White Rock.  71 per cent of owners of the additional households are projected to be aged 65 or older by 2026-2031.

 

Residential construction is projected to average 3,900 - 4,000 units per year through 2021, and then moderate to 3,400 units in 2026-2031. What will dominate residential construction will be multi-family homes, increasing to 70 per cent of total housing starts by 2026-2031.

 

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