BC Stats released its quarterly population estimates and BC continues sluggish growth through Q4 2012.
Population growth consists of the following bulk components:
- Natural increase (births - deaths)
- Net interprovincial migration
- Net international migration (including permanent and non-permanent residents (NPRs))
So let's look at how recent quarters look in a historical context, here graphed since 1961 to show longer-term trends (there is seasonality so quarters are best compared to each other, also do not integrate these graphs, the total population is periodically adjusted during census counts):
Population growth through fourth quarter of 2012 is below its peak of late last decade, due in most part to net out-migration to other provinces and below-average net international migration. Annual growth has dropped 50% since its recent local peak in 2007, meaning annual population growth in 2012 was about 38,000 fewer than 2007. This will have a direct and negative impact on housing demand in the coming quarters. Interprovincial out-migration is of continued concern, with more people leaving the province for others than arriving.