Q1 2023 Financial Results
Canada: Demographics and Housing Market
Population Growth Rebounding
Immigration Pushing to Record Levels
500
Proposed Immigration
000s
2.5
annual % change
Canada
Euro Area
United States
United Kingdom
450
2.0
Japan
France
Italy
400
350
1.5
Annual Average Immigration
300
1.0
250
0.5
200
0.0
150
100
-0.5
50
-1.0
0
-1.5
08 09 10 11 12 13
14
15 16 17 18
19
19
20
20
21
21
22
222
Sources: Scotiabank Economics.
70s 80s 90s 00s 17 18 19 20
23
Sources: Scotiabank Economics, Statistics Canada, Ministry of Immigration, Refugees &
Citizenship Canada.
21 22
24
Canadian Residential Housing Inventory Rising
12
months of inventory, SA
10
8
6.
4
2
Housing Supply Still Tight in Key Markets
Toronto
Vancouver
18
8
units per 10,000 pop.,
end of period
units per 10,000 pop.,
end of period
Multi-Unit
16
Multi-Unit
14
Single-Detached
6
Single-Detached
12
2002-20
10
average
1992-2020
average
2
864
2
0
03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22
0
0
92
96
00
04
08
12
16
20
Sources: Scotiabank Economics, Statistics Canada.
02 04 06 08 10 12 14 16 18 20
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