CPABC: Population growth rate reaches multi-decade high in the Cariboo
15 Julio 2024 - 12:13PM
According to
BC Check-Up: Live, an annual report
by the Chartered Professional Accountants of British Columbia
(CPABC) on demographic and affordability trends across the
province, the Cariboo’s population grew by 2,119 residents in 2023,
bringing the total population to 170,432 residents.
“Population growth accelerated in the Cariboo, similar to what
we saw province-wide,” said Corey Naphtali, CPA, CA, partner at
KPMG Canada in Prince George. “International arrivals accounted for
the majority of population growth in 2023.”
Between July 1, 2022, and July 1, 2023, the Cariboo region
gained 2,334 residents from other countries, more than half of whom
were non-permanent residents aged 17 to 22. The region also gained
972 residents from other parts of B.C. This was partially offset by
593 residents moving to other provinces and natural growth (births
minus mortalities) reducing the population by 594 people.
“Migration from other parts of B.C. to the Cariboo picked up
drastically during the past two years,” continued Naphtali. “It’s
certainly a positive given our region’s aging labour force and
persistent skilled labour shortages.”
The average age of a resident in the Cariboo in 2023 was 42.3,
slightly below the provincial average of 42.5 but up from 41.3 in
2018. Seniors (aged 65 and older) made up one-fifth of the
population, compared to 17.1 per cent five years earlier.
In 2023, construction began on 296 housing units in the region’s
largest municipalities, Prince George, Quesnel, and Williams Lake,
less than half of the 600 starts recorded in 2022.
As of July 2023, the average assessed property value in the
region’s major municipalities increased from July 2022:
- Prince George: $460,049 (up 12.0 per cent)
- Williams Lake: $383.548 (up 15.9 per cent)
- Quesnel: $345,673 (up 12.6 per cent)
“Despite recent increases in shelter costs, the Cariboo remains
an attractive destination for BC residents due to relatively
affordable housing and a wide array of economic opportunities,”
concluded Naphtali. “Making sure the housing supply keeps up with
our growing population is an important policy objective for the
region to maintain that advantage.”
To learn more, see www.bccheckup.com.
About CPA British Columbia
The Chartered Professional Accountants of British
Columbia (CPABC) is the training, governing, and regulatory
body for over 40,000 CPA members and 6,000 CPA candidates and
students. CPABC carries out its primary mission to protect the
public by enforcing the highest professional and ethical standards
and contributing to the advancement of public policy.
CPABC Media Contact:Jack Blackwell,
Economist604.259.1143news@bccpa.ca