Demand for housing in British Columbia is expected to increase this year and next, driven by employment growth and an increasing population, according to the Canada Mortgage and Housing Corporation (CMHC).
The average price for home sales across the province is forecast at $550,400 in 2014, with an increase in higher-end here.
Unemployment in BC and Alberta increased by temporary foreign worker program
The unemployment rate in Alberta and British Columbia was accelerated over the last decade by changes to federal government policy, which made it easier for employers to hire temporary foreign workers (TFWs), says a recent C.D. Howe study.
`A temporary foreign worker program is unlikely to be a comprehensive solution to labour shortages,` said Dominique Gross, a professor in the school of public policy at Simon Fraser University.
Employment opportunities in northern BC projected to increase
Over one million jobs are expected to open up in B.C. by the end of this decade. And many of those will be in Central and Northern B.C., not in the Lower Mainland.
Some parts of the North are already feeling the demand for workers.
