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As of the 2021 census, there were about 195,000 homes within the borders of the City of Surrey.
But over the coming decades, the number of homes in existence within Surrey would need to nearly double in order to keep up with demand and main a relative level of affordability.
According to the City of Surrey’s newly released 2024 interim Housing Needs Report, a total of 169,221 new additional homes would need to be generated within the jurisdiction over the next 20 years through 2043. This represents an increase of 87% over existing supply.
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A hotel suite located at the Marriott Pinnacle Hotel in Vancouver just sold, and along with the suite, the new owner is also getting some pretty nice perks.
Unit 2002 at 1128 West Hastings sold for $530,000, above the assessed value of $375,200 and slightly under the asking price of $535,000.
The hotel was built in 1999. While the suite is a fairly standard room, it has some cool benefits that might make some people consider investing in this type of real estate.
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Surrey is not expected to become the most populous city in Metro Vancouver anytime soon.
This is expected to be a long-term trend, too. Currently the second most populous city, Surrey also will not eclipse Vancouver’s population throughout the next quarter century through 2050, which is the upper extent of the forecast timeline.
According to Metro Vancouver Regional District’s newly released population growth estimates this week, the city of Vancouver will remain the most populous municipality in British Columbia, countering previous long-held expectations that Surrey will take the new lead sometime within the first half of the 21st century.
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B.C. businesses eligible for rent support from the federal government will be protected from evictions as the B.C. government issues a new order under the Emergency Program Act (EPA).