FORT ST. JOHN, British Columbia, July 18, 2024 (GLOBE NEWSWIRE) — 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, Northeast B.C. added 455 residents in 2023, bringing the region’s population to 70,119 residents.
“Following five years of negative population growth between 2017 and 2021, it is good to see two consecutive years where the Northeast added residents,” said Alan Bone, CPA, CA, partner at Sander Rose Bone Grindle. “International migration has made a big contribution to growing our population, especially since we have been consistently losing residents to other provinces and regions.”
Northeast B.C. welcomed a net of 1,275 residents from other countries during the year ended July 1, 2023, almost doubling the 677 recorded the year prior. Natural growth (births minus mortalities) also increased the population count by 301 people in 2023. Conversely, the region saw a net outflow of 694 residents to other provinces and lost 427 residents to other regions in B.C.
“While natural growth did give our population a boost, it has been slowing over the last decade,” continued Bone. “Even with the youngest population in the province, we aren’t immune to the effects of population aging.”
The average age in Northeast B.C. was 36.8 in 2023, over five years younger than the provincial average (42.5). Still, the number of residents aged 65 and older has increased by 21.9 per cent since 2018, while the number of people in all other age groups has fallen over the last five years. Seniors made up 12.4 per cent of the population in 2023, up from 10.1 per cent in 2018.
“Longer-term demographic shifts underscore the importance of attracting residents in their core working years to help support a growing number of retirees,” remarked Bone. “One of the biggest advantages the region has is relatively affordable housing.”
Despite recent population growth, Northeast B.C.’s population has fallen by 507 people, or 0.7 per cent since 2018. In contrast, there were 415 housing units started in Fort St. John and Dawson Creek over the same timeframe, which has allowed Northeast B.C. to maintain its affordability advantage relative to other regions. The average price of a house sold in the South Peace region was $317,337 in June 2024, down 0.7 per cent from June 2023. For comparison, the average price of a home sold province wide was just under $1.0 million.
“To ensure sustainable growth in Northeast B.C., attracting new residents and providing meaningful economic opportunities will be key,” concluded Bone. “It’s important that residents benefit from the region’s robust natural resource sector, and that we encourage future investment in those industries.”
Learn more about the BC Check-Up: Live report.
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.
