Real estate careers needed
Photo: The Canadian Press
If you are about to embark on a career in the B.C. Interior, real estate agent or developer might be the way to go.
A new report predicts the provincial real estate industry faces “transformative changes” due to B.C.’s shifting demographics, and the Thompson-Okanagan region is one of the main areas driving the evolution.
The Real Estate Institute of BC report, titled Demography & Demand, indicates a new generation of talent will be required to fill roles in the industry, which is facing a wave of retirements, attrition and steady immigration over the next five to 10 years.
Between 2021 and 2041, the Thompson-Okanagan population is projected to grow by 271,697 people, which is an increase of 44%, and the housing stock is expected to increase 53%, which translates to 138,231 homes. As a result, the region will need employment growth of 20%—or 5,389 workers—to account for retirements and 53%—or 13,419—to make up for the increase in housing stock.
“The future of real estate in British Columbia depends on our ability to adapt to these changes, both by supporting the next generation of professionals and by addressing the evolving needs of our population and communities,” REIBC president Clayton Olson said in a press release.
“This report shows that preparing for this transformation to ensure a robust labour force and improved process efficiencies will require collaboration across government, educational institutions, and industry leaders to ensure the resilience and sustainability of the real estate sector.”
The full report can be found here.
Photo: Contributed
