With money provided, more than two-thirds of millennials would prefer to purchase or have a home on lease in Vancouver’s Lower Mainland. Insights West for Resonance Consultancy revealed in their poll that 68 per cent of British Columbians millennials would prefer to stay in the Greater Vancouver region, however, many prefer to move out of the province and relocate to another place.
The top places preferred by most people are Gulf Islands, Thompson Okanagan, Victoria, Kelowna and Vancouver Island South and other few provinces, despite with a percentage of 20 per cent of respondents, with the province left with a choice of 14 per cent.
In the next five years, 70 per cent of Millennials in BC are planning to relocate, most are planning to live in the same region even though a third might stick to moving out of the province.
About three-quarters of millennials residing in Vancouver are planning on purchasing a home there. President of Resonance, Chris Fair said; “There is a tremendous challenge ahead for policy-makers and politicians to make Greater Vancouver affordable and welcoming for Millennials who clearly want to live and work in the region.”