![\"Vancouver](\"https:\/\/www.livabl.com\/articles\/wp-content\/uploads\/2022\/01\/gabriel-santiago-3LOlnKre5XE-unsplash.jpg\")
<\/a>Photo: Gabriel Santiago<\/a> \/ Unsplash<\/a><\/em><\/p>\nReflecting similar situations in Toronto and Montreal, Vancouver saw its population drop last year as people increasingly left the city for surrounding areas in search of affordable housing.<\/p>\n
According to\u00a0estimates\u00a0by Statistics Canada<\/a>, after rising from 664,156 to 700,015 between 2016 and 2020, Vancouver\u2019s population decreased for the first time in 45 years during 2021. It dipped 6,780 for a total of 693,325.<\/p>\n Nearly two years into the COVID-19 pandemic, the population shifts reflect changing priorities as Canadians turn away from major cities, seeking more space to work from home or start a family.<\/p>\n Increased demand for single-family homes and reduced affordability has sent buyers searching for properties in the Fraser Valley. This is away from Vancouver\u2019s higher prices and limited supply.<\/p>\n Surrey led British Columbia in population growth last year. It added\u00a013,004 new residents for a total population to 614,600. Langley welcomed 4,702 newcomers to reach 166,400.<\/p>\n <\/p>\n Housing affordability played a key role in the population shift. The benchmark price for a single-family detached home in the Fraser Valley<\/a> reached $1,500,000 by the end of 2021. That’s an increase of \u00a039 per cent year-over-year. It is still well below Vancouver\u2019s mark of $1,910,200.<\/p>\n Similarly, Fraser Valley townhouses and apartments reported benchmarks of $765,800 and $549,200. That’s significantly lower than $1,004,900 and $761,800 in Vancouver.<\/p>\n