(JOHN MCDONALD / iNFOnews.ca)
May 13, 2023 - 6:00 PM
It doesn’t look like the Kelowna region is backing down from its title as the fastest growing major city in the country from 2016 to 2021.
The Central Okanagan Economic Development Commission’s latest statistical update shows a 2.8% population growth from 2021 to 2022, reaching 235,473 for the region (known as the Kelowna Census Metropolitan Area).
Lake Country led the way with a 5.9% increase.
But the most startling statistic, credited to Canada Mortgage and Housing Corporation, is that housing starts are up 217.7% in the first quarter of this year compared to 2022.
That’s a total of 1,115 starts this year, with the vast majority (1,011) being multi-family units.
The report doesn’t break down the starts by community.
Despite the increase in housing starts, the value of building permits issued fell by 22% in the first quarter of the year to $281.9 million.
That may change in the next quarter with things like an $85 million permit that was issued by the City of Kelowna this week.
READ MORE: Rec centres or affordable housing? Kelowna council needs to get its priorities straight: builder
The labour force has grown by 3,900 this year to 116,667 while the total number of people employed grew by almost 7,700 to 112,300 compared to last year.
There was a 6.6% increase in job postings during the quarter, with sales and service occupations leading the way with a 31.4% increase
Business licences are up 4.1% so far this year and the number of people flying in and out of Kelowna International Airport is up 56.2% in the first three months of the year to 512,462.
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