Residential Real Estate Review Study Based on 2019 Data
* some of these statistics will have been affected by COVID

Kamloops Population Growth
Justifies Housing Demand!


Expected Population
Growth Rate

Over the Next 10 years

New Units
Per Year

Over the Next Decade

Supply Increase Needed
Over Historical Averages

To Meet Expected Demand

Over the decade a growing and changing population would see the housing stock in the City of Kamloops need to grow from 41,000 occupied units today to almost 47,000 by 2029, and further to 50,400 by 2039. Put another way, in order to accommodate the nine percent projected growth in the city’s population projected between 2019 - 2029, the city’s housing stock would have to grow by almost 5,500 homes; an additional 3,700 homes would be required between 2029 - 2039.

The data provided in the full report is a high-level overview of the demographic, economic and real estate market data for the City of Kamloops and the neighbourhoods of interest. The full report used various data sources to give a synopsis of the current environment and historical changes within the City of Kamloops, as well as providing a forward-looking outlook.

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Supply and Demand
for Housing in Kamloops


Kamloops
Area
Average Completed Units
Per Year (2016-2019)
2019 Total
Completions
Estimated
Completions 2020
North Shore 22 - -
Downtown 48 - -
TRU Southgate and Dufferin 68 - -
Sahali West End 48 - -
Total Average in Areas of Interest 186 - -
Total Average New Units in the Rest of Kamloops 254 - -
Total Average New Units Per year in Kamloops Overall 440 1074 786

Proforma Info

A pro-Forma and residual land analysis of three different development scenarios including multi-family sites in North Kamloops and Downtown. The site sizes, FSRs and unit counts are all derived from recent development applications in the area, while sale and lease prices (per square foot) have been drawn from current market buildings.

The first two columns from the left represent developments which are lower and medium densities and are based on different site sizes. The right-hand column represents a higher density project and is reflective of a smaller site size. Each of the scenarios presented on the pro-forma show positive land values, ranging City of Kamloops BC Step Code Incentive Programbetween $39 and $44 per buildable square foot. These include all of the aforementioned hard and soft costs already factored in, as well as a 12% profit margin for the developer.

These calculations are meant to provide an illustrative framework to analyze potential development sites in the City of Kamloops. Further research would be required on site specifics when evaluating investment opportunities, such as allowable zoning uses or any site remediation required.

View Proforma Data
VK FAST FACT
POPULATION GROWTH

The population of Kamloops is expected to grow by 5,000 people between 2017 and 2022.