<br />
KELOWNA<br />
ANNUAL HOUSING REPORT<br />
PREPARED BY POLICY & PLANNING DEPARTMENT - MARCH 2021<br />
EXECUTIVE SUMMARY<br />
Several sectors of Kelowna’s economy and housing system faced<br />
challenges due to the pandemic in 2020, but by the end of the<br />
year there were signs of recovery. The regional labour market<br />
saw total employment at the end of 2020 up from 2019 and mid-<br />
year population estimates suggest Kelowna experienced robust<br />
population growth throughout the pandemic. Overall, Kelowna’s<br />
economic resilience during the pandemic combined with strong<br />
population growth, fueled greater than expected demand for<br />
housing in 2020.<br />
It is still too early to know how the short-term shifts in the housing<br />
market associated with the pandemic might impact housing<br />
trends over the next 5-10 years. But, at the end of 2020 there<br />
were 4,700 units under construction with 84 per cent in the form<br />
of mult<a title="2020 Kelowna Annual Housing Report 2020 page 1" href="http://viewer.zmags.com/publication/a017803d?page=1"> KELOWNA ANNUAL HOUSING REPORT PREPARED BY POLICY </a>
<a title="2020 Kelowna Annual Housing Report 2020 page 2" href="http://viewer.zmags.com/publication/a017803d?page=2"> EXECUTIVE SUMMARY Several sectors of Kelowna’s </a>
<a title="2020 Kelowna Annual Housing Report 2020 page 3" href="http://viewer.zmags.com/publication/a017803d?page=3"> INTRODUCTION Each year, the Annual Housing Repo</a>
<a title="2020 Kelowna Annual Housing Report 2020 page 4" href="http://viewer.zmags.com/publication/a017803d?page=4"> industry, were both significantly impacted in 202</a>
<a title="2020 Kelowna Annual Housing Report 2020 page 5" href="http://viewer.zmags.com/publication/a017803d?page=5"> HOUSING WHEELHOUSE REPORTING The City of Kelown</a>
<a title="2020 Kelowna Annual Housing Report 2020 page 6" href="http://viewer.zmags.com/publication/a017803d?page=6"> What’s the City doing? The Journey Home Strategy </a>
<a title="2020 Kelowna Annual Housing Report 2020 page 7" href="http://viewer.zmags.com/publication/a017803d?page=7"> The big picture… Housing with supports plays a cr</a>
<a title="2020 Kelowna Annual Housing Report 2020 page 8" href="http://viewer.zmags.com/publication/a017803d?page=8"> What’s the data telling us? There were about 625 </a>
<a title="2020 Kelowna Annual Housing Report 2020 page 9" href="http://viewer.zmags.com/publication/a017803d?page=9"> What’s the City doing? Overall, a low vacancy rat</a>
<a title="2020 Kelowna Annual Housing Report 2020 page 10" href="http://viewer.zmags.com/publication/a017803d?page=10"> apartment housing. That being said, while row hou</a>
<a title="2020 Kelowna Annual Housing Report 2020 page 11" href="http://viewer.zmags.com/publication/a017803d?page=11"> THE HOUSING WHEELHOUSE: CONCLUDING REMARKS In 20</a>
<a title="2020 Kelowna Annual Housing Report 2020 page 12" href="http://viewer.zmags.com/publication/a017803d?page=12"> HOUSING INSIGHTS In addition to reviewing sp</a>
<a title="2020 Kelowna Annual Housing Report 2020 page 13" href="http://viewer.zmags.com/publication/a017803d?page=13"> down payment for a typical single-detached home i</a>
<a title="2020 Kelowna Annual Housing Report 2020 page 14" href="http://viewer.zmags.com/publication/a017803d?page=14"> Figure17:BuyersfromMetroVancouver&VancouverIsland</a>
<a title="2020 Kelowna Annual Housing Report 2020 page 15" href="http://viewer.zmags.com/publication/a017803d?page=15"> COVID-19 INEQUITIES INFLUENCING THE HOUSING MARKE</a>
<a title="2020 Kelowna Annual Housing Report 2020 page 16" href="http://viewer.zmags.com/publication/a017803d?page=16"> Figure 18: Percentage of Adults in Jobs Where Wor</a>
<a title="2020 Kelowna Annual Housing Report 2020 page 17" href="http://viewer.zmags.com/publication/a017803d?page=17"> Federal and provincial financial programs (CERB, </a>
<a title="2020 Kelowna Annual Housing Report 2020 page 18" href="http://viewer.zmags.com/publication/a017803d?page=18"> REFERENCES 1. City of Kelowna. (2018). Health</a>