According to the country’s preliminary estimates, Canada’s population hit 36,286,425 on July 1, an increase of 437,815.
A population hike of that magnitude has not been seen since 1988-1989 when the country added 485,034 people to its ranks.
New immigrants are the main drivers behind the population growth, with 320,932 total new Canadians now calling the country home. That total represents a record for immigration.
Many, of course, will seek to become homebuyers, adding thousands of potential clients to the pool of soon-to-be homebuyers.
Another main driver of population growth was the number of Syrian refugees who came to Canada.
“The arrival of Syrian refugees since November 2015 contributed to the increase in immigration in Canada. For the period covered by the current system of demographic accounts, which began in July 1971, the previous record was set in 2009/2010 (270,581 immigrants),” Statistics Canada said in a release. “The country had not received such a large number of immigrants in a single annual period since the early 1910s during the settlement of Western Canada.”
Stats at a glance
36,286,425 – Canada’s total population
+1.2% -- annual population percentage change
40.6 – the median age in Canada
+0.1 year – the annual chance in median age
Booming stats – due in large part to potential homebuyers – a good news for real estate professionals.