Most BC residents expect cost of living rise

by Steve Randall02 Feb 2017
Four in five residents in British Columbia are expecting to pay more for groceries and gasoline in the next six months according to a new poll by Insights West.

Despite that, most (3 out of 5) believe that the provincial economy is doing well and confidence in BC’s fortunes has increased from January 2015.

Real estate prices split the poll’s respondents with just over half believing that prices will rise in the next six months. Increased regulations including the foreign buyers’ tax is expected to play a part in easing price increases.

A quarter said that they had worried about being able to pay their mortgage or rent and around a third concerned about paying bills, their credit card balance, unemployment and the safety of their savings.

Around a third of respondents plan to spend less on clothes, entertainment and holidays.

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