City of Surrey City of Surrey Real Estate Forum Presentation Real - PowerPoint PPT Presentation

City of Surrey City of Surrey Real Estate Forum Presentation Real Estate Forum Presentation April 2008 April 2008

City of Surrey Context City of Surrey Context Area: 301 square km. Land area is equal to Vancouver/ Burnaby/Richmond combined.

Total Population In Surrey (1997 – – 2012) 2012) Total Population In Surrey (1997 521,340 520,000 496,750 500,000 509,520 468,300 480,000 482,560 460,000 437,685 452,400 440,000 Population 409,280 420,000 421,870 388,486 400,000 374,597 400,067 380,000 363,705 380,694 360,000 368,565 356,931 340,000 320,000 300,000 280,000 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 Year • Surrey's total population is estimated at 452,400 residents (December 2007). • Approximately 95,469 residents have come to Surrey in the past decade - average annual growth rate of 2.25% . • Population growth of up to 68,940 residents is projected in the five years between 2007 and 2012.

Total Number of Units by Housing Total Number of Units by Housing Type For Surrey (1997 – – 2012) 2012) Type For Surrey (1997 166,830 171,350 175,530 180,000 Apartment 161,760 160,000 118,056 120,233 121,777 123,673 125,674 128,131 131,879 134,861 139,074 144,471 150,025 156,370 Townhouse Single Family 140,000 120,000 Units 100,000 80,000 60,000 40,000 20,000 0 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 Year • 150,025 residential units in the City (December 2007). • Approximately 25,500 units will be added in the next five years. • By 2012, percentage of multifamily units will increase from 29% to 38% of stock.

In 2007 Ratio of 3: 1 Multi- - Family Family In 2007 Ratio of 3: 1 Multi

Trends in Commercial and Trends in Commercial and Industrial Construction Value Industrial Construction Value $350 $ Value of Construction (Millions Industrial $300 Commercial $250 $95 $200 $115 $35 $80 $50 $150 $37 $33 $100 $200 $27 $39 $51 $79 $170 $49 $46 $35 $48 $34 $42 $106 $129 $140 $130 $84 $109 $50 $35 $75 $64 $61 $64 $59 $57 $54 $52 $47 $32 $0 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 Year • In 2007 permits were issued for approximately $294 million dollars in industrial and commercial building construction value - approximately 3.1 million square feet of new business floor area.

Existing Existing Distribution of Distribution of Population Population Density in Density in Surrey Surrey • The majority of Surrey’s population (approx. 80% ) resides within OCP Urban/ Suburban areas. • Approximately 17% of Surrey’s population reside within the OCP Multifamily areas. • The remainder of Surrey residents reside in OCP Agricultural, Town Centre, Industrial, Commercial, Town Centre or other Land Use Designations.

Total Surrey Employment by Type Total Surrey Employment by Type Total Surrey Employment by Type (Dec. 2007) Farm Related Govt Related 6% 13% Industrial 37% Office Retail 13% 31% • Employment in Surrey (December 2007) estimated at approximately 142,580 jobs (City of Surrey Policy Planning Dec. 07) . • The estimated resident work force in Surrey is 211,000 (City of Surrey Policy Planning Dec. 07). • The current job to workforce ratio for the City is estimated at 0.68, which is a marginal improvement over 2006 (City of Surrey Policy Planning Dec. 07) .

Workplace of Surrey Residents Workplace of Surrey Residents Where Surrey Residents Work (2006) Langley (DM) Langley (DM) Surrey 5% Delta (DM) Richmond Surrey Vancouver 42% Burnaby Other Delta (DM) Other 9% Richmond 15% Vancouver Burnaby 8% 8% 13% • The pie chart shows commuting flows between GVRD cities/ Municipalities for employed persons. The chart first identifies the place of residence, followed by the place of work. Source: Statistics Canada 2006 Census

Concentration of Concentration of Surrey Residents Surrey Residents Who Use the Car Who Use the Car During Their During Their Commute Commute Mode of Transportation 90% Percent of Total Employed 80% 70% Labour Force 60% 2001 50% 2006 40% 30% 20% 10% 0% Vehicle Car Pool Public Transit Other Place of Work Status • Private vehicles were the primary mode of transportation in 2006 among Surrey’s employed labour force. • Between the 2001 and 2006 Census, the number of employed labour force using transit in Surrey increased slightly. 2006 Statistics Canada Census

Existing Existing Distribution of Distribution of Employment Employment Density in Density in Surrey Surrey • There are approximately 142,580 jobs in Surrey. • The vast majority (approx. 73% ) are located within the the OCP Industrial, Commercial, City Centre, other Town Centre Land Use Designation area. • The remaining employment is throughout Surrey’s OCP Agriculture and Urban/ Suburban areas.

Agricultural Agricultural Land Land Reserve in Reserve in Surrey Surrey Approximately 29% of • Surrey’s land base is in the ALR. Total Area of Surrey is • approximately 31,836 Hectares. Total area of ALR in Surrey • is approximately 9,280 Hectares.