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

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

City of Surrey Context City of Surrey Context

509,520 521,340 496,750 482,560 468,300 452,400 437,685 421,870 409,280 400,067 388,486 380,694 374,597 368,565 363,705 356,931

280,000 300,000 320,000 340,000 360,000 380,000 400,000 420,000 440,000 460,000 480,000 500,000 520,000

1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

Year Population

Total Population In Surrey (1997 Total Population In Surrey (1997 – – 2012) 2012)

• 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.

118,056 120,233 121,777 123,673 125,674 128,131 131,879 134,861 139,074 144,471 150,025 156,370 161,760 166,830 171,350 175,530

20,000 40,000 60,000 80,000 100,000 120,000 140,000 160,000 180,000

1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

Year Units

Apartment Townhouse Single Family

Total Number of Units by Housing Total Number of Units by Housing Type For Surrey (1997 Type For Surrey (1997 – – 2012) 2012)

• 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 In 2007 Ratio of 3: 1 Multi-

• Family

Family

$75 $64 $59 $54 $61 $32 $47 $52 $130 $84 $109 $170 $57 $64 $106 $129 $140 $200 $39 $35 $49 $48 $46 $35 $79 $42 $50 $27 $37 $35 $34 $51 $33 $80 $115 $95

$0 $50 $100 $150 $200 $250 $300 $350

1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007

Year

$ Value of Construction (Millions

Industrial Commercial

Trends in Commercial and Trends in Commercial and Industrial Construction Value Industrial Construction Value

• 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

• 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).

Total Surrey Employment by Type (Dec. 2007)

Govt Related 13% Farm Related 6% Office 13% Industrial 37% Retail 31%

Workplace of Surrey Residents Workplace of Surrey Residents

• 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

Where Surrey Residents Work (2006)

Langley (DM) 5% Other 15% Burnaby 8% Vancouver 13% Richmond 8% Delta (DM) 9% Surrey 42%

Langley (DM) Surrey Delta (DM) Richmond Vancouver Burnaby Other

Concentration of Concentration of Surrey Residents Surrey Residents Who Use the Car Who Use the Car During Their During Their Commute Commute

• 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 Mode of Transportation

0% 10% 20% 30% 40% 50% 60% 70% 80% 90%

Vehicle Car Pool Public Transit Other

Place of Work Status Percent of Total Employed Labour Force

2001 2006

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,

• ther Town Centre Land

Use Designation area.

• The remaining

employment is throughout Surrey’s OCP Agriculture and Urban/ Suburban areas.

• 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.

Agricultural Agricultural Land Land Reserve in Reserve in Surrey Surrey