People from other provinces are no longer flocking to the Thompson-Okanagan in droves, according to a new report by the Chartered Professional Accountants of British Columbia.
鈥淲e lost more residents to other provinces than we gained,鈥� said Karen Christiansen, FCPA, FCA, in a press release. 鈥淎s a result, population grew at the slowest pace since 2013, despite above-average international migration.鈥�
The BC Check-Up: Live report found that between July 1, 2023, and July 1, 2024, the Thompson-Okanagan lost a net of 709 residents to other provinces. By comparison, the region had gained an average of 4,185 people per year through interprovincial migration from 2013 to 2023.
Helping to boost the region's growth were 8,409 residents from other countries and 4,116 from other parts of B.C. who came in 2024. However, natural growth 鈥� the number of births minus the number of deaths 鈥� reduced the region's population by 2,575.
鈥淭he concern is that poor housing affordability is causing people to consider other parts of Canada as a place to call home,鈥� said Christiansen. 鈥淭here has been substantial residential investment in the region, particularly in 麻豆精选, but home prices aren鈥檛 necessarily coming down.鈥�
All told, the Thompson-Okanagan added 9,241 residents in 2024, bringing the region's population to 666,712.
While the report notes there is economic uncertainty affecting the region, it states housing markets have been resilient through the first half of 2025. The average price of a home sold in the Okanagan was $761,358 in July 2025, two per cent higher than the average sale price during the first seven months of 2024.
In Kamloops, the average sale price increased by one per cent to $614,497 for the same period.
Year-to-date sales were up 8.1 per cent in the Okanagan and one per cent in Kamloops as of July 2025, compared to 2024.
In the rental market, the vacancy rate increased in 麻豆精选 (1.3 per cent to 3.8 per cent) and more modestly in Kamloops (1.3 per cent to 1.4 per cent) in 2024. Average rental rates also increased in 麻豆精选, up 6.7 per cent and 3.4 per cent, respectively, compared to 2023.
鈥淚ncreasing the housing supply will alleviate some of the pressure on housing markets in the region, now and also in the future,鈥� said Christiansen.
鈥淭here are still challenges, though, like finding ways to bring building costs down and ensuring that the most in-demand types of homes are being built.鈥�
