Victoria has fallen in its standing as a desirable urban centre for millennials in Canada, according to the real estate experts at Point2.
In a rank accounting for home prices, income, health care, climate, life satisfaction and four other indicators, the capital fell from second to the eighth in the eyes of Gen Y.
Quebec City remains in the number one spot, followed by Ottawa, Kingston, Halifax, St. John’s, New Westminster and Levis, Quebec, which have moved between Victoria and number 2.
In 2018, the city had a lot going for its coveted position among the second-youngest working generation, some of which still holds true today. The Garden City has the second-largest share of millennials at 27 per cent of the population and, of course, the country’s fairest climate. Our income and unemployment rankings improved between 2018 and 2021 as well, improving to 25th and seventh, respectively.
However, Victoria endured two major backslides in the last four years according to Point2. The quality of our healthcare system and access to quality care dropped from 26th to 38th. Life satisfaction – a measure of social connections, lifestyle options and other spices of life – fell from number 1 in the country to 39th.
Saanich found itself in the 24th overall position of Point2’s millennial ranking. Nanaimo was behind the middle of the pack at 58th, while Langley found itself ranking last of the 85 cities surveyed. Data for the ranking was pulled from Statistics Canada, Numbeo, CREA and real estate associations, according to Point2.
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