Our challenge with this data analysis mandate was to create scenarios to help a developer define and understand the risks and opportunities for new multi-family construction in Surrey, B.C. in a Covid-impacted world.
We analyzed the correlation between various factors and new home sales over the past 10 years to identify which had the most impact on new sales and values in the South Fraser region. Using that data, we factored in pandemic constraints like changes in employment levels, reduced international travel and immigration to create a series of scenarios for future values and sales by making some assumptions as to how those factors will be affected by the pandemic-induced recession. Finally, we created a range of potential scenarios of what future sales volume might look like in 2021-2023 based on variations to the key demand-side drivers we identified in the correlation analysis.