City of SurreyCity of SurreyReal Estate Forum PresentationReal Estate Forum Presentation

April 2008April 2008

Area: 301 square km.

Land area is equal to Vancouver/ Burnaby/Richmond combined.

City of Surrey ContextCity of Surrey Context

509,520

521,340496,750

482,560468,300

452,400437,685

421,870409,280

400,067388,486

380,694

374,597

368,565

363,705

356,931

280,000300,000320,000340,000360,000380,000400,000420,000440,000460,000480,000500,000520,000

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

Year

Popu

latio

nTotal 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.

118,056 120,233 121,777 123,673 125,674128,131 131,879 134,861

139,074144,471

150,025156,370

161,760166,830 171,350

175,530

0

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

Uni

ts

ApartmentTownhouseSingle 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 MultiIn 2007 Ratio of 3:1 Multi--FamilyFamily

$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 2007Year

$ V

alue

of C

onst

ruct

ion

(Mill

ions

IndustrialCommercial

Trends in Commercial and Trends in Commercial and Industrial Construction ValueIndustrial 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

SurreySurrey• 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 TypeTotal 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%

Office13%

Industrial37%

Retail31%

Workplace of Surrey ResidentsWorkplace 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%

Other15% Burnaby

8%Vancouver

13%

Richmond8%

Delta (DM)9%

Surrey42%

Langley (DM)SurreyDelta (DM)RichmondVancouverBurnabyOther

Concentration of Concentration of Surrey Residents Surrey Residents Who Use the Car Who Use the Car

During Their During Their CommuteCommute

• 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

Perc

ent o

f Tot

al E

mpl

oyed

La

bour

For

ce 20012006

Existing Existing Distribution of Distribution of Employment Employment Density in Density in

SurreySurrey

• 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.

• 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 SurreySurrey