Nova Scotia’s Population Growth in 2024: Key Insights from July 1st Data
As of July 1, 2024, Nova Scotia’s population reached 1,076,374, growing by 4,876 (+0.46%) since April 1. This steady growth is driven largely by immigration and non-permanent residents, despite natural population decline due to higher deaths than births.
Key Population Growth Factors:
Immigration: A record 4,335 immigrants arrived between April and June 2024.
Interprovincial Migration: Positive net inflow of +1,266, with Ontario contributing the most in-migrants.
Non-permanent Residents: The population grew by 18.6% year-over-year, adding significant numbers to Nova Scotia's total population.
Why Population Data Matters for Real Estate: Population growth directly impacts housing demand. A growing number of immigrants, interprovincial migrants, and non-permanent residents adds pressure to the housing market, creating opportunities for both buyers and investors. Increased demand often leads to higher home prices, more competition, and shifts in the rental market. Understanding these trends allows buyers and sellers to make informed real estate decisions.
Challenges: Natural population change continues to be negative, with deaths outpacing births.
While Nova Scotia’s population continues to grow through immigration and interprovincial migration, the province faces challenges from natural population decline. Stay informed on how these demographic shifts impact local real estate and business sectors by connecting with Chisholm Group.
