According to the report, “immigrants represent 24 per cent of Canada’s construction managers” and even higher shares in other technical professions. Their departure could exacerbate delays in housing development, slow the pace of new builds, and hinder efforts to address affordability and supply challenges.
With fewer skilled newcomers entering and staying in Canada, lenders may face increased competition for a smaller base of qualified borrowers. This could lead to more aggressive mortgage product offerings, tighter underwriting standards, or even downward pressure on home prices in select markets.
Policy recommendations
The Conference Board called for a national retention policy framework, targeted settlement supports for highly skilled immigrants, and employer incentives to foster welcoming workplaces.
“Expanding bridging programs, licensing pathways, and personalized settlement plans is an untapped avenue for reducing onward migration risk among highly skilled immigrants,” the report said.
Without urgent action to stem the outflow of skilled newcomers, the country risks undermining its housing ambitions and broader economic goals.