New Migrants Helping to Keep Real Estate Sector Healthy
New stats show Calgary is an attractive place to live, especially during a recession. With the more positive job prospects in the Alberta economy, people across Canada are packing up and heading West. Alberta created 86,000 new jobs in the past year, and now has one of the lowest provincial jobless rates in Canada, at 5.6 per cent.
Calgary Development Council expects Calgary's population will grow another 18,000 by 2012. One interesting stat that comes out of their report shows the people of ages 50 to 60 will comprise almost half of that growth. The other big portion will be kids aged 0 to 9. Other age groups will actually decrease in number.
That could mean that older people are migrating because they sell their home in Toronto or other cities for a good amount, or that the 50+ crowd is more mobile. Another scenario is that younger workers in Calgary are headed north to Edmonton and Fort MacMurray to take advantage of growing Tar Sands and Oil Pipeline and service jobs.
Alberta Population Grows
The Edmonton journal reports that Alberta's population grew by 21,233 in the second quarter and 37,160 in the first half of 2011. According to Finance Alberta, Calgary accounted for 36% of total net interprovincial migration to Alberta, Edmonton 25% and Wood Buffalo 11%. With growth expected to continue and if oil and gas prices stay steady, 2012 could be an outstanding year.
Take a look at available properties in Calgary and area, from condos to townhouses to Million dollar homes, there is an excellent selection of homes for sale. Find out more about the Calgary housing market too!
Is it time to consider selling your Calgary Home? Don't be hasty in choosing an agent. Things to think about is your agent's work ethic, marketing capability, and negotiation skills. A good Calgary Real estate agent will help you determine the correct price and ensure you get plenty of offers. It's not uncommon these days to get better than asking prices.
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Listing information last updated on July 24th, 2014 at 7:01am MDT.