Thursday, June 26, 2008

Population Growth = Growing Market

graph courtesy of StatsCan

Alberta again led the country in population growth in the first three months of 2008. The province now weighs in at 3.5 million. Although there was a small exodus from Alberta in 2007 the net in-migration is still the highest in Canada.

"Alberta's population rose by 0.41 per cent over the January to March period to reach an estimated 3,512,400, mainly as a result of strong immigration and net inflows of non-permanent residents," Statistics Canada

Simple math tells me that more people means a continued demand for housing, whether it be rentals or purchases. If anything the buyer's market that the two major cities find themselves in now will attract people to the area as a bonus to great jobs at national high wages.

I've heard of people picking up properties for the legal cost out in Edmonton. Of course deals like that are hard to find but with a little motivation and a list of properties that aren't selling it shouldn't be too hard. If you are moving out west with a great job waiting for you who wouldn't pick up a home rather than renting?

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