Calgary top-rated market for overall real estate prospects
Calgary top-rated market for overall real estate prospects
This is great news for buyers … you are buying a home and a great investment – not the case for other provinces.
As we have always been saying … Alberta’s in-bound migration and strong job market will support home prices.
Did you know that Alberta is short 25,000 jobs in the oil field right now? That is going to continue for the medium term! – Mark Herman
Strong economic and employment growth forecast
CALGARY – For the second year in a row, Calgary is the top-rated market in Canada for overall real estate prospects, according to a survey of industry experts.
Calgary kept the top spot with the highest ratings for prospects in three categories – investment, development and homebuilding, said the Emerging Trends in Real Estate report by PwC and the Urban Land Institute.
“The Calgary economy continues to post solid gains, despite the disruption caused by summer flooding,” said the report. “The energy industry, primarily oil, remains strong and will continue to benefit from economic growth around the world.
“Locally, energy and energy service companies have dominated office demand. Economic activity is being supported by growth in both the goods and services sectors. Manufacturing and construction will lead the goods sector, and personal services and transportation and warehousing are the key drivers on the service side.”
The report is based on a survey of over 1,000 industry experts including investors, fund managers, developers, property companies, lenders, brokers, advisers and consultants.
The ratings of other Canadian cities in order following Calgary are: Edmonton, Saskatoon, Vancouver, Toronto, Winnipeg, Ottawa, Halifax and Montreal.
The report said economic activity in Calgary is projected to grow at a 3.3 per cent rate in 2013 and a 3.4 per cent rate in 2014. Employment growth is expected to slow but remain good through the end of this year and into 2014, growing at 2.4 per cent and 2.8 per cent, respectively.