Stats Canada - Data released September 27, 2023
House price increases in Calgary being driven by increasing immigration and a lack of housing supply.
Statistics Canada has releases population growth data showing that Canada’s population grew by 3.0% year over year to the end of Q3 2023. At the same time Alberta’s population grew by 4.1% year over year to the end of Q3 2023. This population growth is causing shortages in housing supply which in turn is leading to cost of housing increasing, both for rental properties and for resale properties. This is particularly evident in the lower cost properties especially in NE and East Calgary where prices have gone up by 20 to 30% year over year!
Please contact me to see how this might affect you.