According to Scotia’s Global Forecast report released today, Alberta housing starts are expected to increase this year & next.
Meanwhile housing starts in Saskatchewan, Manitoba, Quebec, Ontario & the Atlantic are expected to decline from 2011’s levels and BC starts will remain flat.
Nationally, starts are expected to total 184,000 and 178,000 units, respectively, in 2012 and 2013. That’s down from the 194,000 starts recorded in 2011.
Alberta’s Economy to Outperform the Rest of Canada
The report also states:
Alberta’s labour market has heated up, with stronger employment growth now forecast for 2012 at more than double the national pace. In several sectors, labour shortages and cost pressures are surfacing.
Exports of oil, wood products and minerals should continue to sustain the region’s outperformance, though Western Canada remains sensitive to global growth prospects.
Read the entire report here