Employment growth, increased migration, and economic expansion are factors that will lead to increased average house prices in Alberta this year and next according to CMHC’s Housing Market Outlook (Q2 2012) released today.
Alberta’s MLS® average price is projected to rise to $360,900 and
then to $371,500 in 2013.
Interestingly, CMHC believes all provinces will be showing year-over-year increases in Q2 next year – including BC.
2011 Q4 migration to the province was the strongest fourth quarter since 2006.
Net migration to Alberta in 2011 reached 45,039 people, over double the total from 2010. Migration to Alberta is projected to rise over the forecast period to 46,300 in 2012 and 46,200 in 2013.
You can read CMHC’s entire report here