New Property Figures Show Edmonton is Leading Canada
According to Canada Housing Mortgage and Housing Corp. statistics show that April 2013 housing starts in Edmonton, AB are leading the nation. Not only were single family housing starts up last month, multifamily building starts doubled over the same period in 2012.
Recent nationwide numbers of course show a decline in starts; no doubt figures that would be much worse if not masked by the buoyant growth in Edmonton.
Right now Alberta, and obviously Edmonton in particular is the only place in the country where developers really have a sense of confidence, which in return should give all Canadians and global investors an equal amount of confidence as the region is an attractive real estate investment destination.
Looking at other housing statistics, the optimism is well deserved and the absorption remains healthy. In fact, The Globe and Mail has said new building is no longer keeping up with household formation.
In a recent Edmonton Journal report an ATB Financial senior economist points to growing population and incoming workers from around the nation and globe that are eager to own homes in the Edmonton region and are actively buying them.
Even the most pessimistic and bearish of analysts and investors must be finding it hard to find fault in Edmonton’s growth, as they remain mute.
The province as a whole continues to see all commercial real estate sectors improving.
Blossoming development in Edmonton, combined with some of the best fundamentals on the planet from healthy diversity to population growth, low unemployment and incoming equity capital flooding in, all point to significant growth ahead.
While this may prop up all real estate market sectors in the region, it is particularly beneficial to those investing in retail properties and specifically shopping plazas.