Home buyers from around the country are flocking to Alberta

Many home buyers from across Canada, specifically Southern Ontario, have been moving to Alberta as an alternate destination for their next home, as the home prices elsewhere in Canada have been out of reach for many new homebuyers. 

Century 21 Canada conducts a yearly survey on house prices in Canada and recently released its updated findings; “The pricing in Alberta is still pretty reasonable compared to Toronto,” said Brian Rushton, the chief operating officer with Century 21 Canada, which released its latest survey of residential pricing. 

“The pricing in Alberta is still pretty reasonable compared to Toronto. We’ve seen a lot of investors coming in from the Greater Toronto market, especially.” 

The survey has been conducted yearly since 2018 and compares the price per square foot for various housing types across the country for the first half of the year. 

The latest report noted average sales prices of more than $400 per square foot across most of Ontario. Alberta, in contrast, reported average prices of below $400 per square foot across Alberta. 

“Calgary is probably a shining star for someone moving out of the GTA or potentially out of Vancouver as well,” Rushton said. “When we compare that to some of the markets in British Columbia, it’s still pretty affordable.” 

The work-from-home policy many companies have adopted allows people to choose where they want to live rather than where they need to live. This is causing many people to move to more affordable destinations like Alberta. 

Real Estate across the country has seen a correction, but the prices in Alberta are not likely to see much of a dip because the prices are so reasonable right now, with a strong demand for people looking to move to the province. 

“We don’t see the tightening up in Alberta, just because the affordability factor is so strong,” Rushton said. 

Alberta has seen an influx of Canadians from other provinces for some time, and more people moved there in 2021 than any other province. 

U-Haul Area District VP of Western Canada Naga Chennamsetty pointed out that its robust job market and developing communities are major reasons for people moving to Alberta and easy access to the Canadian Rocky Mountains. 

“There are initiatives in Alberta that are creating more job opportunities and attracting residents,” Chennamsetty said in a release. “In the last year, we have seen much movement into Alberta. More communities are developing in and around major cities,” Chennamsetty said. 

“Not only that, but the Canadian Rockies are so accessible to residents here, and they offer a variety of recreational activities. Alberta is one of the best places to make a home.”