People in Ontario are leaving in record numbers to other provinces

According to data released by Statistics Canada, people are leaving Ontario in record numbers. The data reveals that in Q2 2022, approximately 49 000 people fled the province. This is an increase of 77.6% from Q1 2022 and 45.9% higher than the same quarter one year ago.

What is causing the large number of Ontario residents to move elsewhere, though? The primary driving factors are the price of real estate, the rising cost of living, and lackluster career opportunities.

Mike Moffatt, the senior director at The Smart Prosperity Institute, points to housing affordability as the main reason for the exodus.

Looking at it over one year, nearly 125,000 residents left the province in the year ending Q2 2022. Although Ontario saw an influx of 28 000 people moving to Ontario over the quarter, the 49 000 who moved out of the province resulted in a net outflow of 21 000 moving to other provinces in Canada, its largest outflow of residents in a quarter since 1971.

"We're seeing now, particularly with the availability of work from home, that people are moving to the places with the least expensive real estate, which tend to be Atlantic Canada and Alberta," said Moffatt.

"Across Canada, there's a fairly strong labor market, so we do see people switching employers and be willing to move to new places that are more affordable."

Where are all the residents going, though? According to the data, Alberta and Nova Scotia are where most residents are moving to. More affordable housing, a better quality of life, and promising career opportunities seem to be attracting many residents.

Alberta has long been an attractive destination for Ontarians looking for new opportunities and a better quality of life. The oil boom of the 1980s and the last major one, which ended in 2010, saw many Canadians flocking into the province.

Lately, its lower-cost housing is the deciding factor for many looking to move to Alberta. “There’s no land transfer tax on housing,” says Brad Mitchell, president of the Alberta Real Estate Association. “Housing is a lot more affordable everywhere in Alberta if you compare it to Toronto or some of the major city centers in the east.”

According to Canadian Real Estate Association (CREA) data, Alberta’s average home price was just $423,879 in August, compared to $829,739 in Ontario.

Meanwhile, both Nova Scotia and New Brunswick saw their largest net gain from inter- provincial migration since 1971.