Energy Development Driving Growth in Canada

Stockhouse tells MHProNews the Canada Mortgage and Housing Corporation (CMHC) says the outlook for average rental apartment vacancies is not expect to change from the second quarter forecast of 2.2% for this year and 2.1% for 2012. Regionally for 2013 the lowest vacancy rates are forecast for Vancouver at 0.9%, Regina at 1.0%, and Calgary and Toronto both at 1.5%. Rental rates are expected to increase in 2013 in Calgary by 4.3%, in Edmonton by 3.8%, and in Vancouver by 3.1%. The strong energy development in Alberta is anticipated to drive the gross domestic product (GDP) in that province to 3.4% this year, and 3.2% in 2013, the best in the nation. Migration into Alberta because of the increased labor demand is the strongest since 1970, forecast to be 57,800 this year and 48,500 expected in 2013.

(Photo credit: Wikipedia)

mas kovach mhpronews shopping with soheyla .jp

Get our ‘read-hot’ industry-leading 

get our ‘read-hot’ industry-leading emailed headline news updates

Scroll to Top