StatCan reports strong Q3 results for the province's population
Alberta’s population grew by nearly 60,000 between July and September, a level that exceeded the province’s Q3 increase in any other year since data collection began in 1951, according to Statistics Canada.
As of the end of the third quarter, the Albertan population stood at 4,601,314 people, which was 58,203 more than three months prior (up by 1.28%).
The province’s relative affordability was a major factor in this growth, as a significant portion of the Q3 increase was due to inbound migration.
“I think it would be fair to say that the Alberta economy has been doing reasonably well for the last couple of years, and that’s made it more attractive,” Janet Lane of the Canada West Foundation told CBC News.
Where are these migrants coming from?
The greatest number of interprovincial migrants during the quarter stemmed from Ontario (approximately 12,000 people) and British Columbia (around 11,000 people), StatCan data indicated.
“We have recently been seeing increases in inflows towards Alberta, and that was normal during periods of high oil prices,” added Trevor Tombe of the University of Calgary. “But what makes this pretty unusual is just the sheer magnitude of it… The scale of it is pretty stark, and a lot of folks coming in from BC and Ontario as well, potentially a sign of strengthening economic conditions here relative to elsewhere, and more affordable housing, in particular.”
However, Lane warned of a potential vicious cycle that could take hold of the local housing sector, especially in markets which are already seeing rising prices like Calgary.
“If [people from Vancouver and Toronto] are moving here, they’re prepared to pay more for rent because they’re used to it,” Lane said. “And that’s driving up rents here in a big way.”
