Wednesday, December 19, 2007

Negative Interprovincial Migration

It's official now. Fewer people moved to Alberta than those who left as per the latest release from Stats Can. Alberta had a negative inter provincial migration of around 3300, the first negative reading since 1994. From the release:

"On the other hand, the main engine of Alberta's demographic growth—interprovincial migration—has lost some of its importance. Alberta, which has led the provinces in population growth for the last few years, has started to lose more people to other regions than it has received.

Over the third quarter, Alberta recorded a net interprovincial migration outflow estimated at 3,300 people. The last time the province recorded a net outflow to other jurisdictions occurred in the fourth quarter of 1994."

It's hard to say if this is a definite pattern, but for the last few quarters, the net inter provincial migration number has been falling. This time it's into the negative territory.
I guess when you combine the second highest housing costs in Canada with high inflation and poor services, there isn't much of Alberta Advantage left.

The billion dollar question though is- If more people are leaving Alberta than coming in, what's going to happen to tens of thousands of properties that are about to be dumped into the market come 2008?
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