Real Estate Overview for Edmonton

Overview

The recovery of oil prices is providing 

a welcome boost to the Alberta 

economy.  Provincial crown petroleum 

and natural gas rights were auctioned 

at record values in 2010, which will 

lead to higher drilling and energy 

exploration in 2011.  Investment in 

oil sands projects will also continue 

to grow, accelerating economic 

growth in Alberta.  The natural gas 

industry will continue to be impacted 

by a low price environment and its 

contribution to the economy will be 

muted until prices move higher.

In 2011, employment growth in 

Alberta will recover and exceed the 

peak level of employment reached 

prior to the economic downturn.   

Improved labour market conditions 

will move the unemployment rate 

lower and draw more people to 

Alberta. 

The turnaround of interprovincial 

migration flows in 2010 should 

continue over the forecast period, 

as Alberta’s labour market attracts 

more migrants in 2011 and 2012.  

International migration will remain 

elevated over the forecast period.  

Total net migration to Alberta is 

projected at 31,450 in 2011, then rise 

to 34,100 in 2012.  Overall, migration 

patterns are expected to support 

housing demand in Alberta.

source cmhc

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