Trying on the key markets of Vancouver, Calgary, Winnipeg, Toronto, Montreal and Halifax, the report discovered that interprovincial migration in 2023 noticed near 60,000 Canadians transfer to Alberta and, to a lesser extent, Nova Scotia, New Brunswick, and Prince Edward Island, whereas all different provinces noticed extra folks depart than arrive.
Official knowledge from Statistics Canada’s Quarterly Demographic Estimates, Provinces and Territories Interactive Map reveals how interprovincial migration has escalated lately. Thoe variety of Canadians shifting to Alberta within the first three quarters of 2023 doubled year-over-year to 45,194 (from 22,278 in the identical interval of 2022).
Most of those folks got here from Ontario (6,262), BC (5,269), Saskatchewan (1,579) and Manitoba (1,316).
“Given at this time’s housing market realities, it comes as no shock that consumers are prepared to journey throughout the nation to attain house possession,” says RE/MAX Canada President Christopher Alexander. “In addition to inexpensive housing values and in depth job alternatives, Alberta is well-known for its place on taxation, with no provincial gross sales tax and nil land switch tax on residential actual property.”
For cash-rich consumers from provinces similar to Ontario and British Columbia, selling-up and shifting to a lower-cost space is sensible, whereas these making an attempt to get on the property ladder can achieve this quicker by shifting to a extra inexpensive market.