“There has been a lot more interest in the rental market,” says Kendall Brown, market analyst for Zonda Urban, adding the trend is likely to continue.Sign up to receive daily headline news from the Calgary Herald, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails or any newsletter. Postmedia Network Inc.
Another change for Calgary is the secondary market — people renting condominiums, townhomes and single-family detached homes. Despite the increases, Calgary “is much cheaper” than Vancouver even though rents have increased 23 per cent so far this year, says Hazel Wong, analyst with Liv.rent in Vancouver.Wong points to migration driving Calgary’s market with Alberta forecast to see record migration with many people moving to Calgary.As well, the secondary market in Calgary has received a boost from investors from Ontario, notes Cameron Slavik, condominium market analyst with Zonda Urban.
“This tells us the affordability of new product for Alberta in general is much better than markets like Ontario and B.C.”
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