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Surging home prices driving exodus from Canada’s “priciest provinces”

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A lack of affordable housing in Ontario and British Columbia is driving more Canadians to leave those pricier provinces and put down roots elsewhere.

Interprovincial migration volumes waned in the first year of the pandemic before accelerating in 2021 and exploding in the second quarter of the year, according to Statistics Canada. Data shows migration to Alberta spiked during the same period and the Maritime provinces of Nova Scotia and New Brunswick also received a steady stream of interprovincial migrants.

“I couldn’t have asked for a better change to be honest,” said Nancy Roberts after moving from Keswick, Ont., to Edmonton, Alta.

Experts say as Canadians leave the most expensive markets it may help keep home prices from rising even further. Anne Gaviola explains.

For more info, please go to https://globalnews.ca/news/9863405/new-roots-housing-affordability-interprovincial-migration/
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Category
U.S. & Canada
Tags
global news, interprovincial migration, interprovince migration
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