October 2013 Alberta Economic Fundamentals

[Ally]

Alberta economic snapshot




CALGARY, AB, Oct 26, 2013/ Troy Media/ ` More than half of Albertans live within its two major cities, and another 15 per cent live within the next tier of major communities such as Red Deer, Strathcona County and Lethbridge. Although lower in profile, Alberta`s medium-sized cities and towns ` those with populations between 10,000 and 30,000 ` have been showing some respectable growth rates.




According to Statistics Canada, between 2006 and 2012 the fastest growing medium-sized community was Chestermere, just east of Calgary. Its population grew by a staggering 19.7 per cent to almost to 12,000, up from 10,000. By comparison, Alberta`s overall population grew by 13.5 per cent over the same period. The other fast-growing communities also tended to be not far from Calgary. High River (+18.5 per cent), Airdrie (+18.2 per cent) and Cochrane (+15.7 per cent) showed impressive population gains.





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[Ally]

Red Deer industrial market tightens




The Red Deer industrial real estate inventory grew by about 3.1 per cent last year to more than 12.5 million square feet, but that growth didn't increase the vacancy rate.




That's because of the net absorption of more than 415,000 square feet, according to a recent industrial market survey done by Soderquist Appraisals Ltd.





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