While Ontario and Quebec account for the majority of Canada’s population, there has been a notable demographic shift in recent years. The province of Alberta and the city of Saskatoon are experiencing substantial population surges. Let’s analyze this trend to understand why an increasing number of Canadians are choosing to migrate in large numbers to Alberta and Saskatoon.
What’s Driving the Trend?
Alberta has experienced a remarkable economic upturn over the past few decades, establishing itself as a thriving hub. Meanwhile, Saskatoon, the largest city in Saskatchewan, serves as a growing regional center.
While Alberta has been a target for interprovincial migration for years, recent data indicates a significant surge. On February 15th, 2024, MSN.com reported that Alberta saw its interprovincial migration numbers double, with 45,194 Canadians making the move in 2023, compared to 22,278 in 2022. There is a considerable spike in buyer interest, reflecting the province’s rising prominence.
Saskatoon also witnessed substantial population growth, with an increase of 14,400 people in 2023, 85% of whom came from immigration, according to a January report from CBC News this year. According to another January CBC News article, this growth in a city with a population of approximately 270,000 has strained housing availability, highlighting the difficulties of keeping pace with the surging population.
So, why are Canadians choosing to move to Alberta and Saskatoon over the country’s traditional population centers? Let’s consider the key reasons below.
Affordability
A significant factor driving the influx to Alberta and Saskatoon is the desire to escape exorbitant real estate prices in provinces such as British Columbia and Ontario. Despite rising prices in Alberta’s major cities and Saskatoon, they remain dramatically lower than those in Ontario. The cost of living has become a considerable driver for migration to more affordable provinces.
As per the aforementioned MSN article, a sizable portion of interprovincial migration to Alberta originates from Ontario, where home prices are high. Buyers are attracted to homes in Alberta priced below $500,000, a rarity in the Greater Toronto Area and most of British Columbia.
In late January, CTV News reported that Saskatoon closed the year with a real estate benchmark listing price of $377,033 and that its market should be tight this year. While the benchmark price represents a slight increase from previous years, it’s still relatively low and undoubtedly a strong attraction.
Economic Opportunity
Another key factor is the abundance of economic opportunities in Alberta and Saskatoon. Both provinces have drastically lower tax burdens compared to Ontario, Quebec, and British Columbia, coupled with robust job markets.
Alberta has established itself as the heart of Canada’s energy industry, with the oil and gas sector contributing substantially to the country’s GDP. Major cities such as Calgary and Edmonton boast thriving job markets for residents.
Saskatoon similarly provides residents with economic incentives, serving as a regional hub integral to Saskatchewan’s powerful agriculture industry. Also, the city hosts a significant energy sector and houses the headquarters of the world’s largest uranium company. Abundant natural resources power the city’s economy, complemented by substantial financial, technology, and healthcare industries.
