After hearing Calgary had the highest annual home sales growth in Canada this year (even though sales across the country fell by 15.1 per cent), you probably aren’t surprised to learn that Cowtown will also become a “Canadian economic leader in 2013.”
It’s a positive prediction that comes right out of the Calgary Chamber of Commerce’s 2013 Economic Outlook, released Tuesday.
“Calgary’s economy is expected to continue to perform well into 2013 as strong provincial activity drives employment growth and demand for commercial office space in the city,” the Calgary Herald’s analysis of the report reads.
As the Herald notes, the Chamber’s report, entitled “Teetering on the Brink of Prosperity,” also credits construction, income and retail sales growth as contributing factors to the positive forecast.
“With the city recording the highest annual population increase in five years, the residential real estate and construction markets are expected to remain robust,” the report reads. (For examples of just how robust the real estate market has been, look no further than fast-selling developments like The Block, Cranston Place and Panorama West.)
All the data translates into a 2013 growth that’s expected to be between 3.8 to 4.0 per cent!