10/24/2019

Alberta Population Could Surpass BC By 2043

Recent data by Statistics Canada indicates Alberta is poised to be the leader in Canada for population growth in the future as the province continues to recover from the harsh economic downturn that began in late 2014 when oil prices collapsed.

The federal agency is predicting Alberta will have the highest population growth over the next 25 years.

“By 2043, Alberta’s population would number between six million and 7.3 million inhabitants depending on the scenario, compared with 4.3 million in 2018,” it said in a recent report.

“Alberta’s population could surpass that of British Columbia by 2043, according to almost all scenarios.”

Aman Bhalla, Senior Vice President of Investment Management for Avenue Living Communities, says the residential rental company, which is based in Calgary, plans to address the needs for what will be a growing workforce housing population in Alberta.

“Some of the stats in Statistics Canada releases recently indicate that the Prairie provinces will be where a lot of future population growth will be seen. And Alberta is specifically mentioned along with Ontario as being one of the areas where the Canadian population will see the biggest growth,” he says.

“For us, to draw the correlation between Alberta growth in terms of population and how we see ourselves positioned in the multi-family rental space there’s obviously a good correlation and a strong connection there. We certainly look at that as a key driver for us. It’s very encouraging. As population grows, demand for housing will continue to grow and a lot of other trends also point in the direction of rental properties in fairly good demand in those scenarios.”

Avenue Living currently has 5,300 units across various markets in the province, specifically Calgary, Edmonton, Brooks, Bonnyville, Camrose, Lethbridge, Lloydminster, Red Deer, Medicine Hat, and Wetaskiwin.

Avenue Living has aggressively built a portfolio of 8,800 residential rental units across Western Canada in just 13 years. The company’s journey began in 2006 with the purchase of 24 rental units in Brooks, Alberta for $3 million. Avenue Living, which has a diversified portfolio across 17 markets in the Prairies, will continue to provide homes for the workforce housing population well into the future. The company expects to grow to more than 10,000 residential units across Western Canada by the end of this year.

“The demand for workforce housing will continue to grow. We are proving to be a very attractive player in that segment. For us, it’s a very favourable situation,” says Bhalla.

A recent report by Statistics Canada said Alberta’s population growth has accelerated for a second consecutive year, owing in part to interprovincial migrations exchanges which were positive after three consecutive years of losses.

The federal agency estimated that population in Alberta as of July was 4.4 million. The 1.6 per cent growth over the previous year was higher than the Canadian average of 1.42 per cent and followed 1.34 per cent growth for the province in the 2017-18 period.

Alberta’s population grew by 70,000 people.

According to ATB Financial’s Economics & Research Team, although Alberta’s current pace of population growth is relatively brisk, it is slower than it used to be. Annual growth averaged 2.3 per cent over the 10 years before the recession, peaking at three per cent in 2006 during the natural gas boom. Between 2015 and 2019, annual growth has averaged a more modest 1.4 per cent.

The good news for Alberta is net interprovincial migration is growing again. Net interprovincial migration has been positive for the last four quarters after 12 consecutive quarters in the red, according to ATB. In the second quarter of this year, Alberta had 24,019 in-migrants and 23,602 out-migrants.

It’s a good sign that more people now are coming to Alberta from other provinces, rather than leaving. Another good sign is that Alberta has the lowest median age among the provinces at 37.1 years.

Also supporting population growth is immigration. In the second quarter, Alberta had 12,413 immigrants move to the province while in the first quarter of the year it was 8,543.

When people move to Alberta from other provinces, the likelihood is that they initially search out rental housing.

“Stats Canada also speaks a lot about our new immigrant population which is also a key demographic of our resident population. So we (Avenue Living) are very favourably positioned from both those aspects,” adds Bhalla.



Terms & Conditions

By clicking "I Agree" and accessing this content, you acknowledge and agree to the following terms and conditions of use. The following constitutes a legal agreement governing your access to and use of the following webpages and is entered into between you and Avenue Living Asset Management Ltd. and (collectively, the “Company”):
  1. Restricted Access
The information contained on the following webpages is intended solely for use by individuals who are registered investment professionals in Canada, including those registered with a provincial securities commission, the Canadian Securities Administrators (CSA), or a recognized self-regulatory organization (e.g., CIRO). If you are not a registered investment professional in Canada, you are not authorized to access or use this information.
  1. Regulatory Compliance
By accessing this information, you represent, warrant and covenant that:
  • You are a registered investment professional in Canada and remain in good standing under applicable laws;
  • You are accessing the information solely in your professional capacity, and not as a retail investor or for general promotional or solicitation purposes; and
  • You will not use the information in any manner that would breach Canadian securities laws or regulations or applicable laws of any other jurisdiction.
  1. Company Status and Distribution Model
Avenue Living Asset Management Ltd. is a non-registered asset management firm and does not itself engage in the distribution of securities. Securities of Avenue Living Real Estate Core Trust, Mini Mall Storage Properties Trust, Tract Farmland Partners LP and any other issuer described in these materials are distributed exclusively through third-party investment dealers and exempt market dealers that are registered under applicable Canadian securities laws. Such distribution is conducted pursuant to available prospectus exemptions under National Instrument 45-106 – Prospectus Exemptions or other applicable local exemptions in the relevant offering jurisdictions. The Company does not provide investment advice or portfolio management services and is not registered as a dealer or adviser in any Canadian jurisdiction.
  1. Nature of Information
By proceeding, you acknowledge that the materials available behind this click-through agreement may include, but are not limited to:
  • Offering Memorandums (OMs) and other subscription-related documents;
  • Marketing presentations and fund fact sheets relating to potential investment opportunities;
  • Due diligence materials and supporting documentation;
  • Confidential information regarding investment strategies, fund structures, and/or management teams.
Such information is non-public, proprietary, and confidential, and is intended only to be accessed and reviewed through the Company’s website by qualified, registered investment professionals.
  1. Not an Offer or Solicitation
The materials accessed are provided on this website solely for informational purposes and do not constitute an offer to sell, or a solicitation to buy, any securities or investment products in any jurisdiction, nor do they constitute investment advice. Any such offer or solicitation, if made, would be pursuant to applicable securities laws and accompanied by appropriate offering documents. No offer or sale is being made to any U.S. Person (as defined in Regulation S under the U.S. Securities Act of 1933, as amended), nor to any person in the United States or subject to U.S. jurisdiction. The securities described hereinafter have not been and will not be registered under the U.S. Securities Act and may not be offered or sold in the United States or to U.S. Persons absent registration or an applicable exemption. The information contained on this website is not intended to constitute financial, investment, legal, accounting or tax advice or counsel and must not be relied upon in that regard. See Disclaimer - Avenue Living Asset Management and Forward Looking Statements - Avenue Living Asset Management for further information.
  1. Confidentiality & No Dissemination
You acknowledge that the information you are accessing is confidential and proprietary to the Company. You agree:
  • Not to copy, forward, share, or otherwise disseminate any of the materials;
  • Not to use the materials for any purpose other than your internal investment evaluation in a professional capacity;
  • To maintain the confidentiality of all information in accordance with applicable professional and legal standards.
You agree that the materials may not be copied, distributed, forwarded, or otherwise disseminated to any third party, including clients, prospective investors, or members of the public, without prior written consent of the Company. Unauthorized distribution, reproduction, or reliance by any third party is strictly prohibited.
  1. Intellectual Property Rights
All content provided is the intellectual property of the Company or its licensors and is protected under applicable copyright, trademark, and trade secret laws. You are granted a limited, non-transferable, non-sublicensable license to access and use the materials solely for professional due diligence purposes. You may not modify, reverse engineer, decompile, or create derivative works from any materials, nor remove any copyright or proprietary notices.
  1. Accuracy and Limitation of Liability
The information provided is believed to be accurate and reliable as of the date presented but is subject to change without notice. The Company makes no representation or warranty, express or implied, as to the accuracy, completeness, or currency of the content and disclaims all liability, to the extent possible under applicable securities laws, arising from any reliance on such information.
  1. Language
The parties hereto expressly request and require that this agreement be drawn up in English. Les parties aux présentes conviennent et exigent que cette entente soit rédigé en anglais.
  1. Acceptance of Terms
By clicking "I Agree," you confirm and agree that: If you do not agree to these terms, do not access or use the information.

Related Posts

It is a long established fact that a reader will be distracted by the readable content of a page when looking at its layout.


Tessa Bartlett 25 September, 2025

Avenue Living Closes Senior Unsecured Debenture Offering for $350 Million

Calgary, AB, Sept. 25, 2025 (GLOBE NEWSWIRE) -- Avenue Living (2014) LP (“Avenue Living”) announced…

Tessa Bartlett 25 September, 2025

Avenue Living Announces $350 Million Senior Unsecured Debenture Offering

Calgary, AB, Sept. 23, 2025 (GLOBE NEWSWIRE) -- Avenue Living (2014) LP (“Avenue Living”) announced…

Tessa Bartlett 25 September, 2025

Avenue Living Recognized as a Top Employer for Second Consecutive Year, Highlighting the Power of People Behind Record Growth

Calgary, AB, Sept. 16, 2025 (GLOBE NEWSWIRE) -- Avenue Living has once again been named one of…