More than 30,000 newcomers expected to settle in Edmonton this year

Edmonton's population is growing rapidly with few signs of slowing down, according to a new report by the Conference Board of Canada. 

This year, more than 30,000 international newcomers are expected to arrive in Edmonton.  That comes after a net international migration to Edmonton last year of more than 33,000, nearly three times the 20-year average.

There are several reasons for such large inflows, said Ted Mallett, the director of economic forecasting at the Conference Board. 

One of them is the federal government speeding up immigration. 

"The immigration has by design been increased significantly," Mallett said in an interview Monday.

Two other reasons, he said, are that Prairie cities such as Edmonton and Calgary tend to have higher wages and more reasonable housing costs compared to cities like Toronto and Vancouver. 

"What sets Edmonton apart is that home building tends to be very consistent and at a high pace," Mallett said. 

He said the provincial economy has a "very powerful economic engine," with the oil and gas sector, local manufacturing and services. 

Mallett said Edmonton has the best of both worlds: strong economic underpinnings with decent wage levels plus "generally good" housing policy in the province. 

"It tends to draw many more people who are perhaps priced out of the marketplace in other parts of the country," Mallett said. 

The Conference Board anticipates that net international migration to Edmonton will decline over the next two years but will still remain well above the 20-year average. Those estimates are around 21,800 people in 2024 and 18,400 in 2025.

This is likely to generate more demand and more income in the economy, Mallett said. 

Rapid population growth also has its challenges.

One of them is to ensure that the new real estate construction keeps pace with population growth so new arrivals don't end up in bidding wars for houses or apartments, Mallett said.