When you’re thinking of buying a home to support a family, you want to make sure that the area you’re moving to has plenty of economic opportunity. A growing economy is one of the most important factors to enjoying a high quality of life in any area.

Prospective homebuyers in Canada should know that the Edmonton area is experiencing a economic boom relative to other areas of the country. Statistics released by the Edmonton Economic Development Corporation show that the city of Edmonton is one of the fastest-growing economic areas in the country. In 2011, the city made the biggest economic gains of any large Canadian city. Edmonton’s 3.9% increase in gross domestic product (GDP) made it the fourth-fastest growing economy of any Canadian city. In fact, Edmonton’s economy is outpacing the entire economy for the province of Alberta (3.1% GDP increase) and Canada overall (2.1% GDP overall).

What does this mean for homeowners? Prospective buyers should know that now is a great time to purchase property within the city of Edmonton. A good economy generally causes housing prices to rise. Buying a house now is a great investment, as the value of these homes are prime to increase in the coming years.

A good local economy is also great for job opportunities. Edmonton’s low tax rates also mean that you can keep and use more of the income that you’ve earned.

More information on the Edmonton economy can be found here: http://www.edmonton.com/for-business/3349.aspx. If you want to check out market prices yourself, call Alexis Homes and we’ll be glad to let you know about great places to live in and around the city.

Post by Alexis Hlady