Business & Economy

Cost Competitiveness

With high wages and low taxes, Edmonton is the place of choice for individuals and businesses.

Residential

Household Spending and Earning

Edmonton households have higher disposable income and are able to spend more for goods and services according to Statistics Canada's household expenditure survey.

Source: Statistics Canada Household Expenditure Survey

Edmonton wages and salaries have increased at a faster rate than prices. From 2002 to 2008, the consumer price index rose by 21.4% while average weekly earnings increased by 46%.

Compared to other cities in Canada, Edmonton remains affordable. Statistics Canada's intercity price index 2007 shows Edmonton remains competitive. Ottawa, Toronto, Halifax and Vancouver had higher prices for major goods and services than Edmonton.

Note: city average =100
[St. John's (N.L.), Charlottetown and Summerside (P.E.I.), Halifax (N.S.), Saint John (N.B.), Montréal (Que.), Ottawa (Ont.), Toronto (Ont.), Winnipeg (Man.), Regina (Sask.), Edmonton (Alta), Vancouver (B.C.)]

Source: Statistics Canada Intercity Price Index

Affordable Housing

Housing in the capital region has more to offer than the rest of Canada. Although the price of residential housing in Edmonton often changes dramatically, Edmonton continues to be very affordable compared to other major centres, with resale house prices lower than Vancouver, Calgary and Toronto.

Note: * The price of Montréal is median price, the rest of the prices are mean prices. ** The price of Vancouver is a benchmark price for a single family dwelling by December 2008 in Greater Vancouver.

Between 2007 and 2008, demand for housing on the lower end of the price range increased significantly. In the current economic climate, experts believe reduced prices may lead to a good housing base for the future.

“Buyer confidence, especially among first time buyers, was evident in Edmonton despite lingering economic concerns in other markets,” said Charlie Ponde, president of the REALTORS® Association of Edmonton. “When mortgage rates looked like they might start to rise, many potential buyers locked in lower mortgage rates and then went searching for a qualifying home.” Source: Edmonton, July 3, 2009, Market Analysis, Realtors® Association of Edmonton

Healthy Rental Market

According to the Canadian Mortgage and Housing Corporation, the availability rate for apartments in the Edmonton region increased to 4.7% in April, 2009 compared to 3.4% the same period of last year.

Lowest Gasoline Prices

Gasoline prices are a major concern for consumers. Edmonton has the lowest gasoline prices compared to other major Canadian cities.

Source: Statistics Canada Gasoline and Fuel Oil Average Retail Prices

Edmonton's *Non-Residential Construction Price Index

Source: Statistics Canada

*This measures the changes in contractors' selling prices of non-residential building construction (i.e. commercial, industrial and institutional).

For more information:

John Rose

Chief Economist, Economic Trends and External Research

Telephone	780-496-6070