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Friday, January 13, 2006

Alberta's New Home Industry at Full Capacity

"Alberta's new home industry is running out of everything...except buyers." So says an article from the Globe and Mail. It focuses mostly on the Calgary market, but states "in 2005...starts in Edmonton jumped 16%, the greatest increase in the country."

"Concrete for foundations has been rationed. Lumber is in short supply. Inventories of cabinets, water pipes and, one builder says, kitchen sinks and plumbing fixtures are all being drained. And, then there is the worst shortage of all: The skilled hands to build the bungalows, condos and dream mansions to accommodate Alberta's swelling population."

"There is a shortage of skilled labour across Canada, but Alberta has been hit particularly hard, since the oil sands megaprojects in the province's north are employing thousands of workers."

"The residential construction sector is largely not unionized, but the Alberta Building Trades Council says it is certain that workers are moving from the relatively lower paid jobs in the south to join its ranks. ...workers on industrial projects are paid at least $31 an hour, plus benefits, better than the hourly rate of $27 for high-rise residential construction, and much higher than for work on single residences."

Full article here.

The word on the street is that many new home builders are increasing, or already have increased, their prices by 15%. Search all Edmonton MLS listings from our website, or contact us for help finding your new home..

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