An Innovation Revolution: How Alberta Is Building the Future of Tech
Follow the incredible transformation of Alberta’s tech sector, from its humble beginnings in 2000 to its position as a global tech player today.
Welcome to The Twenty-Four Seven. With a fresh new look, The Twenty-Four Seven delivers the analyses, insights and news you’ve come to expect from our team of economic experts.
SubscribeFollow the incredible transformation of Alberta’s tech sector, from its humble beginnings in 2000 to its position as a global tech player today.
Chart of the Week: Rental units fuel home construction boom
The home construction boom in Alberta is a key factor pushing Alberta’s economic growth ahead of other provinces. We’re at record levels of monthly housing starts, and we now expect that 2025 will be a record year overall.
But this time is different from past housing booms, for at least a couple reasons. First, it’s highly concentrated in the largest cities. Calgary home construction took off starting in late 2023, and now Edmonton construction has picked up. Add up the two cities, and they’re at 88% of total housing starts so far in 2025. In the last major construction boom of 2006-08, the share coming from these two centers was around 60%.
Second, it’s more mult-family focused, particularly rentals. As shown in our Chart of the Week, rental units have surged in Alberta and across the country. That said, Alberta has also seen decent growth in home ownership units over the last two years, even as owner-occupied starts have pulled back in the rest of Canada.
The rental supply is needed given rapid population growth and the need for diverse housing options. With migration slowing, and the supply catching up, asking rents have been edging lower in certain Alberta markets, particularly in Calgary.
Economic Insights Focused on Alberta's Economy
Retail sales, the unemployment rate, population growth, inflation, international trade—these are just a few of the economic trends the team makes sense of in ATB’s daily insights.
Retail spending still upbeat through May but largely driven by auto sales
House price trends in Edmonton and Calgary
Small business outlook better in July
A review of the key economic highlights of the week impacting Alberta.
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