We really feel blessed living and working in a city like Victoria BC. We have a fantastic climate in Victoria and very rarely get any snow. We think this is one of the reasons so many people invest in Real Estate here in Victoria. A recent article by CanWest News Services published in the Times Colonist reads:
Victoria gets an ‘A’ for attractive
Greater Victoria is among Canada’s most economically dynamic and attractive regions, says a study from the Conference Board of Canada being released today. It is the smallest region in a top-tier cluster of six that get an A grade for being a “magnet city” with attractive qualities.The top six, in order, are: Calgary, Toronto, Vancouver, Edmonton, Victoria and Ottawa-Gatineau.Negatives for Victoria include its lack of affordable housing and a relatively high rate of drug-related crime.But it wins points for:
- leading the country in general physicians per capita (152 per 100,000)
- long life expectancy
- low incidence of obesity
- having a mild climate
- employment growth
- a vibrant cultural life
- good voter turnout
- residential building permit growth
- household access to recycling
- high portion of population with post-graduate and medical degrees
Being an attractive place to live and work is important to the health of a city, says the Conference Board study. “Cities without the ability to act as magnets and attract new people will struggle to stay prosperous in the decades ahead,” it says.
Grades were awarded based on seven areas: economy, innovation, environment, education, health, society and housing.
“Labour shortages are already beginning to affect some Canadian cities,” said Mario Lefebvre, director of the board’s new Centre for Municipal Studies. “Attracting highly skilled workers and the business investment they encourage is crucial to Canada’s economic competitiveness in the decades ahead.”
It’s becoming more a case of businesses going where the people with skills and talent want to live than people going to where the jobs are, he said. “In other words, places attractive to people will also attract business investment,” he said.
Calgary ranked No. 1 in large part because of its strong economy. It also ranked high when compared with 27 major cities in the U.S., the report says.
“Thanks to its red-hot economy, robust employment growth and young labour force, Calgary ranks just behind first-place Washington and second-place Austin (Texas) as the only overall A cities,” the study found.
“In general, Canadian cities trail their U.S. counterparts on key economic measures and on higher education, but offer more affordable housing, better commuting options, healthier lifestyles and better student-teacher ratios,” it says, adding that the stronger employment growth recorded by many Canadian cities over the past five years is a promising sign.
Overall, the results show that size matters, with five of the top six rankings in Canada going to big cities, all of which were given an A grade.
Montreal, which was ranked in the bottom half of the cities given a B grade, “has a lot of catching up to do,” the report says.
“Montreal’s sub-par economic performance and poor environmental results proved too difficult to overcome, despite stellar results in the society domain,” the report said, explaining why it was the only large city in Canada not to get an A grade.
Also, Montreal’s multicultural mix is not as diverse as others.
Five mid-sized cities appear in the top half of the overall rankings, including three provincial capitals: Victoria, Halifax, and Quebec City, as well as the Ontario cities of Kitchener, which is a centre for high technology and research, and Oshawa, which posted strong economic results during the past five years and outperformed all but three other Canadian metropolitan areas in terms of growth.
In the bottom half of the rankings were seven Ontario cities, which have been hampered by a shrinking manufacturing sector, including last-place Thunder Bay, hit by no employment growth, low income growth, and a low health score. End of article.
If you want to check out the latest statistics, you can do so at Victoria Real Estate Market Update where we have all the numbers for you.
If you have any comments or thoughts on the above, just drop us a note below. If you have questions about Victoria Real Estate in general, you can contact us anytime.
Anders Treiberg, Associate Broker REALTOR®
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